Alternate Health enters cannabis partnership for spring production

Vancouver’s Alternate Health expects to close its 30-year joint venture agreement with Alturas Native Band in early February 2017.

The agreement supports the development, production, research and extraction of cannabidiols (CBDs) to create medicinal products in a production facility in California.

Read: Echelon Wealth to advise medical cannabis producer

The new facility will allow Alternate Health to manufacture substantial volumes of sublingual, dissolvable pills and patches that can then be distributed to state-compliant collectives and medical entities — and potentially worldwide.

(On December 11, 2014, the U.S. Justice Department held over that native Americans can grow and sell cannabis on native reserve lands in accordance with state laws.)

Alternate Health expects to start business in spring 2017. The company will receive 45% of the proceeds, and the Alturas Native Band will receive 55% (in accordance with typical sovereign rights contracts).

Also read:

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Write off medical pot, says CRA

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.