Ljubljana, Slovenia, Nov. 08, 2019 (GLOBE NEWSWIRE) -- RAFARMA PHARMACEUTICALS INC. “OTC:(RAFA)” Rafarma Pharmaceuticals, Inc. announces that following meetings this past week in Bangkok and Khon Kaen, Thailand, it has signed a Letter of Intent to acquire a 49% interest in a Thailand company which is already positioned to be a leader in the Thailand cannabis industry. Following the completion of due diligence, Rafarma will finalize its acquisition of a 49% interest (the most allowed by a foreign investor) in a local Thailand herb producer. The acquisition target, which already has decades’ experience farming, synthesizing and marketing medicinal herbs native to Thailand, has also, according to company officers, secured the necessary approvals to begin immediate cultivation for the Thai medical community as well as CBD extraction, which will then be expanded to all areas of distribution and export as applicable Thailand cannabis regulation goes into effect taking production beyond the medical industry to health spa use, and beyond..
According to Rafarma CEO Vladimir Dolgolenko, “We are excited. Rafarma has inked a major foothold in the ready-to-explode Thailand cannabis industry. This is a major addition to our present cannabis cultivation in Slovenia. Following due diligence and a finalized contract, we look forward to showcasing our new Thai partnership to the industry—and leading the market in southeast Asia.”
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