http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 20 Jun 2018 09:42:37 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - AusCann Group harvests second crop in Chile ]]> http://www.proactiveinvestors.com.au/companies/news/198404/auscann-group-harvests-second-crop-in-chile-198404.html AusCann Group Holdings Ltd (ASX:AC8) has completed its second harvest with DayaCann joint venture partner Fundación Daya in Chile.

AusCann’s managing director Elaine Darby: “This second harvest in Chile represents an important step in our Chilean operation.

“It is encouraging to see that our medical cannabis can be accessed by patients through the new SAS scheme in Chile whilst clinical studies are progressing.”

READ: AusCann Group gets regulatory nod to supply medicinal cannabis products in Chile

Fundación Daya has worked with the Chilean National Institute of Public Health to establish a special access scheme (SAS) which enables patients in Chile access to local medicinal cannabis product.

The medical cannabis product in Chile’s SAS is being locally manufactured at Knop Laboratories from cannabis supplied by DayaCann.

Harvest yielded over 50% more than first crop

The second crop yielded 620 kilograms of dried cannabis product, an increase of over 50% on the 400 kilograms yielded from the first crop.

This equates to a yield of about 1.2 tonnes per hectare.

First-mover following legislative change

AusCann sees the South American market as internationally significant following recent legislative changes in Argentina, which has joined Chile, Colombia and Uruguay in legalising medical cannabis for therapeutic purposes.

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Thu, 07 Jun 2018 10:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/198404/auscann-group-harvests-second-crop-in-chile-198404.html
<![CDATA[News - AusCann Group Holdings' receipt of cannabis oils from Canopy Growth is imminent ]]> http://www.proactiveinvestors.com.au/companies/news/195612/auscann-group-holdings-receipt-of-cannabis-oils-from-canopy-growth-is-imminent-195612.html Auscann Group Holdings Limited (ASX:AC8), a leading medical cannabis company, has received an import permit under its existing import licence.

Following this development, the company will soon receive finished cannabis oils from its major shareholder, Canopy Growth Corporation.

AusCann and Canopy Growth are pursuing opportunities in several key areas in Australia including the importation, distribution and local production of medical cannabis products.

AusCann managing director Elaine Darby said: “Our ongoing relationship with Canopy Growth offers major benefits for AusCann and we are very pleased to be working with Canopy Growth as the Australian market expands.

“The combination of this arrangement and our strong partnership with Tasmanian Alkaloids, positions us to be the leading supplier of affordable, effective and clinically-validated cannabinoid medicines to the Australian market and select international markets.”

AusCann's vertically integrated business model

Initial import of pain relief products

AusCann will initially import the Canopy Growth-supplied AusCann branded products for chronic and neuropathic pain control known as AC 5:5, AC 0:9.5 and AC 15:0.

Each name represents the ratio of tetrahydrocannabinol (THC) to cannabidiol (CBD) in each product.

Potential distribution of Spectrum Cannabis

Canopy Growth and AusCann are working together on developing an arrangement whereby the former will also supply AusCann with its Spectrum Cannabis branded products.

This would see AusCann distributing the product into the Australian market alongside existing AusCann products.

Spectrum Cannabis is Canopy Growth’s international medical brand, operating under a simple colour-coded system to classify its medical cannabis products.

Cashing in on distribution network

The intention is for both parties to undertake the distribution of AusCann and Spectrum products through existing and future distribution networks.

This includes AusCann’s extensive distribution network, recently broadened through the establishment of a relationship with Australian Pharmaceutical Industries (ASX:API).

READ: Auscann Group Holdings to access large Australian pharmaceutical network

Australian Pharmaceutical Industries has a network of 466 high profile brand pharmacies with representation in every state and territory in Australia.

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Tue, 24 Apr 2018 10:45:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195612/auscann-group-holdings-receipt-of-cannabis-oils-from-canopy-growth-is-imminent-195612.html
<![CDATA[News - AusCann Group gets regulatory nod to supply medicinal cannabis products in Chile ]]> http://www.proactiveinvestors.com.au/companies/news/193920/auscann-group-gets-regulatory-nod-to-supply-medicinal-cannabis-products-in-chile-193920.html AusCann Group Holdings Ltd (ASX:AC8) has achieved a major breakthrough following the establishment of a special access scheme which enables access for Chilean patients to medicinal cannabis products.

AusCann’s joint venture partner, Fundación Daya has worked with the Chilean National Institute of Public Health to establish the special access scheme.

READ: AusCann Group's vertically integrated model provides point of difference in medicinal cannabis industry

A similar access scheme is used in Australia, which enables doctors to prescribe cannabinoid medicines prior to product registration.

Second cannabis crop is getting ready for harvest

AusCann and Fundación Daya’s joint venture, DayaCann, is the only company in Chile to hold a medical cannabis production licence.

DayaCann has a proven growing record with the first crop yielding over 400 kilograms of dried cannabis in 2017.

The second crop has been planted and is scheduled for harvest this year.

Aiming to supply medicinal cannabis products for the treatment of pain

AusCann managing director Elaine Darby said: “We are delighted with the establishment of this special access scheme.

“DayaCann’s second crop is almost ready for harvest, and this special access scheme will accelerate the joint venture’s goal of producing and supplying final dose form medicines for the treatment of pain in the Latin American market”

READ: AusCann Group to collaborate in enhancing medicinal cannabis production

The new special access scheme (SAS) will be applied to a medical cannabis product being locally produced at Knop Laboratories from cannabis supplied by DayaCann.

The SAS allows patients to access the products whilst clinical trials for product registration are being completed.

The patients can apply to their doctors for a prescription, which will be approved by the public health department on a case-by-case basis.

Phase II pain management trial progressing in cancer patients

Phase I trials have been completed, and a phase II trial is being conducted for pain management in cancer patients at a Chilean public health centre.

The cannabinoid medicines being supplied under the SAS will be mainly accessed by patients of 15 municipalities who participated in the funding of earlier plantings by Fundación Daya.

As a result of this participation, a specified number of residents will receive free access to a year’s treatment.

Patients outside of these municipalities will be able to buy the products in pharmacies with their official permit approved by the Chilean National Institute of Public Health.

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Wed, 28 Mar 2018 12:46:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193920/auscann-group-gets-regulatory-nod-to-supply-medicinal-cannabis-products-in-chile-193920.html
<![CDATA[News - AusCann Group's vertically integrated model provides point of difference in medicinal cannabis industry ]]> http://www.proactiveinvestors.com.au/companies/news/193670/auscann-group-s-vertically-integrated-model-provides-point-of-difference-in-medicinal-cannabis-industry-193670.html AusCann Group Holding Ltd (ASX:AC8) has adopted a strategy that should see it ideally positioned to take advantage of burgeoning global demand for medicinal cannabis.

While there has been an influx of ASX-listed companies targeting this market, there are few that are developing a vertically integrated model, as is the case with AusCann.

Supply chain control offers definite operational advantages, and traditionally, brings financial benefits to any research, manufacturing, production and distribution business.

By developing a fully integrated pharmaceutical cannabinoid company, taking charge of all aspects from cultivation through to manufacturing and distribution, Auscann has distinct advantages over many of its peers.

Disseminating the players from the stayers

Of course, the sector ran hot following the Australian Federal Government decision to allow manufactured cannabinoid medicines to be exported from Australia.

READ: Auscann Group’s shares surge following green light for medicinal cannabis export

AusCann was no exception with its shares more than doubling as the news broke.

While it was a ‘rising tide lifts all boats' situation early in the piece, investors have now identified the companies that are best positioned to take advantage of the regulatory change.

Much of the groundwork already achieved

AusCann was established with the aim of providing Australia and select international markets with high-quality, economical and clinically-validated cannabis-derived medicines.

The company has made good progress on a number of those fronts in a relatively short period of time.

Auscann is developing a vertically integrated model.

