Canndeo – a wholly owned subsidiary of THC Global – has been granted a manufacturing license to produce medical cannabis extracts and tinctures in Australia by the Australian Office of Drug Control. With the new license, THC can grow its own cannabis strains, harvest and process the material to produce its own cannabis-based products for the Australian as well as global markets.
THC (via its subsidiaries) now holds three key cannabis licenses in Australia – for research, cultivation and manufacturing medicinal cannabis products in the country.
THC is going to lease land for cultivating cannabis in Australia – which includes a 60,000 square metres of leased land (subject to a cultivation permit) as well as an agreement with EVE Investments to lease additional land bringing its cultivation site potential in northern New South Wales up to 150,000sq m.
From the manufacturing aspect, THC owns a pharmaceuticals bio-manufacturing facility that has a testing and product development laboratory.
The company also has cannabis production site in Nova Scotia, Canada – where 37,000kg of dried flower annually are expected to be produced in the first phase.
THC targets to sell cannabis products in Canada, Europe, Asia and the Middle East via its local operations and partnerships.
Find out more about cannabis market demand and supply at CMT’s CannaBiz Invest Asia on 29-30 August, 2019 in Bangkok.
11 Jul, 2019
The New Zealand government is preparing to introduce new regulations related to licensing requirements and quality standards associated with medicinal cannabis usage by the end of 2019.
The Ministry for Primary Industries (MPI) in consultation with Ministry of Health has updated the cannabis regulations, allowing the first company in the country - Hikurangi Cannabis Company to import stronger cannabis under the new biosecurity laws. Hikurangi Cannabis Company can now cultivate strains with high levels of THC and legally grow 16 new varieties of cannabis for medicinal purposes – out of which - five strains will be high-THC, seven low-THC and four high-CBD. Hikurangi is New Zealand’s first company to be get a medicinal cannabis cultivation licence, last year.
Meanwhile biosecurity measures are expected to become tighter with the introduction of high-THC strains into New Zealand.
In another development, Australia's Cann Group has announced an investment of $6 million for a 20% stake in New Zealand’s local medicinal cannabis company - Pure Cann New Zealand.
The first 10% of the investment is expected to be completed by August 30, 2019 while the remaining 10% is expected to be completed once New Zealand regulations come into force and Pure Cann's board approves the construction of its commercial cultivation facility.
Pure Cann plans to develop a variety of organic medicinal cannabis products that for patients in New Zealand as well as in overseas markets.
Meanwhile personal cannabis use in New Zealand will be subject to a vote in a binding referendum at the 2020 general election.
Find out more about ‘Cannabis Legislation in New Zealand’ from Manu Caddie, CEO, Hikurangi Cannabis Company at CMT’s CannaBiz Invest Asia on 29-30 August, 2019 in Bangkok.
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17 Jun, 2019
Thailand became the first South East Asian country to allow the use of cannabis oil in medical trials. The country is expected to start state-sanctioned clinical trials testing the impact of cannabis oil on selected patients in July, this year.
Government Pharmaceutical Organisation (GPO), Thailand is expected to allow administration of extracts or "sublingual drops" on volunteers suffering from nausea and pain from chemotherapy, among other ailments during the trials.
The cannabis oil is supposed to be extracted from a government-managed indoor plantation that opened recently in the outskirts of Bangkok. The facility has approximately 140 plants that are cultivated under controlled lighting, temperatures and a misting system known as aeroponics.
Medical cannabis is gaining acceptance worldwide and several countries have legalized medicinal cannabis, including Canada, Australia, Israel, and more than half the states in the US. The global market for medical marijuana could reach about $55.8 billion by 2025, according to Grand View Research.
Medical cannabis will be addressed at CMT’s CannaBiz Invest Asia on 29-30 August, 2019 in Bangkok.
10 Apr, 2019
