The Canadian company, Canadian Imperial Venture Corp, recently announced the formation of Ikänik Farms, Inc. The agriculture company has purchased a 100% stake in the Delta 9 Corporation in Mexico.
D9C, based in Coyoacán, Mexico, is the first Mexican company to have official permission to legally import and export cannabis seeds. The Amparo process that the company operates under makes it the only company of its kind right now. Ikänik will use this opportunity to produce cannabis and CBD products for pharmaceutical companies under contract.
“I am very excited to welcome D9C and its team of scientific, legal and regulatory specialists who have been exemplary leaders, shepherding the cannabis legalization process and providing Ikänik the opportunity to be a 1 of 1 in Mexico,” Brian Baca, CEO of Ikänik Farms, Inc., said in a press release.
As the exclusive Amparo representative, D9C has the right to import, cultivate, and produce cannabis products for national and international markets. This gives the company an advantage in being the first to be able to bring “Hencho en Mexico” to their products.
The company plans to sell products under its family of brands to the pharmaceutical industry in Mexico. They will be able to scale their supply chain as they continue to negotiate agreements for pharmaceutical grade cannabis. Being the first mover in this market will allow Ikänik to move into production and outpace the competition.
The final deal will include up to 10 million common shares of Ikänik, depending on if certain conditions are met by D9C.