The House She Built a Source of Conflict

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There was a time when everything seemed to be going right for Amara . She was a beautiful woman, not only in appearance but in the way she carried herself. She grew up in a loving home, surrounded by parents who worked hard and believed that their children should never lack opportunities. Her father was a respected man who worked tirelessly to provide for the family, while her mother was equally hardworking. They raised their daughters with discipline, kindness, and the belief that education and hard work were the keys to a good life. Amara was the elder daughter. Her younger sister, Nadia , was also intelligent and ambitious. The two sisters grew up watching their parents work together, and they learned an important lesson from them: nothing worthwhile comes without sacrifice. As the years passed, both sisters became successful in their own ways. Amara worked hard, saved her money, and eventually achieved something she had dreamed about since she was young. She bought a beauti...
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Cannabis company plans listing after being handed first rights to grow and package weed products in South Africa

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 24 August 2021

Cilo Cybin Pharmaceutical is considering an initial public offering in the next 12 months after becoming the first South African company to win the right to grow, process and package cannabis products.

The firm, named after the psychoactive substance in magic mushrooms, received the required certification from the South African Health Products Regulatory Authority.

It will now be able to produce marijuana for sale to consumers around the world, founder and chief executive officer Gabriel Theron said in an interview.

“The plan for the next 12 months is to go public,” Theron, 40, said at Cilo Cybin’s operations near Pretoria.

“We are planning a dual listing with the main board being the Johannesburg Stock Exchange, and we are thinking Luxembourg possibly for a secondary listing or another bourse in Europe.”

The money raised will partly be used for its cannabis business, which uses a strong South African strain called Durban Poison with high levels of tetrahydrocannabinol, or THC, the main psychoactive chemical.

It will also be used to develop other activities such as biohacking, the practice of using apps or supplements to improve health.

Psychedelic research

While the cannabis industry has been legalized in a number of countries, companies are now betting that a similar shift will take place in the market for psychedelics.

Cilo Cybin has applied for a research permit to explore the uses of the magic mushroom chemical psilocybin.

“Psychedelics can be used for anti-depressants, post-traumatic stress, for anxiety — I really think it is going to be a lot bigger than cannabis even,” the chief executive said.

Cilo Cybin has built a high-tech, indoor growing facility that can produce about 100 kilograms (220 pounds) of cannabis flour a month. That sells for between $2 and $4 a gram at wholesale prices.

The company can also produce cannabis oil, used to treat illnesses including cancer, that sells for about $100 per milliliter, Theron said.

South Africa has awarded 28 cannabis licenses and made some regulatory headway in developing the sector. The region’s climate is suitable for growing high-quality product at a low cost.

With the company now able to export cannabis, Cilo Cybin is signing several international deals to enable distribution in Australia, Brazil, the UK, parts of Europe and Israel, said Theron.

The firm also has research and development partners in place with universities and institutes that will get royalties when the products are commercialized, he said.

Read: JSE-listed Labat acquires R11.25 million stake in Northern Cape medical cannabis producer

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