Botanic Wellness Limited was established in 2019 to acquire all of the shares in Medical Marijuana Investment Fund Pty Ltd which operates in Australia and Live Opulent Inc. which operates in Arizona, Colorado and Texas in the USA.
The Company operates fully licensed indoor and outdoor CBD hemp seed growing facilities in Colorado, Arizona and Texas, and intends to soon expand into California. The Company also has broad acre CBD hemp crop growing operations in Arizona and Texas in the USA. The Company also now imports CBD hemp seeds from the USA to Australia and operates licensed CBD seed growing and CBD hemp growing operations in New South Wales under various licenses and permits and under a number of different joint venture farming operating arrangements.
The Company’s, joint venture farming agreements enable the Company to plant and cultivate significant acreages of crops at a lower price than if it entered into traditional farm ownership or leasing arrangements. Under the agreements the farmer contributes their farmland, general farming expertise, machinery and labor to plant, grow, maintain and harvest the crops at pre-agreed costs and the Company contributes its CBD hemp seeds, licenses and permits, and specific CBD hemp growing, processing and sales and marketing expertise also at an agreed cost.
The actual costs incurred in all aspects of the operation, by both the Company and the farmer, are then reimbursed in full on a pro rata basis when the various CBD and hemp products produced on the specific land are sold. The profits derived from each crop, when all the seed, biomass, crude, distillate and final branded products have been sold are then shared on a 50/50 basis between the Company and the farmer.
The Company currently outsources its extraction and manufacturing operations to a number of established and certified third party extraction and manufacturing company’s in the USA but is in the process of bringing certain of these operations in-house to streamline its operations and further reduce its overall production costs. This is expected to commence in H1 2021 with the development of the Company’s in-field mobile extraction and processing capabilities.
The Company proposes to further expand its existing USA farming operations in Colorado, Arizona, Texas and California and to expand into additional USA States as and when additional strategic opportunities arise. The Company also plans to expand its Australian growing operations in New South Wales and to establish in-house extraction, processing and manufacturing facilities in Australia when it becomes commercially feasible to do so as laws in Australia are further relaxed.
The Company’s Board consists of a number of experienced individuals based in Australia and the USA who have significant investment banking, legal, financial and public company expertise with a particular interest in, and and focus on, the CBD hemp sector and the development of early-stage companies. Botanic Wellness has also established an experienced Advisory Board to advise on the further development of the Company’s operations in the CBD hemp and related sectors in the USA, Europe, Australia and South East Asia .