Australia’s Cann Group (ASX:CAN) says it now holds all health-related cannabis cultivation, production and manufacturing licences required beneath the country’s Narcotics Drugs Act
Final week the corporation announced the Federal Division of Health’s Workplace of Drug Handle (ODC) had authorized manufacturing licences for Cann Group’s current Northern and Southern medicinal cannabis facilities in Melbourne. The corporation notes suitable permits will nonetheless be essential in connection to undertaking certain activities beneath the licences it has.
“Securing our ODC manufacturing licences is an significant milestone that supports our completely integrated organization model method,” stated Cann Group CEO, Peter Crock. “The capability to undertake these activities at each our Northern and Southern facilities provides us considerable flexibility as we continue to progress the improvement of our new state-of-the-art cultivation facility close to Mildura.”
The corporation began harvesting medicinal cannabis at its Southern facility in Melbourne in August 2017.
Back in March, Cann Group announced its intention to buy a web page in Mildura, Victoria. Assuming that goes ahead, a 34,000 square metre greenhouse to be constructed at the web page is anticipated to have a production capacity of up to 50,000 kilograms of dry flower annually.
As effectively as cultivation, production and manufacture licences, Cann Group also has import and export licences essential beneath Australia’s Customs Act.
Mr Crock stated the newly-granted licences will complement arrangements in location with IDT Australia Ltd, which was granted its ODC manufacturing licence back in Might. IDT entered into a manufacturing agreement with Cann Group in August final year whereby the corporation will offer manufacturing support for medicinal cannabis‐based item formulations for provide to individuals each in Australia and overseas.
“IDT, which has GMP authorized facilities, provides us quick access to verified experience in pharmaceutical manufacturing whilst we continue to create our personal capabilities,” stated Mr. Crock.
Established in 2014, Cann Group was the very first corporation to be issued with a cannabis study licence by the ODC, which occurred in February 2017. The corporation was also issued Australia’s very first medicinal cannabis cultivation licence just a month later.
The corporation listed on the ASX in Might 2017. Cann Group’s key shareholder is Aurora Cannabis Inc, which holds just beneath 32 million shares and a 22.90% stake in the corporation at the time of publishing.