ECS Botanics has submitted plans to the Office of Drug Control to expand its Tasmanian cannabis farm by more than 100 times its current area.
If approved, ECS' cannabis cultivation area would be expanded from 2,500sqm to 320,000sqm an Australian first according to managing director Alex Keach. The share market has responded positively to the news in early trade, with shares up by 10 per cent to $0.06 per share.
"This expansion plan is big thinking and a first in Australia," says Keach. "It will enable multiplication of revenues while becoming a world class cultivator and manufacturer.
"We have immense confidence in this next step of agriculturalizing and industrialising cannabis following the success of our commercial size trial crop in Tasmania."
Read more at businessnewsaustralia.com