- Cann Group (CAN) receives the necessary permit by the Office of Drug Control (ODC) to allow commercial cultivation activities of medicinal cannabis to commence in its new state-of-the-art production facility near Mildura, Victoria.
- The ODC permit has been issued under the recently revised “single licence” regulatory framework which transitions Cann to a perpetual licence at all three of its production and research facilities, allowing Cann to cultivate and produce medicinal cannabis
- Cann is currently preparing to transfer its medicinal cannabis plants from the company’s Southern facility to Mildura to establish starting genetics, with the first commercial crop expected to be harvested by June 2022
- While final fit-out and commissioning activity will continue in some areas of the facility, the site has been handed over by the principal builder, Qanstruct
- CAN shares are up 7.61 per cent, trading at 24.8 cents
Cann Group (CAN) has been granted the necessary permit by the Office of Drug Control (ODC) to allow commercial cultivation activities of medicinal cannabis to commence in its new state-of-the-art production facility near Mildura, Victoria.
The ODC permit has been issued under the recently revised “single licence” regulatory framework which transitions Cann to a perpetual licence at all three of its production and research facilities.
The permit allows Cann to cultivate and produce medicinal cannabis and conduct research activities relating to the drug.
A separate permit covering the manufacture of medicinal cannabis products at the Mildura facility is expected to be issued in the near future.
Cann is currently preparing to transfer its medicinal cannabis plants from the company’s Southern facility to Mildura to establish starting genetics, with the first commercial crop expected to be harvested by June 2022 and will feed into Cann’s cannabis extraction activities at the Mildura site utilising its GMP designed manufacture suite and equipment.
“[The completion of works] along with the granting of the ODC permits, it represents a tremendous achievement on the part of our project development and regulatory teams,” said Cann CEO Mr Peter Crock.
“Our investment in new technology and scale will generate important benefits, including cost efficiencies that will help make Cann globally competitive.
“As we ramp up commercial production, we will expand our market development activities with the aim of quickly growing our customer and revenue base, capitalising on the scale, cost and quality benefits that Mildura provides.”
While final fit-out and commissioning activity will continue in some areas of the facility, the site has been handed over by the principal builder, Qanstruct and an occupancy certificate have been issued.
CAN shares are up 7.61 per cent, trading at 24.8 cents at 1:50 pm AEDT.