The DfE has today confirmed that GrowLab Organics (GLO) has been offered the first conditional medicinal cannabis licence for export in the Isle of Man.
The Gambling Supervision Commission has issued the first letter of approval in principle to GLO to cultivate, extract, manufacture, import and export medicinal cannabis.
Minister Crookall said: ‘The Isle of Man has a rich history of innovation in developing new sectors, and our Department plan clearly sets out ambitious targets through the Business Agency to fully realise the potential of this market in the Island.
‘This first offer letter represents the dawn of a new economic sector in the Isle of Man, which will drive high-value economic diversification across existing local sectors, stimulate job and training opportunities for Manx workers and encourage inward investment.
‘I am optimistic that this will play a key part in the Isle of Man’s economic future, and look forward to working with the Business Agency to continue to support and develop the highest calibre of companies establishing in the Island within the Medicinal Cannabis sector.’
Alex Fray, Chief Executive Officer at GLO, added: ‘The emerging cannabis sector is potentially the most exciting global development of this generation and has the capability to transform the quality of life for millions of people. GLO’s mission is to help people live better through the power of cannabis, whilst reducing the need for people to source cannabis from illicit sources for medicinal purposes. Our unique and innovative approach will improve the quality, consistency and range of products available to patients.
‘Historically cannabis was woven into the fabric of Manx agriculture with hemp being grown on the island for rope and sail cloth. Now it’s back, with a continuation of the island’s history of innovation and economic diversity and as part of that we expect to create over 50 jobs within the next three years.’