It has been a busy 12 months, as Auscann forged relationships with overseas partners and negotiated distribution agreements with major pharmaceutical groups in Australia.

Darby highlights supply chain progress

Auscann managing director Elaine Darby said: “We are very pleased with the operational momentum achieved in the first half and we expect this to continue for the remainder of the year.

“The completion of our supply chain has dovetailed nicely into progress we have made early in 2018.

“We have made a strong start to the second half of the financial year with the signing of a distribution agreement with Australian Pharmaceutical Industries (ASX:API).

This will facilitate the Australia-wide distribution of our products and we expect to update the market on further developments in relation to the supply of cannabinoid medicines.”

API agreement strengthens supply chain management

in January, AusCann entered into a heads of agreement with ASX-listed Australian Pharmaceutical Industries Limited.

READ:AusCann Group Holdings to access large Australian pharmaceutical network

Under the terms of the agreement, the two parties have formalised a wholesale partnership for the distribution of AusCann’s cannabinoid medicines throughout Australia.

The agreement will allow AusCann to distribute imported cannabinoid medicines from its Canadian partner, Canopy Growth Corporation, ahead of establishing its own local supply of medications.

API provides access to a large market

Not only does API offer brand power, but it also provides access to a large network of retail outlets with a broad geographic reach.

The company has stores in every state and territory of Australia, and its brands include Priceline Pharmacy and Soul Pattinson.

Such is the company’s reach that it only recently opened a new distribution centre in Western Australia, and in fiscal 2017 generated Australia wide revenues of about $3 billion.

The other key takeaway from the agreement is that it represents an endorsement of AusCann as a reliable supplier, an accolade that many of its peers are yet to earn.

Darby said: “Establishing a relationship with a leading wholesale distributor in the industry provides AusCann with an excellent partner for the distribution of our medications.

“The agreement is further evidence of the growing market and validity of what we’re doing in Australia.”

Tasmanian Alkaloids provides competitive advantage

AusCann is working closely with Tasmanian Alkaloids (TasAlk), in establishing the group’s growing and manufacturing operations.

The AusCann/TasAlk alliance is the only group in the industry with a Therapeutic Goods Administration (TGA) manufacturing licence.

Operating since 1976, TasAlk produces about 40% of the world’s opiate crop in Tasmania, a region that is globally revered for its 'clean green' reputation.

While it will still be recognised as a premium source of products such as meat, seafood and vegetables, Australia’s smallest state may emerge as a large producer of medicinal cannabis.

Importantly, TasAlk has established relationships with many of the world’s leading pharmaceutical groups.

Management meets regulatory demands

Acquisition of the necessary licences to complete its entire supply chain has been an important investment.

From an operational perspective, the company has also been working closely with government, lawyers, consultants and advisors to progress towards commercialisation.

AusCann was granted its manufacturing licence in August 2017, completing its supply chain.

The group is now one of the few Australian-based companies that can cultivate, manufacture, and supply Australian-produced cannabinoid medicines to patients.

Second cultivation licence secured

AusCann secured its second cultivation licence for its 50:50 joint venture, DayaCann with Fundacion Daya in Chile.

DayaCann is the only licensed producer in Chile, a country that has a supportive regulatory framework for the production of cannabinoid medicines.

The group’s production capabilities will be enhanced following the establishment of on-site manufacturing infrastructure in 2018.

DayaCann has a proven growing record with the first crop yielding over 400 kilograms of dried cannabis.

The second crop has been planted and is scheduled for harvest by mid-2018.

DayaCann intends to develop final dose form medicines for the treatment of pain in the Latin American market.

As at December 31, 2017, the net realisable carrying value of DayaCann’s assets was around $839,000.

Financially robust

AusCann invested $4.8 million in the first half on research and development, operating costs, joint venture expenses, consulting and legal fees.

The company ended the half with $12.3 million in cash and is well-funded to maintain its operational momentum.

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Fri, 23 Mar 2018 14:26:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193670/auscann-group-s-vertically-integrated-model-provides-point-of-difference-in-medicinal-cannabis-industry-193670.html
<![CDATA[News - Auscann Group Holdings to access large Australian pharmaceutical network ]]> http://www.proactiveinvestors.com.au/companies/news/190334/auscann-group-holdings-to-access-large-australian-pharmaceutical-network-190334.html AusCann Group Holdings Ltd (ASX:AC8) has signed a heads of agreement with Australian Pharmaceutical Industries Limited (ASX:API).

The agreement has the potential to boost sales of its cannabinoid medicines.

The two entities have a wholesale agreement for the distribution of AusCann’s cannabinoid medicines throughout Australia.

In terms of the agreement, AusCann will distribute imported cannabinoid medicines from its Canadian partner, Canopy Growth Corporation, ahead of establishing its own local supply of medications.

READ: AusCann Group to collaborate in enhancing medicinal cannabis production Provides AusCann with access to large pharmaceutical network

The collaboration between AusCann and API provides the former with access to Australia’s leading wholesale distributor of pharmaceutical products.

Elaine Darby, managing director, AusCann said: “Establishing a relationship with a leading wholesale distributor in the industry provides AusCann with an excellent partner for the distribution of our medications.

“It is further evidence of the growing market and validity of what we’re doing in Australia."

AusCann is also working closely with its strategic partner Tasmanian Alkaloids in establishing its cultivation and manufacturing operations in Tasmania.

The first crop is expected to be planted this year which will boost the supply side of AusCann’s business.

Conducting educational programs to support demand

The company is also looking to drive demand by conducting educational programs and support for Australian doctors.

The program also ensures practitioners have access to the necessary information to confidently prescribe to patients and this is receiving strong support from doctors, including leading pain specialists. 

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Mon, 22 Jan 2018 09:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190334/auscann-group-holdings-to-access-large-australian-pharmaceutical-network-190334.html
<![CDATA[News - AusCann Group to collaborate in enhancing medicinal cannabis production ]]> http://www.proactiveinvestors.com.au/companies/news/190143/auscann-group-to-collaborate-in-enhancing-medicinal-cannabis-production-190143.html AusCann Group Holdings Ltd’s (ASX:AC8) strategic partner Canopy Growth Corporation has entered into a research collaboration to develop research and technical capabilities in the production of medical cannabis.

The collaboration with the Victorian State Government will see Canopy work to develop new and novel approaches to cannabis cultivation and manufacturing.

READ: Auscann Group’s shares surge following green light for medicinal cannabis export

AusCann reached a new high of $1.86 on 9 January 2018 and today were up to $1.82, an increase of 128% since the start of 2018.

Mark Zekulin, president of Canopy Growth, said: “We look forward to our work with the Victorian Government in the coming months and years.

“Along with our partnership with AusCann, we are excited to be working in Australia as it establishes itself as a leading cannabis jurisdiction.

“This work in Australia will be of benefit to Australian cannabis patients and our partner AusCann, given our proven ability to transport live genetics right across the world and our closer proximity.”

READ: AusCann Group Holdings advances medical cannabis supply chain strategy

The collaboration is aimed at creating a faster pathway towards commercial production of cannabinoid medicines for Australian patients.

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Wed, 17 Jan 2018 14:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190143/auscann-group-to-collaborate-in-enhancing-medicinal-cannabis-production-190143.html
<![CDATA[News - Auscann Group’s shares surge following green light for medicinal cannabis export ]]> http://www.proactiveinvestors.com.au/companies/news/189492/auscann-groups-shares-surge-following-green-light-for-medicinal-cannabis-export-189492.html Auscann Group Holdings Ltd’s (ASX:AC8) shares are trading circa 37% higher intra-day at $1.13 following the federal government’s decision to allow manufactured cannabinoid medicines to be exported from Australia.

Elaine Darby, managing director, said: “This is a win for the Australian cannabis industry and Australian patients as it allows us to produce cost effective products at scale.

“We are perfectly positioned to create high value export products from AusCann and have the international relationships in place including Canopy, the largest producer in North America and also our largest shareholder in AusCann.

