“We are pleased to be the first in Colombia to complete the sale of pharmaceutical grade, full spectrum cannabis oil for both human and veterinary use, to our national clients,” said Borja Sanz de Madrid, President of Ikänik Farms International.

In addition, the Company completed its first R&D sale with the Universidad Pontificia Bolivariana, Medellin to commence clinical research on cannabis-based treatments for the coronavirus (COVID-19).

Ikänik Farms says that it has obtained all required pharma and agronomic certifications, enabling it to be the first in Colombia to complete a seed to “commercial sale”, for use in the pharmaceutical form known as formula magistral.

The company completed five commercial sales including Laboratory Efrata Flower, for patients seeking relief from pain, nausea, anxiety, and insomnia and in the veterinary marketplace, to Equinab, for the treatment of anxiety and pain in equine and canine’s, and equine melanoma.

Monthly sales orders are expected to incrementally grow over the next 12 months.

Ikänik Farms intends to expand its commercial client base nationally and internationally through contract production and strategic partnerships, aiding in mitigating risk through growth cycles and capital deployment, as it continues to scale global operations.

“We are very proud to be part of Colombia’s medical cannabis market and look forward to supporting the emerging global marketplace, from Casa Flores,” said Brian Baca, CEO of Ikänik Farms.