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.