In a surprising twist, Highlands Investments, a pioneering force in Lesotho's cannabis market, is slated for auction, raising eyebrows within the industry. Known for spearheading the country's legalization process and securing one of the inaugural and largest trading licenses, the company has been a prominent player in the African cannabis landscape. Despite posting positive news and success stories, including groundbreaking exports and a significant merger in 2021, the 100% equity buyout signals an unexpected shift for a company seemingly on an upward trajectory.
Broll Auctions and Sales is set to oversee the auction of Highlands Investments, presenting a unique opportunity for potential investors or trade players to diversify their agricultural exposure. The business up for auction includes 20 hectares of cannabis cultivation featuring strains like Moby Dick, Diet Durban, Cloud Walker, and Super Silver Haze. Key assets encompass the company's coveted Medical Cannabis Cultivation License, providing the right to cultivate up to 200 hectares, along with a 60-year lease allowing for further expansion. The package also boasts a modern processing and packaging facility, a natural aquifer, mega boreholes, reservoirs, an integrated irrigation system, and substantial CBD and THC biomass.
Reflection on Past Glory
Despite the unexpected turn of events, it's crucial to reflect on Highlands Investments' remarkable achievements. In 2021, the company reported a groundbreaking sale of 8.5 tonnes of Highlands Pure THC and CBD flower and trim to the European medical cannabis market. This followed a successful shipment of 176.5kg of THC flower exported to Macedonia earlier in the year.In the same year, Highlands had merged with Goodleaf Company, creating the largest vertically integrated cannabis operation in Africa, with an investment exceeding R350 million.
The auction, scheduled for November 22 at Wanderers Club in Johannesburg, marks a pivotal moment for an industry leader facing an uncertain future despite its impressive track record.
This story was originally published by BizCommunity – South Africa, and MyCannabis will be reaching out to relevant parties to get more details.