ASIF420 Cannabis Ventures (“ASIF420” or the “Company”) is pleased to announce that it has received a new licence from the Health Ministry of the Kingdom of Lesotho permitting it to grow cannabis at an outdoor site in northern to Mesuru.

Hours after receiving the licence, the first construction were kicked off at a 10,000 sqm. secure cultivation field in the province, The new licence expands ASIF420’s diversified international footprint and complements its existing greenhouse facilities to provide a leading balance of facilities to produce low cost input materials for value-add products, while ensuring more sophisticated growing operations for in-demand flower products.

“We want to produce Medical Cannabis that will improve the quality of life for ordinary people around the world – medicines that are effective, of high quality, affordable and have no harmful effects; and we want to share our knowledge with our hosts, partners and the local communities who’ve joined our journey.” said Zeharia Paz, Chief Cultivation Officer, ASIF420. “At this stage in the summer planting season we view this as a pilot and ramp up project for greenhouse cannabis cultivation, though the team will do everything it can to deliver low cost yields next year.”

The successes of the Company’s medical grade cannabis operations will inform its overall strategy, as it seeks to optimize the methods used to cultivate current and future crops at the outdoor site. Once the entire outdoor cannabis cultivation, production and extraction system is fully licenced and incorporated into ASIF420’s current operational platform, it will produce cannabinoids at scale to support value-add products at higher margins than are achievable using inputs from indoor and greenhouse facilities, which are optimized to produce high quality flower products.