GREEN LIGHT: Bundy cannabis firm clears final hurdle
THC Global Group Limited has been given the green light for manufacturing.
Announced today, THC Global has been granted a Manufacture Licence for the production of extracts and tinctures of cannabis and cannabis resin from the Australian Office of Drug Control.
THC Global and its wholly owned subsidiaries now hold all three cannabis production licences being a Cannabis Research Licence, a Medicinal Cannabis Licence (Cultivation), and a Manufacture Licence.
The company is already conducting medicinal cannabis cultivation activities at its Strain R&D and Manufacturing Facility in Bundaberg, operated by its wholly owned subsidiary, Canndeo Limited.
Chairman, Steven Xu said: "We are very pleased to be granted a Manufacture Licence, which now completes our 'Farm to Pharma' model".
"This licence is a significant milestone for the company, with the next targets being the development of a new generation of proprietary medicinal cannabis products and securing our revenue outlook through off-take agreements and furthering our existing global partnerships," he said.
More to come.