“AusCann remains committed to Australian patients as a priority and has developed the medical outreach program that is already educating doctors and health practitioners in Australia on the use of cannabinoid medicines.”

Uniquely positioned with the full set of cannabinoid medicines licences

The new decision puts AusCann in a valuable position as the only company with the full set of the necessary licences to grow and manufacture cannabinoid medicines in Australia.

AusCann has the only established TGA (Therapeutic Goods Administration) licensed manufacturing facility through their partnership with Tasmanian Alkaloids.

READ: AusCann Group Holdings advances medical cannabis supply chain strategy

The company’s Chilean joint venture DayaCann is planting its second medicinal cannabis crop in Chile.

This follows the grant of a cultivation licence for the crop in November by Chilean authorities.

Up to 435 plants are being planted at DayaCann’s 30-hectare facility south of Santiago.

The crop is expected to be harvested in the first half of 2018 and will provide a range of cannabis strains to be extracted.

Australia is aiming to become the world's top medicinal cannabis supplier

The federal government has approved the exportation of medicinal cannabis in a bid to strengthen the supply amid growing demand domestically and worldwide.

Importantly, the decision to allow exports is expected to lead to further investment in the Australian industry and provide local companies with an incentive to accelerate their development plans.

Health Minister Greg Hunt said allowing medicinal cannabis product exports will help the developing domestic market to grow.

He hopes Australia can be the world's top supplier of medicinal cannabis.

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Thu, 04 Jan 2018 14:35:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189492/auscann-groups-shares-surge-following-green-light-for-medicinal-cannabis-export-189492.html
<![CDATA[News - AusCann Group Holdings advances medical cannabis supply chain strategy ]]> http://www.proactiveinvestors.com.au/companies/news/188920/auscann-group-holdings-advances-medical-cannabis-supply-chain-strategy-188920.html AusCann Group Holdings Ltd’s (ASX:AC8) Chilean joint venture DayaCann is planting its second medicinal cannabis crop in Chile.

This follows the grant of a cultivation licence for the crop in November by Chilean authorities.

Up to 435 plants are being planted at DayaCann’s 30-hectare facility south of Santiago.

The crop is expected to be harvested in the first half of 2018 and will provide a range of cannabis strains to be extracted.

READ: AusCann Group Holdings secures medical cannabis cultivation licence

Elaine Darby, managing director, said: “The harvest of our first crop in Chile in April this year saw AusCann yield over 400 kilograms of dried cannabis product.

“We have since selected the highest yielding strains from that crop and are now cultivating our second crop using these strains.

“From these strains, it is our intention to develop final dose form medicines for the treatment of chronic and neuropathic pain that will be supplied into the significant Latin American market.”

Strains will be processed into trial formulations

After extraction the cannabis strains will be processed into trial cannabinoid formulations.

The product can then progress to clinical trials and registration with the Chilean National Institute of Public Health.

After registration, Chilean legislation permits the export of medications.

AusCann and the DayaCann joint venture are focused on establishing a fully integrated supply chain in Latin America.

This will see the joint venture manage operations from cultivation through to the development and sale of final dose form medications.

Chile operations complement Australian partnership

The Chilean operations complement the Australian strategic partnership between AusCann and Tasmanian Alkaloids with fully integrated cultivation and manufacturing of final dose form medications.

READ: AusCann Group Holdings shares pop on grant of new medical cannabis licence

The AusCann and Tasmanian Alkaloids partnership is the only group to hold all necessary licences to produce final dose form Australian cannabinoid medications.

AusCann is the only listed company that is integrated across the full spectrum of the Australian medicinal cannabis supply chain.

In the immediate term AusCann will source and supply cannabinoid medicines to Australian patients from its Canadian strategic partner Canopy Growth.

AusCann manufacturing is also well positioned to supply Australian patients and future export potential.

READ: AusCann Group Holdings welcomes medical cannabis legislation

The company is well funded with cash of $13.7 million at the end of the September quarter of 2017 and a market cap of $88 million.

It is on track with licensing to commence Australian cultivation and manufacturing cannabinoid products in 2018.

Milestones for 2018

AusCann's key milestones for 2018:

- Importation of medications from Canopy Growth to meet immediate demand and initial revenue generation;
- Growth in prescriptions by authorised prescribers;
- Establishment of manufacturing capabilities in Chile;
- Commence commercial cultivation activities in Tasmania;
- Commence R&D genetics program for the development of high yielding cannabis strains; and
- First harvest and products manufactured at Tasmanian facility.

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Mon, 18 Dec 2017 14:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188920/auscann-group-holdings-advances-medical-cannabis-supply-chain-strategy-188920.html
<![CDATA[News - AusCann Group Holdings shares pop on grant of new medical cannabis licence ]]> http://www.proactiveinvestors.com.au/companies/news/188402/auscann-group-holdings-shares-pop-on-grant-of-new-medical-cannabis-licence-188402.html AusCann Group Holdings Ltd’s (ASX:AC8) strategic partner, Tasmanian Alkaloids has been granted a manufacturing licence by the Office of Drug Control.

The licence allows for the joint manufacture and supply of medical cannabis products in Australia.

AusCann and Tasmanian Alkaloids are the only Australian integrated operation holding cultivation and manufacturing licences, with a TGA approved manufacturing facility.

This places the partnership well ahead with operations starting in 2018.

Only ASX-listed entity to hold all the required licences

AusCann, through its partnership with Tasmanian Alkaloids, is the only ASX-listed entity to hold all the required licences in Australia to cultivate, harvest, manufacture and distribute final dose form cannabinoid medicines.

This includes a TGA manufacturing licence.

The partnership is positioned to be the predominant supplier of cannabinoid medicines in Australia with future export potential.

AusCann will import its genetics for planting in Tasmania in early 2018.

Company firmly on track

Elaine Darby, managing director, said: “This final required licence from the Office of Drug Control is a significant achievement for the partnership and AusCann.

“It allows us to progress our cultivation and manufacturing operations in the Australian market and puts us firmly on track to become a fully integrated cannabinoid pharmaceutical company.

“Tasmanian Alkaloids are an excellent strategic partner and we have in place facilities and a joint project team with the necessary skills and expertise to produce final dose form cannabinoid medicines.

Potential to export in the future

“The potential Australian medical cannabis market is significant with chronic pain control an initial target for us.

“There is also real potential for Australia to be an exporter of high-quality cost-effective cannabis medicines in the future.”

Follows granting of recent licence in Chile

The granting of the licence follows the granting of its Chilean licence for its cultivation activities with its joint venture partner, Fundacion Daya.

READ: AusCann Group Holdings secures medical cannabis cultivation licence

Furthermore, ahead of establishing its own supply and cannabinoid medications in Australia, AusCann will leverage its partnership with Canopy Growth Corporation.

Through its strategic partnership with Canopy Growth Corporation, AusCann is able to import cannabinoid medicines to supply to Australian patients through its medical liaison network.

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Thu, 07 Dec 2017 10:59:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188402/auscann-group-holdings-shares-pop-on-grant-of-new-medical-cannabis-licence-188402.html
<![CDATA[News - AusCann Group Holdings to reveal next medical cannabis steps in Australia ]]> http://www.proactiveinvestors.com.au/companies/news/188314/auscann-group-holdings-to-reveal-next-medical-cannabis-steps-in-australia-188314.html AusCann Group Holdings Ltd (ASX:AC8) is the only listed company that is integrated across the full spectrum of the Australian medicinal cannabis supply chain.

To provide details of the next steps in its Australian operations, the ASX has granted the company a trading halt to finalise.

READ: AusCann Group Holdings secures medical cannabis cultivation licence

The halt will remain in place until the opening of trade on Friday 8th December 2017, or earlier if an announcement is made to the market.

