An international market for marijuana that had been ‘flying’ just a few months ago is now slipping into decline and prospects for the future of the Jamaican market now appears to be ‘going soft’ according to sources close to the industry, including the Director of the island’s Cannabis Licensing Authority Delano Seiveright.
The Jamaica Gleaner reported in its last weekend’s business section that the once high-flying Canadian cannabis company, Aurora, had sold out its once presumed highly lucrative cannabis assets in Jamaica for what, just months ago, might have been thought of as the piffling sum of CAD$4.5 million, a price reportedly agreed upon in order that the company could receive an immediate-term cash payment. Beyond that, the Gleaner also reported that Aurora had settled for CDN$3.4 million for its extensive property in the CARICOM island nation. The company has reportedly also been selling off some of its other marijuana-related assets elsewhere in order to focus on consolidation in Canada.
