Labat Africa makes moves in the growing cannabis economy
By BR Reporter
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JSE-listed, Labat Africa Ltd is making moves to become a major player in the cannabis economy. The company has acquired a 75% stake in Leaf Botanicals Pty Ltd, a cannabis growing and cultivation facility and one of the first companies in South Africa to be issued with a cultivation and export license.
Labat Africa also recently announced that it has an agreement with global hemp and Cannabidiol (CBD) smokable brand, Ace and Axl.
In a statement, Labat CEO Brian van Rooyen said these latest business moves would make the company shift to a healthcare business that encompasses the entire cannabis value chain.