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Wed, 06 Dec 2017 10:04:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188314/auscann-group-holdings-to-reveal-next-medical-cannabis-steps-in-australia-188314.html
<![CDATA[News - AusCann Group Holdings secures medical cannabis cultivation licence ]]> http://www.proactiveinvestors.com.au/companies/news/187612/auscann-group-holdings-secures-medical-cannabis-cultivation-licence-187612.html AusCann Group Holdings Ltd (ASX:AC8) through its 50:50 joint venture in Chile, DayaCann, has secured its second cultivation licence for its second medical cannabis crop.

This is the only licence granted in Chile to cultivate medical cannabis and allows the joint venture to commence cultivation activities.

The DayaCann joint venture will commence planting crops immediately at its licensed 30-hectare facility south of Santiago, Chile.

The licence follows the successful harvest of 400 plants earlier this year that provided a range of chemotypes to be used in initial trial formulations.

DayaCann is currently the only licensed producer in Chile, giving it a key competitive advantage in a growing market.

Elaine Darby, managing director, commented

“The regulatory landscape and market for cannabinoid medications continues to evolve and grow.

“Chile is one of the regions at the forefront of change and access to cannabis medications for patients in need is advancing rapidly in the region.

“This licence allows us to commence growing our second crop in the region, building on our position in the market and expanding our supply chain as AusCann becomes a fully integrated medical cannabis company that will service both the Australian and Latin American markets.”

Looking ahead to local export markets

Under current regulations, Chile allows the export of products, once registered as medicines.

DayaCann is well positioned to leverage the growing opportunity across Latin America, where medical cannabis is currently legal in a number of countries including Brazil, Argentina, Peru, Columbia, Uruguay, Panama, Puerto Rico and Mexico.

AusCann anticipates the planting of the next crop to commence before year-end, with the harvest to be undertaken during the first half of 2018.

READ: AusCann Group Holdings welcomes medical cannabis legislation ]]>
Wed, 22 Nov 2017 10:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187612/auscann-group-holdings-secures-medical-cannabis-cultivation-licence-187612.html
<![CDATA[News - AusCann Group Holdings to reveal medical cannabis joint venture update ]]> http://www.proactiveinvestors.com.au/companies/news/187539/auscann-group-holdings-to-reveal-medical-cannabis-joint-venture-update-187539.html AusCann Group Holdings Ltd (ASX:AC8) has been granted a trading halt by the ASX this morning, pending details regarding the company's Chilean joint venture.

READ NOW: AusCann Group Holdings welcomes medical cannabis legislation

The halt will remain in place until the opening of trade on Thursday 23rd November 2017, or earlier if an announcement is made to the market.

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Tue, 21 Nov 2017 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187539/auscann-group-holdings-to-reveal-medical-cannabis-joint-venture-update-187539.html
<![CDATA[News - AusCann Group Holdings welcomes medical cannabis legislation ]]> http://www.proactiveinvestors.com.au/companies/news/185925/auscann-group-holdings-welcomes-medical-cannabis-legislation-185925.html AusCann Group Holdings (ASX:AC8) welcomes the passing of the Medicinal Cannabis Legislation Amendment (Securing Patient Access) Bill 2017 in the Senate yesterday.

The bill was introduced to expand upon the ability of terminally ill patients to access cannabinoid medicines.

Currently, certain terminally ill patients can only access cannabinoid medicines that are imported on a patient by patient basis.

This bill will enable these terminally ill patients to access cannabinoid medicines that are produced by AusCann in Australia as well as those medicines being imported by AusCann.

Through its strategic partnership with Canopy Growth Corporation, AusCann is able to import cannabinoid medicines that are already being used to treat patients in Canada.

Elaine Darby, managing director, commented

“We welcome the introduction of any measures that further enhances the ability of terminally ill patients to access medications their doctors believe can assist them.

“We look forward to being able to supply these Australian patients with high quality, cost-effective, clinically validated medications that have been produced in Australia.”

Next steps for the bill

The bill has now progressed and has been introduced to the House of Representatives for debate.

AusCann is closely monitoring the progress of this bill and looks forward to the pending legislative change being implemented.

In the interim, AusCann’s medical liaison managers are actively working with Australian doctors that are able to prescribe AusCann’s cannabinoid medicines under current legislation.

WATCH NOW: AusCann Group Holdings positioned to be a leading supplier of Australian cannabinoid READ NOW: AusCann Group Holdings Ltd granted Australian medicinal cannabis manufacturing licence ]]>
Fri, 20 Oct 2017 16:27:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185925/auscann-group-holdings-welcomes-medical-cannabis-legislation-185925.html
<![CDATA[Media files - Auscann Group Holdings positioned to be a leading supplier of Australian cannabinoid ]]> http://www.proactiveinvestors.com.au/companies/stocktube/7940/auscann-group-holdings-positioned-to-be-a-leading-supplier-of-australian-cannabinoid-7940.html Thu, 17 Aug 2017 08:30:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/7940/auscann-group-holdings-positioned-to-be-a-leading-supplier-of-australian-cannabinoid-7940.html <![CDATA[News - AusCann Group Holdings Ltd granted Australian medicinal cannabis manufacturing licence ]]> http://www.proactiveinvestors.com.au/companies/news/182157/auscann-group-holdings-ltd-granted-australian-medicinal-cannabis-manufacturing-licence-182157.html AusCann Group Holdings Ltd (ASX:AC8) has been granted an Australian medicinal cannabis manufacturing licence by the Office of Drug Control.

The licence enables the manufacture and supply of cannabinoid medicines, completing the supply chain for the company.

AusCann is now strongly positioned to be a leading supplier of Australian cannabinoid medicines for Australian patients, and potential export in the future.

Elaine Darby, managing director, commented:

"AusCann was established to provide high quality, cost effective cannabinoid medicines for Australian patients.

"Securing both a cultivation and a manufacturing licence will enable us to achieve this aim and demonstrates our leadership position in the industry.

"In preparation for the supply of Australian produced medicines, AusCann has been actively engaged with the medical community through its educational and medical outreach program.

"AusCann has made excellent progress raising awareness and support amongst the medical community and is well positioned to become the supplier of choice for Australian patients."

History of licenses

Today's approval follows the Australian cultivation licences that have been granted for the company’s site in Western Australia in May this year, and in Tasmania through its strategic partnership with Tasmanian Alkaloids last month.

AusCann and its strategic partner, Tasmanian Alkaloids, are awaiting the outcome of a further manufacturing licence application for the proposed operations in Tasmania.

Operating since 1976, Tasmanian Alkaloids produces circa 40% of the world’s alkaloid raw material crop in Tasmania.

It boasts a modern manufacturing facility, which is fully compliant with Good Manufacturing Practice standards.

Tasmanian Alkaloids has established relationships with many of the world’s leading pharmaceutical companies.

Mutually beneficially relationship

Studies have shown that the inclusion of medicinal cannabis into existing pain management regimes involving opiates resulted in an improvement in pain management and quality of life outcomes, and less adverse side effects.

Cannabinoids and opioids share several pharmacologic properties and may act synergistically in pain treatment.

As such, both parties look forward to also working together to develop novel therapeutic products for the relief of chronic pain.

Furthermore, while this strategic partnership builds, AusCann is able to leverage its other partnership with Canopy Growth Corporation in the short term.

AusCann is able to import medicines from its partner Canopy Growth Corporation, North America’s largest producer of medicinal cannabis.

Momentum in medical cannabis

The positive momentum in the medical cannabis sector continues to grow with a comprehensive report by the U.S. National Academies of Science Engineering Medicine released earlier this year confirming that there is substantial and conclusive evidence for the use of medicinal cannabis in the treatment of chronic pain symptoms.

The need for chronic pain control in Australia is substantial and represents a market of over 3 million patients.

Share price reaction

AusCann shares have jumped 9.8% to $0.505 in early session trade on heavy volume.

