Guernsey, February 16, 2023 - Master Plant Holdings (“Master Plant” or the “Company”), an emerging player in the European cannabis industry, has achieved a major milestone with the award of a cannabis licence for research and development, as well as manufacturing. The licence, the second issued by the Bailiwick of Guernsey, positions Master Plant among a handful of companies in the UK and British Isles to achieve such status.
Master Plant is well placed to capitalise on the burgeoning legal cannabis market in Europe which is estimated to be valued at $13.4bn by 2027 by Market Data Forecasts. The Company has consolidated decades of research and development into its proprietary cannabis genetics bank, providing for a diversity in major and minor cannabinoids, and other beneficial molecules that will contribute to a vast assortment of future products.
“Our legacy strains, with years of innovation and market penetration on the clock, give a substantial platform for launching premium products and developing further strains. It's really encouraging to see investors focusing on genetics and quality these days. This is how the industry has traditionally prided itself, rather than the huge and frequently failing projects of recent years,” says Master Plant Chairman and industry veteran, Len Werden.
Master Plant intends to retrofit its 60,000 sqft greenhouse in Guernsey to build a world class cultivation and manufacturing facility with the intent to serve the legal cannabis market. The Company will focus on the further development of its genetics portfolio and the creation of highly controlled single-serve products, alongside its manufacturing, brand, and distribution capabilities.
“This is meaningful step for Master Plant and its investors. We would like to thank the Bailiwick of Guernsey Cannabis Agency and all parties that have supported us thus far. The European cannabis industry is full of promise and with our Team’s extensive knowledge and experience from the North American markets, we have a great opportunity to create a major European entity with solid fundamentals,” says CTO Phil Petelski, who has licenced and built eleven cannabis facilities in North America.
Master Plant, upon completion of investment, will begin the retrofit of its facility in Q2 of 2023, with a targeted completion date for early 2024.
About Master Plant
Master Plant is blazing the trail in the legal adult-use cannabis market. This market exists today via medical and low THC products across Europe. Master Plant is building brands and products to meet today’s legal requirements with an eye on unlocking the future potential of full-strength THC. Master Plant’s goal is to improve well-being across generations with life-enhancing products.