Australian medicinal cannabis producer ECS Botanics is taking its expansion plans global after securing a significant funding boost from one of Australia's biggest banks.
The Victorian-based cultivator announced on Monday it had increased its National Australia Bank loan facility by $2 million to a total of $5.2 million, while also securing an additional $400,000 for its revolving leasing facility.
The cash injection arrives as ECS prepares to introduce California's cult cannabis brand Terphogz to new markets worldwide, starting with an Australian B2C launch this quarter.
"We have established a strong foundation for this project," said ECS Managing Director Nan-Maree Schoerie, who highlighted their plans to roll out Terphogz products in the UK by mid-year, with Germany and New Zealand launches to follow.
Read more at Au Manufacturing