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Wed, 09 Aug 2017 10:22:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182157/auscann-group-holdings-ltd-granted-australian-medicinal-cannabis-manufacturing-licence-182157.html
<![CDATA[News - AusCann Group to outline next medicinal cannabis steps in Australia ]]> http://www.proactiveinvestors.com.au/companies/news/182085/auscann-group-to-outline-next-medicinal-cannabis-steps-in-australia-182085.html AusCann Group Holdings Ltd (ASX:AC8) is preparing to provide an update on its Australian operations, and the ASX has granted the company a trading halt to prepare an announcement.

AusCann recently completed its first harvest in Chile with over 300 kilograms of dried cannabis buds.

The buds were then sent to a certified manufacturing facility for processing into medicinal cannabis formulations.

READ: AusCann Group Holdings Ltd secures two licences

During the June 2017 quarter, the company raised A$12mln with strong support from investors.

The halt will remain in place until the opening of trade on Wednesday 9th August 2017, or earlier if an announcement is made to the market.

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Tue, 08 Aug 2017 13:02:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182085/auscann-group-to-outline-next-medicinal-cannabis-steps-in-australia-182085.html
<![CDATA[News - AusCann Group Holdings Ltd secures two licences ]]> http://www.proactiveinvestors.com.au/companies/news/180640/auscann-group-holdings-ltd-secures-two-licences-180640.html AusCann Group Holdings Ltd’s (ASX:AC8) strategic partner, Tasmanian Alkaloids Pty Ltd has been granted a medicinal cannabis licence and a research and development licence.

The licences mark a significant milestone for the recently formed strategic partnership.

It positions the two companies well to progress their strategy to become a leading supplier of Australian produced high-quality medicinal cannabis to Australian patients.

Elaine Darby, managing director, commented: “This is a major milestone for the strategic partnership and represents significant progress in our joint strategy to become a leading producer and supplier of high quality medicinal cannabis to Australian patients.”


Strategic partnership

AusCann entered into an exclusive strategic partnership in May with Tasmanian Alkaloids, an established manufacturer of alkaloid raw materials, also known as poppies.

Operating since 1976, today Tasmanian Alkaloids produces circa 40% of the world’s alkaloid raw material crop in Tasmania.

It boasts a modern manufacturing facility, which is fully compliant with Good Manufacturing Practice standards.

Tasmanian Alkaloids has established relationships with many of the world’s leading pharmaceutical companies.


Mutually beneficially relationship

Studies have shown that the inclusion of medicinal cannabis into existing pain management regimes involving opiates resulted in an improvement in pain management and quality of life outcomes, and less adverse side effects.

Cannabinoids and opioids share several pharmacologic properties and may act synergistically in pain treatment.

As such, both parties look forward to also working together to develop novel therapeutic products for the relief of chronic pain.

Furthermore, while this strategic partnership builds, AusCann is able to leverage its other partnership with Canopy Growth Corporation in the short term.

AusCann is able to import medicines from its partner Canopy Growth Corporation, North America’s largest producer of medicinal cannabis.

 

Analysis

The two new licences issued by the Office of Drug Control exhibits the benefits that the strategic partnership has for AusCann.

Tasmanian Alkaloids is an ideal partner and strategic fit for AusCann given their expertise in the cultivation, manufacture and distribution of therapeutic pain products within Australia.

Through this significant strategic partnership, AusCann will have access to Tasmanian Alkaloids’ wealth of expertise.

This is a win-win deal for both companies as it also allows Tasmanian Alkaloids to move into the medical cannabis space.

The positive momentum in the medical cannabis sector continues to grow with a comprehensive report by the U.S. National Academies of Science Engineering Medicine released earlier this year confirming that there is substantial and conclusive evidence for the use of medicinal cannabis in the treatment of chronic pain symptoms.

The need for chronic pain control in Australia is substantial and represents a market of over 3 million patients.

AusCann shares are trading up over 110% since their February ASX-listing price of $0.20.

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Tue, 11 Jul 2017 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180640/auscann-group-holdings-ltd-secures-two-licences-180640.html
<![CDATA[News - AusCann Group Holdings makes new appointments ]]> http://www.proactiveinvestors.com.au/companies/news/179279/auscann-group-holdings-makes-new-appointments-179279.html AusCann Group Holdings (ASX:AC8) has appointed a new alternate director to its board and new chief medical advisor to its staff.

Bruce Linton, a non-executive director has appointed David Pryce to act as his alternate director effective from today.

Pryce is currently vice president of international market expansion and global government relations at Canopy Growth Corp., the largest cannabinoid medicine producer in North America.

In this capacity, Pryce is responsible for taking the company into new markets, growing footprint and driving its global expansion.

Elaine Darby, managing director, commented: “We have worked with David for some time on a management level and the board will greatly benefit from his experience given our international expansion objectives.

“These objectives include expansion into the South American market with our existing Chilean operation and investigating international opportunities with our strategic partner Tasmanian Alkaloids.”


Chief medical advisor

International medical cannabis expert, Dr Danial Schecter has been appointed chief medical advisor.

Doctor training and awareness forms a key part of the company’s strategy to educate the medical community on the potential benefits of cannabinoids as therapeutic agents to treat certain conditions, such as chronic pain.

Schecter believes Australian physicians have not been taught about the endocannabinoid system in medical school or post-graduate training and there are no formal learning pathways.

Because of this, a potentially valuable medication is not going to be prescribed to a large portion of the population who could significantly benefit from this.

In order to rectify this situation, to allow patients access to cannabinoid medicines, Schecter believes it is crucial to support medical education

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Thu, 15 Jun 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179279/auscann-group-holdings-makes-new-appointments-179279.html
<![CDATA[News - AusCann Group Holdings welcomes regulatory change ]]> http://www.proactiveinvestors.com.au/companies/news/179186/auscann-group-holdings-welcomes-regulatory-change-179186.html AusCann Group Holdings (ASX:AC8) welcomes changes that increase the ability of Australian medical practitioners to prescribe cannabinoid medicines to critically ill patients.

The Therapeutic Goods Administration (TGA) currently has two access pathways in which Australian medical practitioners may prescribe unregistered cannabinoid medicines.

A recent disallowance motion by Senator Di Natale changes the regulations to enable terminally ill patients to access medicinal cannabis products.

Elaine Darby, managing director, commented: “AusCann believes that excluding cannabinoid medicines from this pathway was not necessary given the safety evidence in respect to cannabinoids that has come out of pre-clinical and clinical studies.

“We are pleased terminally ill patients will now be able to access cannabinoid medicines through the TGA’s Special Access Scheme Category A.”


The changes explained

The TGA’s two access pathways in which Australian medical practitioners may prescribe unregistered cannabinoid medicines are the Authorised Prescriber Scheme (APS) and the Special Access Scheme (SAS) Category B.

Both of these pathways require the medicinal practitioner to apply for and wait for approval from the TGA prior to being able to prescribe.

SAS Category A does not require prior approval but is a process where the medical practitioner notifies the TGA they have prescribed the medicines.

Prior to the changes, any unregistered therapeutic goods can potentially be supplied via the
SAS Category A process, except for:

- Prohibited substances in Schedule 9 of the Poisons Standard; and
- Medicinal cannabis products.

Senator Di Natale’s disallowance motion changes the regulation to enable terminally ill patients to access medicinal cannabis products through the TGA SAS Category A process.


Background

AusCann is a medical cannabis company that commenced trading on the ASX in February after it raised the maximum $5 million under a prospectus offering.

The company aims to produce and provide high quality, affordable and clinically validated cannabis medicines to patients.

It is bringing together leading expertise and operations across all aspects of the medical cannabis value chain, from cultivation and production, through to manufacture and distribution of products and has built a strong team of experts and partners across the globe.

Partners include:

- Canopy Growth Corp (CVE:CGC): the largest producer of medicinal cannabis globally;
- DayaCann: the only licensed medicinal cannabis grower in Chile; and
- Tasmanian Alkaloids: producer of ~40% of the world’s alkaloid raw material.

During early May, AusCann was granted a licence to cultivate medicinal cannabis in Australia.

