Cape-based Cannsun says it expects to harvest 600 kg of cannabis this year with an export value of around R37,8 million (US$2,8 million at the exchange rate of R13.50/US$1).
The company has 1,6 ha under production at its Atlantis grow op and is looking to raise funds for expansion. Cannsun director Pholoso Malatjie told CNN’s Marketplace on 30 May 2021 that the company hopes to raise US$8,5 million (R115 million) to expand its grow op to meet anticipated demand.
Cannsun’s South African operation is the main source of raw bud for the Cannsun Medhel nternational Group that describes itself as “a vertically-integrated biosceutical, medical device and medical cannabis company”.
It harvested its first crop in November 2020, sourcing clones from Felbridge Medical Cannabis.
The company’s Lesotho operation, Alpine, has been awarded a cultivation license. It is currently developing a 1,5 ha grow op.
Cannsun Medhel distributes internationally from its key processing hubs in Greece and Thailand, with other operations in the countries shown below.