CANNABIS CULTURE – Some critics worry this could be an “over-reach.”
Cilo Cybin bills itself as the first firm to win a full cannabis license in South Africa. Their intriguing name reflect the active ingredient in mushrooms that gives one a “magical” feeling.
But with a basketful of plans to exploit Durban Poison, a unique South African cannabis strain; bio-hacking; branding; cultivation; dual IPOs, some critics feel Cilo Cybin is emblematic of the dilemma of South Africa´s cannabis startups: doing too much at once, too fast.
“We are currently a South African cannabis company in the process of becoming a multinational. We have other entities registered in Panama, and the Netherlands. Our roots started in South Africa, from there we branched out,” Gabriel Theron its chief executive tells Cannabis Culture of their dual intention to do an IPO at home in South Africa, and possibly another one in Luxembourg in Europe in 2022.
Cilo Cybin is the active ingredient in magic mushrooms, and Theron says he picked up this name because they were looking for words or phrases that got something to do with magic to differentiate themselves in the increasingly competitive $1, 9 bn South Africa cannabis