The Government of St. Vincent and the Grenadines has made EC$15 million from medical marijuana licences, three times more than anticipated in the first year.
Minister of Finance, Camillo Gonsalves, speaking at the Unity Labour Party’s rally, on Sunday, to celebrate its 25th anniversary said that he had asked Minister of Agriculture Saboto Caesar, last year, about his projections for the first year of the industry.
Gonsalves said Caesar told him that the industry had just started and he was anticipating about $5 million.
“Already this year, five million, we gone past that; 10 million, we gone past that; 15 million dollars Saboto Caesar has earned already in licence fees from the medical cannabis industry, and we are just getting started,” Gonsalves told the thousands of persons at the decommissioned ET Joshua Airport in Arnos Vale.
Gonsalves noted that Caesar had told the rally earlier that no traditional farmer will be left behind
“Remember, before we came to office, the New Democratic Party used to let the Americans comes in here with their weed eaters and their planes to spray unknown chemicals all across St. Vincent and the Grenadines to burn out ganja,” Gonsalves said.
“We say no. We are going to form a modern medical cannabis industry in compliance with the law but taking advantage of our talented farmers, taking advantage of our fertile soils and bringing in revenue for people of SVG,” the finance minister said.
Speaking in Vermont last Friday, Jerrol Thompson, chief executive officer of Medical Cannabis Authority, said that the government has issued 15 major licences and over 240 traditional cultivators’ applications are being processed.
There are 10 groups involved in that grouping, encompassing over 140 members in those 10 groups. The companies are at different states of deployment.
Thompson spoke at the launch of Green Lava Labs, a medical marijuana company.
At the event, Thompson presented the company with the requisite document allowing them to begin planting marijuana.
Green Lava Labs has a class C medical marijuana cultivation license, which allows them to extract, import, export, dispense and cultivate up to 25 acres of cannabis.