Capitalize on the Growing Market Thursday, 19 October 2023 08:30
ACCESSWIRE | Article Logo Argentum 47, Inc.
Share this Article Share on Twitter Share on Facebook Share on Linkedin Topic: Company Update WINDSOR, BERKSHIRE, UK / ACCESSWIRE / October 19, 2023 / Argentum 47, Inc. ("Argentum" or the "Company")(www.argq.io) (OTC PINK:ARGQ), a leading provider of AI-powered digital marketing solutions including branding, advertising, and lead generation, announced today that it has entered into talks with a European medical cannabis company that is fully integrated with strategic assets along the entire value chain including cultivation, processing, and distribution of dry flower and oil derivatives.
With the global medical cannabis market valued at USD $11.0 billion in 2021 and projected to reach USD $54.34 billion by 2029, (source: Data Bridge Market Research, July 2022), Argentum is striving to capitalize on the European cannabis industry, which is expected to grow significantly in the coming years as more countries legalize medicinal marijuana and its related products.
"This strategic expansion closely aligns with our mission of building shareholder value and fostering robust and sustainable growth. The surging European medical cannabis market is projected to reach unprecedented heights in the coming years, as an increasing number of countries progressively pass legislation and establish regulatory frameworks to meet the expected rising demand," said Argentum's CEO, Robert Stephenson. "The emergence of a legal framework for the industry has created opportunities for manufacturers, retailers, and consumers alike. In an increasingly competitive market, companies will need to innovate to stand out, and we believe that Argentum can deliver by strategically positioning itself to capitalize on this green field opportunity through the acquisition of a cutting-edge medical cannabis cultivation and processing facility that is planned to be operational in the first half of 2024."
About The Project
Argentum's comprehensive medical cannabis project, located near Lisbon, Portugal, will span 4.3 hectares, with an option for an additional 11.6 hectares. The facility's development is slated to roll out in three phases. Phase one, projected for completion by Q4 2023, includes a 3,500 m^2 production facility built to meet good manufacturing practices, or GMP, standards and a 1,880 m^2 state-of-the-art greenhouse. Phase two and three will aim to maximize output with expansion of greenhouse space and EU-GMP extraction capabilities for medical oil production that will result in an 18,000 kg GMP-compliant facility.
To enhance the Company's EU market presence, ensure broad product accessibility and bolster distribution across the European Union, Argentum plans to refine marketing strategies for initial territories in Malta, the Czech Republic, Poland, and Germany, and extend out to other markets as they emerge.
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