CannaCor (Pty) Ltd
CannaCor: Where Cannabis Cultivation and Blockchain Technology Combine Seamlessly
CannaCor and Blockchain Corporation have engaged in a collaboration to position themselves to become global leaders in cannabis research, cultivation, processing and distribution, as well as the implementation of blockchain technologies for purposes of cannabis life cycle and supply chain management. They aspire to lead, legitimize and define the future of the industry by building the world’s most trusted blockchain-based cannabis company. This venture includes the establishment of a unique aquaponics cultivation and production facility in Lesotho to supply the global market.
This document provides details on the contribution of both parties to this venture including an Initial Coin Offering (ICO) and how this will impact on their operation.
A brief introduction to the medical cannabis industry is included providing information on the medical benefits of cannabis, the growth potential of the cannabis market and the legalization of the industry.
2. BLOCKCHAIN CORPORATION
The Blockchain Corporation team is committed to solving problems in the medical cannabis industry and focusing attention on implementing real-world solutions to ensure consistent crop growth of excellent quality and quantity. It aspires to streamline the cultivation life cycle of the cannabis crop and deliver pinpoint supply chain solutions to enhance product traceability.
Blockchain Corporation will do this by positioning itself as an early adopter and implementer of a combination of Blockchain and Hyperledger technologies to manage the medical cannabis production life cycle and supply chain. Key focus areas are cultivation life cycle management and supply chain management.
2.1 CULTIVATION LIFE CYCLE MANAGEMENT
The cannabis industry requires a technology infrastructure to support and improve the multistage cultivation process of cannabis. Blockchain Corporation has identified three major areas which need to be addressed.
• Process and cost analysis
A process will be implemented to track all nutrients and materials used for growing a cannabis crop to calculate the cost per gram by plant, batch and strain.
• Genealogy tracking and optimization
This system will help CannaCor keep a record of a strong, diverse genetic portfolio, which will track the genealogy of each plant and create new hybrids based on cultivators’ preferences.
• Product quality and consistency
Currently cultivators struggle to produce a harvest of consistent quantity and quality by following repeated processes. In order to improve this aspect of cultivation, our system will track a batch and capture all information pertaining to its genealogy, exact amount of water and nutrients used, the precise pH, temperature and humidity at each stage of the batch’s cultivation process.
2.2 SUPPLY CHAIN MANAGEMENT
Blockchain Corporation will create a network of processes that moves the product along from the suppliers of raw materials to the organizations which deal directly with users. The three major steps in the supply chain blockchain process are as follows:
• Decentralized data record
Blockchain technology provides the utmost transparency in the decentralized recording of data. It ensures the supply chain record is secure, transparent, verifiable and immutable.
By integrating blockchain technology into packaging, the CannaCor team and its affiliates (retailers, shop owners, etc.) will be able to track the precise real-world movement of their cannabis inventory on an individual shipment basis. When a product is scanned, no data needs to be entered. It is all covered by the back-end software, eliminating the need for training staff to operate the system.
• QR code scanning
The company will make use of tracking technology which can communicate with modern smartphones, making implementation of this system simple for producers, retailers and consumers alike.
CannaCor is a licensed producer of medical cannabis and cannabis by-products located in Lesotho, southern Africa. It is supported by a group of professional executives with extensive knowledge and understanding of the needs of the medical cannabis industry. Their economic activities are based on the recently approved production and export of cannabis and cannabis by-products which can be used for medicinal needs.
A proud pioneer, they aim to incorporate only the latest and best technologies and will become a medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments and researchers on a global scale.
They are constantly striving to improve their products and we adhere to strict procedural and environmental protocols in order to maximize purity, quality and customer satisfaction.
The vision of CannaCor is to become a frontrunner of medical cannabis cultivation in Lesotho. Their focus is to implement sustainable production facilities and expand their lead with an aquaponics production plant while integrating all their management systems with a selection of blockchain technologies to ensure transparency, immutability and real-life tracking.
CannaCor works with a group of experienced scientists, blockchain developers, pharmacists and engineers daily, with the goal of improving our company by researching and delivering environmentally sustainable high-quality cannabis products.
3.4 CANNACOR OPERATIONS
CannaCor operates within the Lesotho cannabis industry. Lesotho legalised the production of cannabis in September 2017 under the Drugs of Abuse Regulations, Act of 2018. Different classes of operating licences are granted to cultivate cannabis, export manufactured products, and conduct testing, etc.
CannaCor (Pty) Ltd is an incorporated company under the Companies Act of 2011 in the Kingdom of Lesotho and was registered on 16 November 2018 (Registration number 65263), (TIN number 200084029-4). The company is licensed as a prohibited drug operator. The licence is granted under Section 12 of the Drug Abuse Act of 2008 with licence number 02/D022/06-2019. CannaCor (Pty) Ltd is licensed to perform certain activities, as defined in the act, namely: the cultivation of cannabis; manufacture of cannabis products; supply and distribution of cannabis; storage of cannabis and/or the export, import and transit of cannabis products within, into and outside of Lesotho for medicinal purposes and/or scientific use and any other lawful use.
The Cannacor team will ensure that they are compliant with every aspect of the act and are certified by the following: ISO 9001, Good Agricultural and Collecting Practice (GACP), Good Manufacturing Practice (GMP) and Good Laboratory Practice (GLP).
CannaCor has obtained 50 000 m2 of land in Berea, Lesotho, of which 30 000 m2 is permitted for greenhouse or indoor cultivation of cannabis. The remainder of the land will be used for further expansion as demand grows.
A medical cannabis plant will be established to cultivate cannabis and produce products such as:
• Oils: Tetrahydrocannabinol (THC), Cannabidiol (CBD), Cannabinoids (CBN), Tetrahydrocannabinolic Acid (THCA) in various strengths and combinations
• Cannabis and oil capsules and various other products:
CannaCor intends to commence with the development of an aquaponics production facility for medical cannabis during the fourth quarter of 2019. An aquaponics production facility is a strategically important asset for CannaCor as most other European liberalized markets do not allow for local production and rely on imports. The company will be able to serve Canada, Europe and other global markets from this facility.
4. CANNACOR AQUAPONICS CULTIVATION PLANT
Cannacor’s objective is to develop its own aquaponics cultivation and production facility for medical cannabis on the company’s premises in Lesotho. This will enable the company to meet a growing demand in a global market of scarce production capacity and become a recognized supplier to the global markets that have no or limited production capacity.
The Medicines Agency places great emphasis on compliance with quality standards and regulative requirements on the cultivation of cannabis plants without the use of pesticides. Therefore, CannaCor has carefully evaluated various cultivation possibilities.
The intention is to establish a facility where standardized, uniform and consistent products can be cultivated, without the use of pesticides, so that the content of the active ingredients is the same for each harvesting and processing stage. The development of the cultivation premises into a complete facility for the cultivation and production of medical cannabis is expected to commence in the fourth quarter of 2019.
The 50 000 m2 of land acquired by CannaCor is situated in an agricultural area called Berea in Lesotho, Southern Africa, with access to electricity and water. The land is 45 minutes’ drive outside of Maseru. The area has already been transformed into agricultural land.