SOURCE: South American Gold Corp

South American Gold Corp

December 09, 2015 09:00 ET

Uruguay Grants First Two Licenses for Commercial Cannabis Production and Distribution

LAS VEGAS, NV--(Marketwired - Dec 9, 2015) - South American Gold Corp. (OTC PINK: SAGD) Uruguay granted its first two licenses for commercial cannabis production and distribution. The first two companies will begin selling cannabis through government licensed pharmacies next year. The licenses allow each company to produce up to two tons of finished product.

"We are pleased that Uruguay has begun issuing licenses for production and domestic distribution of cannabis," said SAGD's CEO Marianne Rasmussen. "We feel this move further validates our decision to enter this market now, and to focus on Uruguay as our headquarters for South American cannabis operations." 

In addition to the now functioning government licensed operations, Uruguayans are able to legally grow as many as six plants each or join cooperatives with other citizens.

"Issuing of these licenses is an important step. A legal, licensed and regulated marketplace creates an environment where capital and knowledge can be put to work developing Uruguay into a regional center for high-quality cannabis cultivation," continued Rasmussen.

About SAGD: South American Gold Corp is focused on becoming the premiere provider of value added products and services for the cultivation and processing of cannabis for the South American medical and recreational markets with an initial focus on the Uruguayan market. 

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