New Colombia Resources Inc (OTCMKTS:NEWC) shares are up 10.81% to $0.00820. Share prices have been trading in a 52-week range of $0.00 to $0.05. The company has a market cap of $1.49 million at 286.26 million shares outstanding.
In a press release, New Colombia Resources Inc announced that their joint venture in Colombia, Sannabis has received a “Registro Sanitario” from Colombia’s Ministry of Health’s INVIMA.
Their registry number is for 10 brands, but only four were registered; Sannaxhol for pain relief and anti-inflammatory, Sannaderm for skin abrasion and post tattoo care, Sannalip which is a lip balm, and a product soon to be announced. The company plans to register an additional six products possibly through joint ventures for worldwide distribution. These products are manufactured by an INVIMA certified manufacturing facility with Good Manufacturing Practices.
Aside from that, New Colombia Resources Inc is working with a partner to submit an application for an orphan drug designation for a pharmaceutical product that will be announced upon submission.
“Most hemp seed products are imported to the United States from Canada. Needless to say, Colombia has more ideal growing conditions than Canada, evidenced by the Canadian medical marijuana companies down here trying to set up shop. We’re positioning ourselves as a leading distributor of high quality ‘Made in Colombia’ medical marijuana and hemp products around the world,” stated John Campo, President of New Colombia Resources Inc.
New Colombia Resources Inc is a metallurgical coal company that is focused on the acquisition and development of high quality metallurgical coal producers in Colombia. In particular, it is focusing on its La Tabaquera coal and rock project located in the Municipality of Guaduas, approximately 100 kilometers northwest of Bogota.
The 57 hectares La Tabaquera and the 390 hectares mine La Herradura, are located to the west of the La Bermeja Ravine, crossing Rio Guaduero from north to south, with a linear extension of 2.5 kilometers north-south direction and 0.2 kilometers approximately, from east-west. The Company’s rock crushing plant has a processing capacity of over 100 cubic meters (m3)/hour of aggregates. New Colombia Resources Inc also has a medical cannabis business in Colombia operating as Sannabis SAS.