Acquisition made through its Pharmaceutical Division, Seven-10

The Pure Jamaican Group of Companies has acquired the production and cultivation assets of its Jamaican competitor, medical ganja company Timeless Herbal Care.

The acquisition, which was made through the Pure Jamaican Group Pharmaceutical Division, Seven-10, which was founded specifically to help the world’s leading pharmaceutical manufacturers and scientists create a revolutionary new generation of medicines from cannabinoids grown and extracted in Jamaica

The assets bought includes all of Timeless’ production and cultivation assets, a licence to the Timeless brand in Jamaica, and ownership of the Timeless brand in Brazil, Mexico and Switzerland. Arising from the takeover, Seven-10’s pharmaceutical manufacturing capacity in Jamaica will be expanded.

Timeless Herbal, which was founded by Courtney Betty in 2014, is the first company in Jamaica to achieve Good Manufacturing Practices (GMP) certification for medical cannabis extraction and production, and the first company to legally export medical cannabis from Jamaica to Canada.

Big support for the takeover of Timeless Herbal

In making the announcement about the take-over, Pure Jamaican Co-Founder and CEO Scott Cathcart explained that, “Timeless helped set a high standard for the cannabis industry in Jamaica, not just in its GMP certified, science-based extraction methods, but also in its respect and support for the Maroons and Rastafari farmers as a leader of the Alternative Development programme”.

According to Cathcart, “we are pleased to expand our platform of pharmaceutical grade production, delivery and export of cannabinoids, psilocybin, and other plant-derived molecules from our base here in Jamaica through this acquisition.”

For his part, Timeless’ Founder and CEO Courtney Betty remarked that, “this alliance with Pure Jamaican gives Timeless access to scalable production of pharma grade cannabis products, including products targeting pain and anxiety. Pure Jamaican’s manufacturing and distribution platform is a model for the industry, especially where there are global opportunities.”

The acquisition is supported by the Government of Jamaica through the Ministry of Industry, Investment and Commerce. In confirming this support, Industry, Investment and Commerce Minister Audley Shaw said the move is a good one for Jamaica.

“We are extremely pleased to see the Pure Jamaican group of companies continuing to leverage its exceptional global vision by collaborating with early market leader Timeless Herbal Care,” Shaw said.

He added that, “Pure Jamaican’s mission to produce world-class, pharmaceutical grade medicinal cannabis products for global export will help Jamaica become a major supplier of cannabinoids to the world. We believe this will create a very important economic engine for Jamaica.”

With a team spanning the US, Canada, Jamaica, Mexico, and Brazil, Pure Jamaican is a multinational organisation on a mission to help people and populations achieve well-being, and to help transform lives globally. Pure Jamaican’s diverse revenue streams support sustainable long-term value creation in the pharmaceutical, nutraceutical and consumer packaged goods (CPG), which are products that are sold quickly and at a relatively low cost.