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THC Global Granted "Most Significant" Cannabis Manufacture Licence in Australia

Posted by Justin Rosenberg on 19-Jul-2019 00:09:23
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We're pleased to advise that on 9 July THC Global Group Limited (ASX: THC) (THC Global) 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. THC has increased from 44c before the announcement to 55c (25% increase). Gleneagle was the Joint Lead Manager of the IPO at 20c 2 years ago. The stock hit $1 within 7 months of the IPO but fell in line with the cannabis correction in early 2018.

Regarding the licence, 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”.

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 has estimated that the initial annual production from the Southport 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 also secured property in Northern NSW that it will develop into a large-scale organic cannabis cultivation facility of up to 150,000m2. Globally, the Company is also active in Canada, New Zealand, and Asia.
View Full ASX Release from THC Global

 

MEDIA COVERAGE

 

Channel 7 granted exclusive access into the Southport Manufacturing Facility, which is now licenced for Medicinal Cannabis production.
Watch Channel 7 Exclusive Coverage of the Southport Facility
Ken Charteris, CEO of THC Global 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”.
The Green Fund: Cannabis Kingmaker THC Global Granted Game-Changing Manufacture License
Small Caps: THC Global obtains licence for Australia’s largest medicinal cannabis facility
Business News Australia: THC Global receives licence for Southern Hemisphere's largest cannabis bio-extraction facility
Ken Charteris, THC Global CEO interviewed by Proactive Investors following the grant of a Manufacture Licence for the Southport Facility
Watch Proactive Investors Interview
Morningstar: Australian Medicinal Cannabis Producer THC Global Obtains Manufacturing License
Money Morning: THC’s Share Price Up 10% after Gaining Licence
Northern Star: Cannabis company gets green light for more manufacturing
CannabisFN: THC Global Granted Most Significant Cannabis Manufacture Licence in Australia

 

About THC Global Group Limited (ASX: THC) thc.global
THC Global operates under a ‘Farm to Pharma’ pharmaceutical model, now holding all three key cannabis licences being a Cannabis Research Licence, a Medicinal Cannabis Licence (Cultivation), and two Manufacture Licences through its domestic medicinal cannabis subsidiaries THC Pharma and Canndeo. THC Global has secured a significant cannabis growing capacity over multiple cultivation projects. and owns a licenced GMP ready high-volume bio-pharma extraction facility with attached testing and product development laboratory.
 
THC Global is in prime position to commence medicinal cannabis production to service both domestic patients and the global export market. THC Global is active globally with operations in Australia, New Zealand, and Canada and partnerships across Europe, Asia, and the Middle East. In addition to its core Australian medicinal cannabis assets, THC Global has a significant Canadian presence – both in cannabis and in hydroponics equipment. THC Global’s Canadian cannabis operation, Vertical Canna, holds property in Nova Scotia, Canada being developed into a large scale cannabis production site. THCGlobal’s hydroponics equipment division, Crystal Mountain, is a revenue generating manufacturer, wholesaler, and retailer of hydroponics equipment and supplies for cannabis cultivation. 

Please  contact us  for further queries or subscribe (on the right of this page) to receive  further updates.
 
Justin Rosenberg
Corporate Finance - Executive Director
Gleneagle Securities (Aust) Pty Limited
Level 27, 25 Bligh Street, Sydney NSW 2000
Ph: +612 8277 6683
Email: justin.rosenberg@gleneagle.com.au
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Topics: microcap, Announcement