- Little Green Pharma (LGP) has been granted an expansion to its current Medicinal Cannabis Licence by the Office of Drug Control
- The company has also been granted a Manufacturing Licence to produce various cannabis-derived products at its new facility in WA
- These approvals give Little Green Pharma more flexibility to fulfil future orders
- Last month, the company secured 2 purchase agreements to sell its products in Germany and the U.K.
- Little Green Pharma’s shares remain flat and are trading for 30 cents each
Little Green Pharma (LGP) has been granted an expansion to its current Medicinal Cannabis Licence by the Office of Drug Control (ODC).
The ODC has also granted a Manufacturing Licence so Little Green Pharma can manufacture cannabis dry flower, extracts, tinctures and resins at its new facility in WA.
“These licences mark an important step in expanding LGP’s cultivation and manufacturing capacity and achieving internal vertical integration and cost reduction,” Managing Director Fleta Solomon said.
Subject to the granting of an expanded Medicinal Cannabis permit, the company expects first planting at its cultivation facility to take place in the second quarter of 2020.
“The expanded Medicinal Cannabis Licence and new Manufacturing Licence will give us greater production flexibility and the capacity to fulfil recently signed purchase agreements with distributors in Germany and the UK,” Fleta added.
In February 2020, Little Green Pharma secured two long-term purchase agreements with UK-based Astral Health, and Germany-based Demecan.
“The agreement positions LGP as one of very few companies with GMP medicinal cannabis products to supply into the UK and Europe and follows our first purchase order from Germany,” Fleta said at the time of the deal.
These deals include LGP supplying its medicinal cannabis products from this year through to 2025.
Little Green Pharma’s shares remain flat and are trading for 30 cents each at 3:59 pm AEDT.