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The $5 million USD deal includes two mining titles as well as "technical information and ancillary assets," said the Canadian mining firm.

David Gordon, former managing partner in Canada for global public relations firm Cohn & Wolfe, will step into his role with PharmaCielo on October 1.

The next step for the well will be to run and cement a liner in preparation for further testing, which is expected to take “several weeks,” said Frontera.

The Toronto-based company, which has its main operations in Colombia, is trading under the ticker symbol KHRNF.

"This acquisition represents a significant milestone for the cannabis industry, being the first in which a major multinational agricultural corporation has taken a position in a joint venture of this nature,” said Avicanna.

The visit will be a part of the secretary’s larger trip to South America, including stops in Brazil, Argentina, and Chile.

The new plants are a THC-dominant variety, which trigger a psychoactive response, whereas the earlier crop were cannabidiol, or CBD, dominant.

In an effort to simplify how business is conducted (and taxes are assessed), many national governments enter into legal agreements designed to clarify the law and mitigate double taxation. The ultimate goal of these agreements is to encourage economic activity and investment...

The Canadian oil company plans to buy back $250 million USD in previously issued notes, with the remainder going to “general corporate purposes."

Canadian oil company Frontera Energy Corporation will split its stock this year, issues a two-for-one share split on June 26.