Ananda Developments PLC is pressing on with third-party tests of its 2022 harvested cannabis cultivars in preparation for deciding which varieties to choose for commercial growing.
In an operations update, the Aquis-quoted group said it is also preparing for the 2023 natural season cultivation cycle through the installation of blackout screens, fans and monitoring systems. These are being installed to increase its ability to manipulate growing day length and temperature without using high-cost artificial light and heat.
The company said it remains committed to its strategy of the natural season growing as the best way to achieve the highest quality medical cannabis flower at the lowest cost. Ananda noted that its head of plant science has this month been trialing a new technique for converting female flowers to males, a key part of the genetic stabilization process.
The company believes that this will both increase the pace of the genetic stabilization program and maximize the efficacy of the process. Following the completion of its acquisition of the remaining 50% of subsidiary DJT Group Limited, which holds the medicinal cannabis license from the UK Home Office, Ananda's sole focus is as a grower and provider of medical cannabis in the healthcare sector.
In a statement, Ananda's chief executive Melissa Sturgess remarked: "We are extremely excited to be transitioning to this designation as a healthcare company and remain committed to building value for shareholders and delivering much-needed cannabis medicines to patients. "We sense a steady progression of maturity in this nascent medical cannabis industry, and we are delighted to be part of it."
Source: Proactive Investors