- THC Global has been granted a Medicinal Cannabis Export Licence by the Australian Office of Drug Control.
- An agreement with EVE Investment Ltd allows THC Global to expand Northern NSW Growing capacity by leasing land up to 150,000 metres squared on the same property.
- THC Global’s licence application for existing Northern NSW cultivation site progressing.
THC Global said securing this licence is a key milestone in developing a future export pathway of Australian cannabis, and places the company in an increasingly strong position to take advantage of its industry leading manufacturing capability and its global reach.
THC Global Group Ltd announced today it been granted a Medicinal Cannabis Export Licence by the Australian Office of Drug Control (ODC). The licence is required to be able to export medicinal cannabis from Australia.
THC Global has also confirmed its binding intention with EVE Investments Limited to lease additional USDA certified organic land to bring the total leased land for the Northern NSW cannabis cultivation site up to a potential 150,000 metres squared.
THC Global is currently leasing 60,000 metres squared of organic farmland from EVE for growing medicinal cannabis. This land is the subject of a medicinal cannabis cultivation licence lodged by THC Global last year, which has now progressed to “assessment phase” by the ODC and is expected to be received this year.
Receiving this licence will allow for the first part of the extended project to begin, which is expected to deliver biomass for production at THC Global’s bio- pharmaceutical manufacturing facility as well as for supply to EVE under an off-take agreement for Meluka Health’s proposed cannabis honey product.
THC Global also has a cannabis off-take agreement with EVE whereby EVE will be able to purchase cannabis grown at the Northern NSW site for producing cannabis honey products under their Meluka Health brand.
CEO Ken Charteris said THC Global is please to be able to secure addition land for cannabis cultivation in Northern NSW.
“We will formally commit to the lease and settle terms upon confirmation that THC Global will be able to receive a medicinal cannabis cultivation licence over this extension,” he said.
Investment Director of EVE Ben Rohr said: “The ability to now explore new product development opportunities enabled by our partnership, taking advantage of THC Global’s significant botanicals extraction capabilities is a major asset to both parties.”