THC Global Expands Cannabis Cultivation & Granted Export Licence
May 15th, 2019
THC Global Group Limited (ASX: THC) (THC Global) has released an update on the Company’s domestic cannabis operations including being granted an export licence, increasing cultivation capacity in Northern NSW, and progress in cannabis product development.
Ken Charteris, Chief Executive Officer of THC Global commented: “Securing this licence is a key milestone in developing a future export pathway of THC Global’s Australian cannabis, and places THC Global in an increasingly stronger position to take advantage of its industry leading manufacturing capability and its global reach. We are pleased to be able to secure additional land for our cannabis cultivation activities on EVE’s USDA certified organic land in Northern NSW. We will formally commit to the lease and settle terms upon confirmation that THC Global will be able to receive a medicinal cannabis cultivation licence over this extension
“Additionally, our success in using our bio-pharmaceutical manufacturing facility for other complex botanical extractions, including EVE’s tea-tree product, confirms that we may be able to explore the development of novel cannabis-blended formulations in the near future.”
Export Licence Granted
THC Global has been granted a Medicinal Cannabis Export Licence from the Office of Drug Control, which is a key milestone in establishing the Company’s future export revenue pathway.
Northern NSW Cultivation Capacity Increased
THC Global has agreed with EVE Investments Limited (ASX:EVE) (EVE) to secure additional land on the property leased by THC Global for the cultivation site. EVE to provide up to 150,000m2 in total land to THC Global subject to confirmation of medicinal cannabis cultivation licencing for the expanded site.
TGA In-Principle Advice
The Therapeutic Goods Administration have provided THC Global in-principle advice that subject to relevant licencing and approval of procedures, both cannabis and non-cannabis products could be produced from THC Global’s bio-pharmaceutical manufacturing facility. This opens up the possibility for THC Global to explore novel cannabis-blended products for sale into global markets. Successful pilot-scale extraction of EVE’s tea-tree product has been conducted following this advice as a potential first step towards developing these future products.
Cannabis Honey Partnership
EVE and THC Global confirm their commitment towards cannabis off-take agreements allowing THC Global’s cannabis to be used by EVE’s Meluka Honey division which intends to develop cannabis honey products which may then also be distributed by THC Global taking advantage of its expanding global market reach including in Canada, New Zealand, and across Asia.
For further information, please contact:
MMR Corporate Services Pty Ltd
Level 2, 131 Macquarie Street
Sydney, NSW 2000 Australia
P: +61 2 9251 7177 M: +61 449 607 636
Follow Us on Social Media
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.