CEO Hamish Clegg brings us up to speed with the development
The E&L have been asked a number of times recently about the Hilltop Leaf project based near Langholm and what progress is being made.
Hilltop Leaf is a private medicinal cannabis cultivation and extraction business for cannabis based products for medicinal use in humans (CBPMs)
We posed a number of these questions to the company and received a comprehensive update from CEO Hamish Clegg.
When do you expect to be fully operational?
In the last two years the recent macro environment has significantly impacted global capital markets, and therefore Hilltop’s funding pathway, delaying (and reducing) investment in our facilities.
That said – last year Hilltop Leaf invested modestly in some infrastructure and has become a fully operational Wholesaler meeting the needs of c10,000 in the UK.
As a wholesaler the company has grown a nationwide pharmacy client base and posted >£3m of sales of CBPM medicines in the 2024 calendar year supporting eight local jobs.
Investments have included c5,000m2 of concrete and drainage (installed by RD Nairn), and electrical works by CBR Electrics and other local suppliers.
Furthermore – the recent good news is that the company is finally funded for the next phase of capital expenditure with a c£2.5m capital raise completed in late 2024.
This new funding will allow the company invest in infrastructure to both grow and manufacture by the end of 2025.
The development will improve Hilltop’s profitability, therefore creating jobs and allowing supply of a Scottish made medicine to patients across the UK.
Read much more in this week’s E&L available at your Newsagent or available online by subscription. Click HERE
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