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UTech, Jamaica and Ganja Labs USA Break Ground for Ganja Research

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The University of Technology, Jamaica (UTech., Ja) in partnership with Ganja Labs, LLC, USA have officially broken ground at the site of the first state-of-the art Medical Marijuana Research Grow and Extraction facility located across from the historical silos on the North East of the University’s Papine campus.

It follows UTech, Jamaica’s receipt of a licence on May 14, 2015 to cultivate marijuana for scientific and medical research.

According to Acting President, Prof. Colin Gyles acknowledged the work being done by the University-wide UTech, Jamaica Cannabis Collaborative group in executing the terms of the University’s licence to grow and research the plant for medicinal purposes. He says “with the current global interest in research and commercialization of cannabis and hemp for medicinal, cosmoceutical, nutraceutical and functional foods, UTech, Jamaica intends to improve Jamaica’s capacity to reap the social and economic benefits that are expected to be realized from this nascent industry.”

Meanwhile, Chairman of Ganja Labs, LLC, USA, Balram Vaswani, says the research facility will include laboratories for indoor and traditional outdoor growing conditions for medical marijuana. He says twenty-eight strains will be grown and tested for efficacy in medicinal use – 7 indica, 7 sativa, 7 hybrids, and 7 high CBD strains in the first phase of the pilot project.

Vaswani says small farmers across the island could also benefit from the research at the facility. He says special comparative research and experimentation will be done, including on nutrients and various methods of pharmaceutical extraction.

The first plants will be planted on December 1, 2015 with the first crop expected by March 2016. The second phase will involve tests and extraction at the curing facility.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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