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Cannabis Queen Louisa takes the helm at Canadian multinational

South African entrepreneur Louisa Mojela has successfully flipped her Lesotho cannabis farm in a R70 million deal and has become chairman of the Toronto-based multinational that bought it. Mojela, a founder of Wiphold Women’s investment group, now heads Halo Labs and has set her sights on building the world’s biggest cannabis farm.

According to a statement from Halo, the company now owns 100% of Bophelo Bioscience and Wellness Group, which gives it:

  • A fully licensed 5-hectare (12.4 acre) cultivation site, with an operating nursery, flowering hoop houses, and preparation is underway for the construction of five 1-hectare state of the art forced air greenhouses;

 

  • A further 200 hectares (494 acres) of conditionally approved canopy (including the possibility of outdoor growing) under a lease option for the mass cultivation of medicinal grade cannabis;

 

  • End product expected to be compliant with European Good Agricultural and Collecting Practices as well as the exclusive right to grow DNA Genetics strains in Lesotho and conduct R&D to develop new DNA Genetics strains in Lesotho crossed with local genetics;

 

  • A nascent export business with potential access to United Kingdom, European, Israeli and Australian cannabis markets as well as South Africa’s CBD market

 

Bophelo says it is in advanced discussions with several large commercial banks and local private equity funds in the South African region to fund the Phase 1 Growth Plan

Based in Lesotho’s Mafeteng Region, Bophelo is the holder of one of a limited number of operational licenses issued in Lesotho for the production and export of medicinal cannabis products. As the largest licensed landholder in Lesotho, Bophelo’s 9-year license allows it to cultivate, manufacture, import and export cannabis products.

With over 200 days of annual sunshine, Bophelo can support as many as 3 full growing seasons a year. The Phase 1 expansion of Bophelo has launched and as planned will feature a 1.1 hectare build to include 4 hoop houses and 1 Cravo greenhouse. The extra capacity will allow growing of multiple strains of medicinal cannabis for export. The build out is expected to be complete before the South African winter ends. Once fully operational it will house 3 acres of canopy.

Upon receipt of the EU GACP certification for Bophelo grown product, Halo anticipates utilizing Canmart Limited a holder of wholesale distribution and special cannabis licenses in the United Kingdom, to import Cannabis Based Products for Medicinal use (“CBPMs”). This would expose the Company to the UK market which is expected to surpass $US3 billion by 2024.1 Additionally, the Company intends to use Lesotho as a platform to sell product where possible in neighboring countries and on the African continent. Africa’s legal cannabis industry could be worth more than $US 7.1 billion annually by 2023 if legislation is introduced in a number of the continent’s major markets. Halo will explore other markets for export including Malta, Israel, and Australia.

 

Find out more about Bophelo

Bophelo back on track!

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