ABCANN GLOBAL CORPORATION (TSXV: ABCN) (“ABcann” or the “Company”) is pleased to announce that its wholly-owned subsidiary, ABcann Australia Pty Ltd. (“ABcann Australia”), has received an import license from the Federal Office of Drug Control in Australia. ABcann continues to work with government and its industry partners in Australia to develop exclusive programs targeting physician networks. Following receipt of any necessary approvals, including the approval of the TSX Venture Exchange, ABcann intends to supply medicinal cannabis to the Australian market via the Australian Department of Health’s TGA (Therapeutic Goods Administration) Special Access Scheme.
“This import license is a key milestone towards generating revenue through ABcann’s network of physicians, pharmacists and patients, and advancing the use of medical cannabis,” commented Barry Fishman, Chief Executive Officer of ABcann. “We view Australia as an important emerging market for medical cannabis and I look forward to meeting with our strategic partners and stakeholders in Australia later this month to further discuss opportunities there.”
Attainment of this license is one of several important steps we have taken over the last six months to cement key relationships with strategic partners in industry and government. ABcann Australia is committed to providing Australian patients with high quality medicinal cannabis products.
Henry Pinskier, MD, Chairman of ABcann Australia.
ABcann holds production and sales licenses from Health Canada. Its flagship facility in Napanee, Ontario contains proprietary plant-growing technology, centred on its specially designed, environmentally-controlled growing chambers. This approach results in the production of pharmaceutical-grade cannabis products.
The Company is expanding its cultivation capacity and pursuing partnerships and product development opportunities domestically, as well as in select international markets, such as Germany, Australia and Israel.