THC Global Granted Most Significant Cannabis Manufacture Licence in Australia
Ryan Allway
July 9th, 2019
News
Highlights:
- THC Global licenced to operate the largest bio-pharma extraction facility in the Southern Hemisphere
- Positioned to be one of the most competitive cannabis producers in the global export market
- Only company capable in the region of GMP API production at this scale
- Capability to produce GMP API isolates as well as full or broad spectrum extracts and formulated medicines
- Clinical trials and study trials being considered in Australia and Asia
- Near term significant revenue potential as the only company capable of medicinal cannabis production at this scale
- Scalability allows THC Global to be a low cost producer whilst retaining world-class quality standards
THC Global Group Limited (ASX: THC) (THC Global) has announced that it has received a Manufacture Licence for cannabis at its Southport Manufacturing Facility, the largest bio-pharma extraction facility in the Southern Hemisphere.
Chief Executive Officer, Ken Charteris commented:
“The Manufacture Licence we have now received is the most significant Manufacture Licence granted in Australia to date, as THC Global has the largest bio-pharma extraction facility in the Southern Hemisphere.
“We are ready to commence GMP API production of medicinal cannabis at globally significant volumes and at very competitive prices. We expect to be supplying Australian patients with Australian produced medicinal cannabis by early 2020, as well as responding to the rapidly expanding global demand for pharma-grade GMP API isolates and formulated medicines”.
THC Global has estimated that the initial annual production from the Soutthport Manufacturing Facility will be over 12,000kg of Good Manufacturing Practices (GMP) compliant Active Pharmaceutical Ingredient (API) isolates, or equivalent quantities of full and broad spectrum extracts. These products are in extremely high demand globally with a lack of suppliers capable of meeting the quality standards required to be GMP API product. This market is expected to continue to grow exponentially as global regulatory and legislative changes continue to be made that both expand cannabis usage and increase quality standards expectations.
THC Global has also advised that it intends to be able to produce proprietary finished medicines from these isolates and extracts, such as tinctures, oils, and capsules. The Company is also looking at further product development activities to create the “next generation of medicinal cannabis”.
THC Global is now well positioned to be both a leader in the Asia Pacific cannabis sector, and one of the most competitive cannabis producers in the global export market. In addition to the Southport Manufacturing Facility, the Company holds another licenced Manufacturing Facility in South East Queensland, which also houses the Company’s proprietary cannabis strain development lab and cultivation facility. The Company has secured additional property in Northern NSW that it will develop into a large-scale organic cannabis cultivation facility of up to 150,000m2.
For images of the facility:- https://thc.global/
For Further Media Enquiries and to interview the CEO, please contact:
Sonny Didugu
p. +61 2 9251 7177 | m. +61 404 915 131
e. sonnyd@mmrcorporate.com
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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