Cannabis Firm Plans South Africa IPO, Magic Mushroom Expansion

Cilo Cybin Pharmaceutical Ltd. is considering an initial public offering in the next 12 months after becoming the first South African company to win the right to grow, process and package cannabis products.

The firm, named after the psychoactive substance in magic mushrooms, received the required certification from the South African Health Products Regulatory Authority. It will now be able to produce marijuana for sale to consumers around the world, founder and Chief Executive Officer Gabriel Theron said in an interview.