Prime Ranchers

Prime Ranchers was a Ugandan cannabis cultivation and extraction company operating as Prime Ranchers Limited. The company was used by EXMceuticals as its local subsidiary/joint-venture vehicle in Uganda to cultivate cannabis, extract cannabinoids, and export pharmaceutical-, therapeutic-, nutraceutical-, and cosmetic-grade cannabis ingredients. Public sources indicate the business was licensed in Uganda in 2019 and was positioned around large-scale industrial cultivation and processing rather than development of a proprietary drug pipeline. Later sources indicate the company was acquired in November 2018 by EXMceuticals and that EXMceuticals subsequently agreed to sell a 70% stake in 2020. Based on the available evidence, Prime Ranchers appears to have been an operating cannabis ingredients business rather than a traditional biotech drug developer.