Indocan Resources, Inc. has been issued a license by the state of Wisconsin to grow industrial hemp.
This license allows us to grow and extract Cannabidiol (CBD), and to sell full plant extract for medicinal purposes.
We are currently cultivating approximately 550 industrial hemp plants, some of which will be used for the extraction of CBD oil.
We also plan to produce seeds for sale from our seed plot and clone other selected plants year-round at various grow facilities.
Management of Indocan Resources, Inc. has acquired an option to purchase 10% of the issued and outstanding common shares of the company from the estate of a large shareholder. Terms were not disclosed.