THC Global Group Limited (THC Global or the Company) (ASX:THC) is pleased to provide an update on the Company’s domestic cannabis operations, including securing an Australian export licence, expanding the Company’s Northern NSW cannabis cultivation project, and exploring new product development opportunities.
Medicinal Cannabis Export Licence Granted
THC Global confirms that it has been granted a Medicinal Cannabis Export Licence by the Australian Office of Drug Control (ODC) which is required in order to be able to export medicinal cannabis from Australia. Securing this licence is a key milestone in developing a future export pathway of THC Global’s Australian cannabis, and places THC Global in an increasingly stronger position to take advantage of its industry leading manufacturing capability and its global reach.
Northern NSW Cultivation – Increased Cultivation Capacity
THC Global has confirmed its binding intention with EVE Investments Limited (ASX:EVE) to lease additional USDA certified organic land to bring the total leased land for the Northern NSW cannabis cultivation site up to a potential 150,000m2. The lease is subject to THC Global confirming that the additional land is suitable for lodgement of a cultivation licence application with the ODC.
The currently leased 60,000m2 land is the subject of a medicinal cannabis cultivation licence lodged by THC Global last year, which has now progressed to “assessment phase” by the ODC and is expected to be received this year. Receipt of this licence will allow for the first part of the extended project to commence which is expected to deliver biomass for production at THC Global’s biopharmaceutical manufacturing facility as well as for supply to EVE under an off-take agreement for Meluka Health’s proposed cannabis honey product.
For more information:
THC Global Group
Level 2,
131 Macquarie St
Sydney NSW 2000
+61 (0)2 9251 7177
thc.global