9 August 2017
Australian Manufacturing Licence Granted
Significant milestone in Australian Operations
- AusCann has been granted an Australian medicinal cannabis manufacturing licence
by the Office of Drug Control.
- The Licence enables the manufacture and supply of cannabinoid medicines,
completing the supply chain for the Company.
- AusCann is now strongly positioned to be a leading supplier of Australian cannabinoid
medicines for Australian patients, and potential export in the future.
AusCann Group Holdings Ltd (ASX:AC8, “AusCann” or “the Company”) is pleased to
announce it has been granted an Australian manufacturing licence authorising the
manufacture and supply of medicinal cannabis under the Narcotic Drugs Act 1967
AusCann is now one of a few Australian based medicinal cannabis companies that can
cultivate, manufacture and supply Australian produced cannabinoid medicines to patients.
The Licence follows the Australian cultivation licences that have been granted for the
Company’s site in Western Australia (announced 5 May 2017), and in Tasmania through its
strategic partnership with Tasmanian Alkaloids (announced 11 July 2017). The Company
and its strategic partner, Tasmanian Alkaloids, are awaiting the outcome of a further
manufacturing licence application for the proposed operations in Tasmania.
In combination with the Company’s existing cultivation licences, the recently granted
manufacturing licence strongly positions AusCann with one of the first complete and fully
Australian supply chains to provide medicinal cannabis products to patients.
AusCann was established to provide high quality, cost effective cannabinoid medicines for Australian patients. Securing both a cultivation and a manufacturing licence will enable us to achieve this aim and demonstrates our leadership position in the industry.
Elaine Darby, Managing Director, AusCann
In preparation for the supply of Australian produced medicines, AusCann has been actively engaged with the medical community through its educational and medical outreach program. AusCann has made excellent progress raising awareness and support amongst the medical community and is well positioned to become the supplier of choice for Australian patients.
ABOUT AUSCANN GROUP
AusCann is an Australian based company that was incorporated in September 2014 with the aim of producing and providing high quality, economical and clinically validated cannabinoid medicines to patients. It is bringing together leading expertise and operations across all aspects of the medical cannabis value chain, beginning with cultivation and production, through to manufacture and distribution of products and has built a strong team of experts and partners with international connections. Partners includes TSX listed Canopy Growth Corporation, the largest producer of medicinal cannabis in North America, DayaCann, the only licensed medicinal cannabis grower in Chile and Tasmanian Alkaloids, producer of ~40% of the world’s opiates.
AusCann is listed on the Australian Securities Exchange under the ticker “AC8”.
Before this cannabis stock news is here, it’s published to subscribers on 420 Investor.