The press launch issued by the corporate June 22nd says

Kalacan Hellas S.A. (“Kalacan” or the “Company”) (Privately Held) is happy to announce that it has obtained its medical hashish set up license (the “License”). The License, one of many largest issued by the Greek authorities, authorizes Kalacan to set up cultivation, processing and manufacturing amenities, in addition to conduct Licensed Activities, together with import and export of hashish. Securing an EU-based license supplies Kalacan with a first-mover manufacturing and distribution platform in the creating European hashish market.

Kalacan’s Chairman and CEO, Mr. Athanasios Katsikas commented: “Greece and Kalacan are now on the cannabis world stage, and we will continue to build towards becoming a global leader. We look forward to developing this exciting industry in Greece and Europe generally, with a direct benefit going back into our community and country.”

Kalacan anticipates constructing large-scale greenhouses and EU GMP processing and manufacturing amenities on the 77,258 m2 licensed plot in the area Kalamata, Greece. The new amenities are anticipated to initially create a whole lot of jobs in the area people, which is able to proceed to enhance as Kalacan expands operations additional. Construction of the primary part, with a footprint of 6,000 m2, is anticipated to start later this 12 months. Further growth of the positioning’s total licensed capability is anticipated to be accomplished in phases because the market matures. Once totally constructed and working at full capability, the Company estimates complete manufacturing of dried high-THC hashish to be 100,000 kilograms yearly, with additional capability of greater than 12 million items of completed client packaged cannabis-based merchandise, focused for export throughout Europe and to different choose markets.


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