MC Therapeutics announced that it will no longer be growing medical cannabis in Australia. The company aimed to produce organic cannabis using a closed-loop system at their 16.2-hectare site in Queensland but failed to raise sufficient funds. On Instagram, the company's founder, Tristan Hyodo, said that he will now be focusing on the import/export and wholesale side of the business instead.
The site where the facility was supposed to be located, in the Moreton Bay Region, is now for sale, with the licenses for medicinal cannabis production attached.
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Australian company quits plans to grow medical cannabis, site for sale
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