The global cannabis market is currently valued at US$50 billion and growing, with an estimated 600,000 patients currently receiving treatment.

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Wed, 14 Jun 2017 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179186/auscann-group-holdings-welcomes-regulatory-change-179186.html
<![CDATA[News - AusCann Group Holdings secures medical cannabis funding ]]> http://www.proactiveinvestors.com.au/companies/news/178032/auscann-group-holdings-secures-medical-cannabis-funding-178032.html AusCann Group Holdings (ASX:AC8) has raised $12 million through the placement of 24 million shares priced at $0.50 to institutional and high net worth investors.

Significantly, the placement price is more than double the price of the company’s ASX debut in February of $0.20.

This demonstrates the high market demand for the company and validates AusCann’s strategy as an Australian-based and globally connected player in the medicinal cannabis sector.

Canopy Growth Corporation, North America’s leading cannabis producer and AusCann’s strategic partner, participated in this placement.

Canopy’s investment was complemented by strong interest from a range of other institutional investors including leading Australian fund manager Tribeca Investment Partners.

Elaine Darby, managing director, commented: “The strong support we have received for this capital raising continues to demonstrate the high level of investor interest in the medicinal cannabis sector in Australia.”


Recent partnership with Tasmanian Alkaloids

Earlier this week, AusCann signed a heads of agreement to form a long-term exclusive strategic partnership with Tasmanian Alkaloids, a global poppy grower and processor.

The two companies will work together to establish cultivation, manufacturing and distribution operations for medicinal cannabis in Australia and overseas.

Jointly, the two companies will secure a licence to cultivate and manufacture medicinal cannabis in Tasmania.

The Tasmanian license will be in addition to AusCann’s current medical cannabis cultivation licence granted last week by the Office of Drug Control.

Tasmanian Alkaloids is an established manufacturer of alkaloid raw materials and produces circa 40% of the world’s alkaloid raw material crop in Tasmania.

It boasts a modern manufacturing facility, which is fully compliant with Good Manufacturing Practice standards.

Tasmanian Alkaloids has established relationships with many of the world’s leading pharmaceutical companies and is the largest producer and exporter of thebaine, and also produces oripavine and codeine at its Tasmanian facility.

AusCann and Tasmanian Alkaloids will work together to establish cultivation, manufacturing and distribution operations for medicinal cannabis in Australia and overseas.


Background

AusCann is a medical cannabis company that commenced trading on the ASX in February after it raised the maximum $5 million under a prospectus offering.

The company aims to produce and provide high quality, affordable and clinically validated cannabis medicines to patients.

It is bringing together leading expertise and operations across all aspects of the medical cannabis value chain, from cultivation and production, through to manufacture and distribution of products and has built a strong team of experts and partners across the globe.

Partners include:

- Canopy Growth Corp (CVE:CGC): the largest producer of medicinal cannabis globally;
- DayaCann: the only licensed medicinal cannabis grower in Chile; and
- Tasmanian Alkaloids: producer of ~40% of the world’s alkaloid raw material.

During early May, AusCann was granted a licence to cultivate medicinal cannabis in Australia.

The global cannabis market is currently valued at US$50 billion and growing, with an estimated 600,000 patients currently receiving treatment.

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Fri, 19 May 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178032/auscann-group-holdings-secures-medical-cannabis-funding-178032.html
<![CDATA[News - AusCann Group Holdings in halt ahead of capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/177885/auscann-group-holdings-in-halt-ahead-of-capital-raising-177885.html AusCann Group Holdings (ASX:AC8) has entered into an ASX trading halt pending details regarding a capital raising.

The halt will remain in place until the opening of trade on Friday 19th May 2017, or earlier if an announcement will be made to the market.

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Wed, 17 May 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177885/auscann-group-holdings-in-halt-ahead-of-capital-raising-177885.html
<![CDATA[News - AusCann Group Holdings partners with Tasmanian Alkaloids ]]> http://www.proactiveinvestors.com.au/companies/news/177879/auscann-group-holdings-partners-with-tasmanian-alkaloids-177879.html AusCann Group Holdings (ASX:AC8) has signed a heads of agreement to form a long-term exclusive strategic partnership with Tasmanian Alkaloids, a global poppy grower and processor.

The two companies will work together to establish cultivation, manufacturing and distribution operations for medicinal cannabis in Australia and overseas.

Jointly, the two companies will secure a licence to cultivate and manufacture medicinal cannabis in Tasmania.

The Tasmanian license will be in addition to AusCann’s current medical cannabis cultivation licence granted last week by the Office of Drug Control.

Elaine Darby, managing director, commented: “This partnership with Tasmanian Alkaloids significantly builds on our position within the Australian market as a leading medicinal cannabis company that intends to cultivate, manufacture and supply the Australian market with access to high quality medicinal cannabis products.”


Tasmanian Alkaloids

Tasmanian Alkaloids is an established manufacturer of alkaloid raw materials, also known as poppies.

Operating since 1976, today Tasmanian Alkaloids produces circa 40% of the world’s alkaloid raw material crop in Tasmania.

It boasts a modern manufacturing facility, which is fully compliant with Good Manufacturing Practice standards.

Tasmanian Alkaloids has established relationships with many of the world’s leading pharmaceutical companies and is the largest producer and exporter of thebaine, and also produces oripavine and codeine at its Tasmanian facility.

AusCann and Tasmanian Alkaloids will work together to establish cultivation, manufacturing and distribution operations for medicinal cannabis in Australia and overseas.


Analysis

Tasmanian Alkaloids is an ideal partner and strategic fit for AusCann given their expertise in the cultivation, manufacture and distribution of therapeutic pain products within Australia.

Through this significant strategic partnership, AusCann will have access to Tasmanian Alkaloids’ wealth of expertise.

This is a win-win deal for both companies as it also allows Tasmanian Alkaloids to move into the medical cannabis space.

Confirmation of a partnership agreement as dictated by the heads of agreement has the potential to act as a share price catalyst for Auscann.

AusCann is trading up 190% to $0.58 from its February 2017 ASX debut at $0.20.

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Wed, 17 May 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177879/auscann-group-holdings-partners-with-tasmanian-alkaloids-177879.html
<![CDATA[News - AusCann Group Holdings wins medical cannabis licence ]]> http://www.proactiveinvestors.com.au/companies/news/177343/auscann-group-holdings-wins-medical-cannabis-licence-177343.html AusCann Group Holdings (ASX:AC8) will join an exclusive group of medical cannabis companies after having been granted a licence to cultivate medicinal cannabis in Australia.

This licence is a significant milestone in the company’s development and enables AusCann to undertake medicinal cannabis cultivation operations within Australia.

AusCann is now well placed to progress its strategy to become a leading supplier of Australian produced high quality, clinically validated and affordable medicinal cannabis to Australian patients.

Elaine Darby, managing director, commented: “This licence enables us to undertake cultivation of medicinal cannabis at our site in Western Australia.

“Through our relationship with our Canadian partner Canopy Growth Corp, the largest producer of medicinal cannabis in North America, we are well positioned to execute the next stage of our strategy, with access to a wealth of expertise and experience.

“This in combination with our licensed joint-venture in Chile, means AusCann is positioned to be a leading player in the global medicinal cannabis market.”


Regulation changes

The licence was granted by the Office of Drug Control, under the Narcotic Drugs Act 1967, and makes AusCann one of a select few companies to be granted a licence.

Cannabinoid medicines were rescheduled as a schedule 8 substance in November last year.

Australian physicians may now apply to the Therapeutic Goods Administration (TGA) and their relevant State and Territory health departments for approval to prescribe.


Marketing to Australian doctors

AusCann has initiated its medical education program, and is hosting Canadian doctor and respected leader in the field of cannabinoid medicines, Dr Danial Schecter, in presenting seminars to Australian doctors later this month.

The company welcomed the release earlier this year of the comprehensive report by the U.S. National Academies of Science Engineering Medicine confirming that there is substantial and conclusive evidence for the use of medicinal cannabis in the treatment of chronic pain symptoms.

