Wuhan [China] signs letter of intent with Biodelta [South Africa] one month after launching psilocybin division

Although the psilocybin industry is still in its nascent stages, all signs suggest that the momentum behind developing psychedelic medicines will continue to grow.  As James Hamblin recently wrote in The Atlantic, “The growth of cannabis is a reminder that once there is money to be made, industries form lobbies in Washington, D.C., and it becomes difficult to contain the profit-driven energies that have put CBD in every conceivable product….”

The LOI between Wuhan and Biodelta calls for Wuhan’s purchasing 49% of Biodelta’s land, buildings, and infrastructure. These assets include but are not limited to:

  • 1.3 million square feet of cultivation space
    • 300,000 sq. ft. of turnkey space
    • 1,000,000 sq ft. of additional space expected by 2021
  • Specialized ISO 22000 processing factory 
  • 8 Industrial GMP compliant dryers
  • Water rights

A full agreement between the parties is expected to be reached in 45 days (on what appears to be July 1st, 2019). M2BIO which focuses on… psilocybin products.

Original Article (Psilocybin Technology):
Wuhan signs LOI with Biodelta one month after launching psilocybin division
Artwork Fair Use: Discott




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