- Jayex Healthcare’s (JHL) wholly-owned subsidiary, Whakaora Hou, has successfully obtained a cultivation licence for medical marijuana
- The commercial cultivation licence was awarded by the New Zealand Ministry of Health’s Medicinal Cannabis Agency
- Whakaora Hou can now conduct research activities, for commercial-scale cultivation, production, and distribution of medicinal cannabis products
- The company’s medical cannabis research facility in New Zealand was recently inspected by the Medicinal Cannabis Agency
- Jayex Healthcare is in the grey and trading at 4.7 cents per share
Jayex Healthcare’s (JHL) wholly-owned subsidiary, Whakaora Hou, has successfully obtained a cultivation licence for medical marijuana.
For at least two years now, Jayex has been working to establish a presence in New Zealand’s emerging medicinal cannabis market. The company primarily sought to do so in order to commercialise its P2U script processing and BluePoint remote dispensing technologies in the sector.
Jayex created Whakaora Hou in order to guide and execute this strategy, starting with the establishment of a medical cannabis research facility. The construction and fit-out of such a facility at Papamoa, on New Zealand’s northern island, was approved by the Tauranga City Council in May 2019.
The company’s research facility was inspected by the New Zealand Medicinal Cannabis Agency on March 30, 2021. Completing this inspection was integral to the issuance of a commercial cultivation licence.
The New Zealand Ministry of Health’s Medicinal Cannabis Agency has now awarded the cultivation licence to Whakaora Hou, after being satisfied with the facility inspection.
The licence will allow the company to conduct medical cannabis research activities for the commercial-scale cultivation of cannabis, the production and manufacturing of medical cannabis products and the prescribing, sale and distribution of those products throughout New Zealand.
In an announcement to the market, Jayex Healthcare’s Board of Directors thanked the team in Whakaora Hou for their efforts in preparing the facility for operation and meeting the strict guidelines required under New Zealand registration.
The company’s Executive Chairman, Michael Boyd, also commented on the latest development.
“With the meticulous preparations to obtain the licence now complete, we look forward to executing on the business plan for WHL and will keep shareholders updated as we progress,” he said.
Jayex Healthcare is in the grey, trading at 4.7 cents per share at 12:47 pm AEST.