The need for chronic pain control in Australia is substantial and represents a market of over 3 million patients.


Able to import in the interim

AusCann is able to import medicines from its Canadian partner Canopy to meet the immediate need of Australian patients until it is able to supply Australian produced cannabinoid medicines.
 

Analysis

This is a major milestone for AusCann and represents significant progress in the company’s strategy of moving towards generating revenue.

AusCann continues to be one of 2017s most successful ASX listings currently trading at over three times its $0.20 listing price.

AusCann will be able to leverage its knowledge gained from overseas markets such as Chile and Canada into the Australian market.

This news is another example of AusCann taking full advantage of being a first mover in this medical cannabis market.

The global cannabis market is currently valued at US$50 billion and growing, with an estimated 600,000 patients currently receiving treatment.

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Fri, 05 May 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177343/auscann-group-holdings-wins-medical-cannabis-licence-177343.html
<![CDATA[News - AusCann Group Holdings in an ASX trading halt pending update ]]> http://www.proactiveinvestors.com.au/companies/news/177267/auscann-group-holdings-in-an-asx-trading-halt-pending-update-177267.html AusCann Group Holdings (ASX:AC8) has been granted a trading halt by the ASX, pending an update to the Australian operations.

The halt will remain in place until the opening of trade on Monday 8th May 2017, or earlier if an announcement is made to the market.

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Thu, 04 May 2017 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177267/auscann-group-holdings-in-an-asx-trading-halt-pending-update-177267.html
<![CDATA[News - AusCann Group Holdings harvesting first crop in Chile ]]> http://www.proactiveinvestors.com.au/companies/news/176195/auscann-group-holdings-harvesting-first-crop-in-chile-176195.html AusCann Group Holdings (ASX:AC8) is in the process of harvesting its first medical cannabis crop located in Chile.

The crop was planted by the DayaCann joint venture, of which AusCann holds 50:50 with Fundacion Daya.

The large open greenhouse grown plants include various strains that have been selected for specific medical usage.

An estimated 300 kilograms of dried cannabis product from the harvest will be sent to a certified manufacturing facility for processing into medicinal cannabis formulations.

Elaine Darby, managing director, commented: “We’re delighted with the harvest of our first crop with our partner Fundacion Daya and we’re confident we have selected the strongest and most appropriate strains for effective medicine formulations and further cultivation in the next harvest.”


Next steps and local market opportunity

Of the strains harvested, four have been selected as superior strains that have been clonally selected for future crops.

Pending successful clinical trials in Chile, these formulations will be registered through the Chilean National Institute of Public Health and made available for sale to Chilean patients and export markets.

South America represents a burgeoning region for medicinal cannabis with Argentina recently giving legislative approval to legalise the use of cannabis oil and other cannabis derivatives for medicinal purposes.

The Health Ministry in Argentina have also established a medical cannabis research program to provide access for patients.

DayaCann is optimally positioned in Argentina’s neighbouring country Chile to become a supplier of clinically validated medical cannabis products to Argentinian patients.

AusCann is also looking at leveraging this knowledge gained from Chile into the Australian market.


Background

Medical cannabis company, AusCann, commenced trading on the ASX in February after it raised the maximum $5 million under its prospectus offering.

AusCann intends to establish a growing facility in Australia to eventually supply Australian patients with Australian grown and manufactured medicines.

However, until domestic approvals are received, AusCann’s medicinal products will be imported from its globally recognised partners.

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Mon, 10 Apr 2017 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176195/auscann-group-holdings-harvesting-first-crop-in-chile-176195.html
<![CDATA[News - AusCann Group Holdings to benefit from federal government changes ]]> http://www.proactiveinvestors.com.au/companies/news/173581/auscann-group-holdings-to-benefit-from-federal-government-changes-173581.html AusCann Group Holdings (ASX:AC8) welcomes the federal government’s move to facilitate faster access to medical cannabis for patients.

The significant regulatory change will authorise controlled importation of medical cannabis by approved suppliers from international sources.

This will allow AusCann to import product ahead of time to meet demand from authorised prescribers and be in a position to more quickly provide patient access.

This will significantly accelerate AusCann’s timeline in being able to supply Australian patients.

Elaine Darby, managing director, commented: “We welcome the decision by the government to accelerate patient access to medicinal cannabis products.

“It is encouraging that they have been listening to patients and doctors and acting on their concerns.”


Background

Medical cannabis company, AusCann, commenced trading on the ASX earlier this month after completing a successful reverse takeover of TW Holdings.

The company raised the maximum $5 million under its prospectus offering by issuing 25 million shares priced at $0.20.

AusCann intends to establish a growing facility in Australia to eventually supply Australian patients with Australian grown and manufactured medicines.

However, until domestic approvals are received, AusCann’s medicinal products will be imported from its partner Canopy Growth Corporation that is globally recognised as one of the leaders in medicinal cannabis.

AusCann is also on track to harvest its first medicinal cannabis crop in Chile in April 2017 through its 50:50 partnership with Fundacion Daya.


Analysis

This regulatory change will drive AusCann’s strategy to deliver high quality, cost effective medicinal cannabis treatments to Australian patients.

As more doctors seek to become authorised prescribers of the medication, AusCann is well placed among the medical community to be the supplier of choice for doctors and patients.

Moreover, this move by the government clearly signals its commitment to bring this medication to patients, Australia-wide.

The regulatory change has seen the stock jump up 45% to $0.29.

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Thu, 23 Feb 2017 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173581/auscann-group-holdings-to-benefit-from-federal-government-changes-173581.html
<![CDATA[News - AusCann Group Holdings to harvest first medical cannabis crop ]]> http://www.proactiveinvestors.com.au/companies/news/173227/auscann-group-holdings-to-harvest-first-medical-cannabis-crop-173227.html AusCann Group Holdings (ASX:AC8) is on track to harvest its first medicinal cannabis crop in Chile in April 2017.

The crop consists of 400 plants across eight strains that are being grown at a 30-hectare facility south of Chile’s capital city, Santiago.

This product is intended to supply third parties for use in clinical trials and depending on results lead to registered product with the Chilean National Institute of Public Health, and subsequent commercial sales.

Elaine Darby, managing director, commented: “The harvest of our first crop in Chile represents a key milestone for AusCann.

“Through our partnership with Fundacion Daya we are excited about the opportunities that lay ahead for both the Chilean and international market.”


Fundacion Daya joint venture

AusCann and Fundacion Daya have formed a 50:50 joint-venture company, DayaCann, which will focus on becoming South America's leading medical cannabis group.

The crop was planted in Chile with the joint venture partner in November 2016 and has been progressing well with the plants now nearing maturity.

Chile provides a framework supporting the entire production chain from cultivation, processing, formulation, trials, research and registration.

This provides a cost-efficient model allowing access to high quality, affordable medicines for those patients in need.

Under current regulations, Chile allows the export of products, once registered as medicines locally, together with exporting extracts as raw material for the international pharmaceutical industry.


Early mover advantage

AusCann has an early mover advantage and a demonstrable position in the global supply chain.

The regulatory landscape for medical cannabis globally is still evolving, both domestically and internationally and the expertise and background of the AusCann board and its partners means it has a clear advantage in navigating this opportunity.

AusCann is well positioned to take advantage of the developing market by bringing together a strong team with relevant and complementary skill sets.

The team includes the largest legal producer of medicinal cannabis in North America, Canopy Growth Corp and Chilean medicinal cannabis grower Fundación Daya.

AusCann has joined the Canopy family of companies and partners that includes Tweed (the most recognised cannabis production brand in the world), Bedrocan, DNA Genetics, Cann Science, Indoor Harvest and Mettrum Health Corp (following its recently announced CAD$430 million acquisition by Canopy).


Background

Medical cannabis company, AusCann, commenced trading on the ASX earlier this month after completing a successful reverse takeover of TW Holdings.

