Mota Ventures Corp out of Canada has signed a binding letter of intent to acquire Jamaican cannabis grower and extractor, Tropical Verde Coast Ltd, as it targets the Caribbean cannabidiol or CBD oils market.

CBD oil is a derivative of hemp and is being increasingly used for its medicinal benefits and is effective at treating a range of ailments.

Based on its medicinal value, CDB oils can potentially address conditions from sleep disorders to chronic pain to dealing with discomfort from cancer treatment.

Tropical Verde is an arms-length party licensed cultivator with a focus on cultivation and extraction of cannabis as well as distributing cannabis products in herb shops, dispensaries and health and wellness retail locations across the Caribbean.