Benchmark Botanics of Vancouver, a Canada-licensed medical-grade cannabis company, signed a definitive agreement with Zhejiang Yatai Pharma to set up a Canadian JV to grow and market high cannabidiol (CBD) cannabis products. The companies said Benchmark would contribute its cannabis growing and extraction experience with Yatai’s drug R&D. The JV will have $10 million in capital, with Zhejiang Yatai contributing half. Ultimately, Benchmark wants to market medical cannabis and hemp in China and throughout Asia.
Source: China Biotoday