The company raised the maximum $5 million under its prospectus offering by issuing 25 million shares priced at $0.20.

AusCann’s research activities will drive the company’s future earnings.

Results and knowledge gained from AusCann’s research activities are to continuously feed into current and potential commercial activities to optimise revenue and profit from these commercial activities.

Prior to AusCann being able to cultivate and manufacture Australian, it intends to import product suitable for chronic neuropathic pain, chronic pain and treatment resistance epilepsy from its Canadian partner Canopy to meet demand.

Given the maximum of $5 million was raised in the prospectus offering, this provides Auscann with total cash of $8.3 million.

Funds are to be allocated as follows:

- Horticulture research and development: $1.8 million
- Chilean joint venture: $1.35 million
- Analytical testing: $0.33 million
- Clinical trials: $2.77 million
- Medical education: $0.33 million
- Licence applications and fees: $0.21 million
- Termination fee: $0.2 million
- Working capital and offer costs: $1.3 million

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Thu, 16 Feb 2017 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173227/auscann-group-holdings-to-harvest-first-medical-cannabis-crop-173227.html
<![CDATA[News - Auscann Group Holdings welcomes Canadian company to register ]]> http://www.proactiveinvestors.com.au/companies/news/173163/auscann-group-holdings-welcomes-canadian-company-to-register-173163.html Auscann Group Holdings (ASX:AC8) has welcomed Canada-based, world leading diversified cannabis company, Canopy Growth Corporation as a substantial shareholder.

Canopy Growth Corporation holds 23 million shares or 10.6% of the company and is the largest legal producer of medicinal cannabis in North America.

Auscann commenced trading on the ASX earlier this month after completing a successful reverse takeover of TW Holdings.

The company raised the maximum $5 million under its prospectus offering by issuing 25 million shares priced at $0.20.

AusCann has a focus on medical cannabis and is well positioned to take advantage of the developing market by bringing together a strong team with relevant and complementary skill sets.

The team also includes Chilean medicinal cannabis grower Fundación Daya.

AusCann has joined the Canopy family of companies and partners that includes Tweed (the most recognised cannabis production brand in the world), Bedrocan, DNA Genetics, Cann Science, Indoor Harvest and Mettrum Health Corp (following its recently announced CAD$430 million acquisition by Canopy).


Use of funds

Given the maximum of $5 million was raised in the prospectus offering, this provides Auscann with total cash of $8.3 million.

Funds are to be allocated as follows:

- Horticulture research and development: $1.8 million
- Chilean joint venture: $1.35 million
- Analytical testing: $0.33 million
- Clinical trials: $2.77 million
- Medical education: $0.33 million
- Licence applications and fees: $0.21 million
- Termination fee: $0.2 million
- Working capital and offer costs: $1.3 million


Background

AusCann believes that patients have the right to high quality, economical and clinically validated cannabis medicines.

AusCann has the ability to deliver these medicines by:

- Having access to expertise and relevant intellectual property in respect of:
- Plant genetics and breeding;
- Cultivation and production techniques;
- Manufacturing techniques;
- Cannabis medicines that are currently being prescribed for patients for a range of conditions internationally;
- Undertaking clinical studies in Australia;
- Having the expertise to operate under Australia’s cultivation and manufacturing requirements; and
- Being able to supply full spectrum plant extracts.

The company’s business model is based upon developing production of medicinal cannabis and partnering with leading researchers.

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Wed, 15 Feb 2017 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173163/auscann-group-holdings-welcomes-canadian-company-to-register-173163.html
<![CDATA[News - Auscann Group Holdings ready for medical cannabis ASX debut ]]> http://www.proactiveinvestors.com.au/companies/news/172589/auscann-group-holdings-ready-for-medical-cannabis-asx-debut-172589.html Auscann Group Holdings (ASX:AC8) is set to commence its first day of trading on the ASX today after completing a successful reverse takeover of TW Holdings.

During December 2016, the company raised the maximum $5 million under its prospectus offering by issuing 25 million shares priced at $0.20.

AusCann has a focus on medical cannabis and is well positioned to take advantage of the developing market by bringing together a strong team with relevant and complementary skill sets.

The team includes the largest legal producer of medicinal cannabis in North America, Canopy Growth Corp and Chilean medicinal cannabis grower Fundación Daya.

AusCann has joined the Canopy family of companies and partners that includes Tweed (the most recognised cannabis production brand in the world), Bedrocan, DNA Genetics, Cann Science, Indoor Harvest and Mettrum Health Corp (following its recently announced CAD$430 million acquisition by Canopy).


Background

AusCann believes that patients have the right to high quality, economical and clinically validated cannabis medicines.

AusCann has the ability to deliver these medicines by:

- Having access to expertise and relevant intellectual property in respect of:
- plant genetics and breeding;
- cultivation and production techniques;
- manufacturing techniques;
- cannabis medicines that are currently being prescribed for patients for a range of conditions internationally; and
- undertaking clinical studies in Australia;
- Having the expertise to operate under Australia’s cultivation and manufacturing requirements; and
- Being able to supply full spectrum plant extracts.

The company’s business model is based upon developing production of medicinal cannabis and partnering with leading researchers.


Commercialisation strategy

Auscann’s research activities will drive the company’s future earnings.

Results and knowledge gained from AusCann’s research activities are to continuously feed into current and potential commercial activities to optimise revenue and profit from these commercial activities.

Prior to AusCann being able to cultivate and manufacture Australian, it intends to import product suitable for chronic neuropathic pain, chronic pain and treatment resistance epilepsy from its Canadian partner Canopy to meet demand.

The average prices per gram of product in Canada ranges between CAD$5 -$12.

An average cost of production per gram in Canada is circa CAD$2.88.

AusCann’s revenue streams from these expected levels of Australian demand is being determined.


Current activities

AusCann’s research activities include:

- Clinical studies in the areas of chronic pain, chronic neuropathic pain and treatment resistant epilepsy; and
- Cultivation research and development.

AusCann’s current commercial activities include:

- Joint venture cultivation and production in Chile.

AusCann’s potential future commercial activities include:

- Supply of Canadian products to Australian authorised prescribers and third party clinical studies; and
- Cultivation, manufacture and supply of Australian medicinal cannabis products to Australian authorised prescribers


Use of funds

Given the maximum of $5 million was raised in the prospectus offering, this provides Auscann with total cash of $8.3 million.

Funds are to be allocated as follows:

- Horticulture research and development: $1.8 million
- Chilean joint venture: $1.35 million
- Analytical testing: $0.33 million
- Clinical trials: $2.77 million
- Medical education: $0.33 million
- Licence applications and fees: $0.21 million
- Termination fee: $0.2 million
- Working capital and offer costs: $1.3 million

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Fri, 03 Feb 2017 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172589/auscann-group-holdings-ready-for-medical-cannabis-asx-debut-172589.html
<![CDATA[News - TW Holdings completes medical cannabis acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/171972/tw-holdings-completes-medical-cannabis-acquisition-171972.html During December 2016, the company raised the maximum $5 million under its prospectus offering issuing 25 million shares at $0.20.

TW Holding will be renamed AusCann Group Holdings Ltd (ASX:AC8) as part of the reverse takeover.

AusCann will have a focus on medical cannabis and is well positioned to take advantage of the developing market by bringing together a strong team with relevant and complementary skill sets.

The team includes the largest legal producer of medicinal cannabis in North America, Canopy Growth Corp and Chilean medicinal cannabis grower Fundación Daya.

AusCann has joined the Canopy family of companies and partners that includes Tweed (the most recognised cannabis production brand in the world), Bedrocan, DNA Genetics, Cann Science, Indoor Harvest and Mettrum Health Corp (following its recently announced CAD$430 million acquisition by Canopy).

AusCann shares are expects to be reinstated to trading in early February 2017.

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Mon, 23 Jan 2017 07:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171972/tw-holdings-completes-medical-cannabis-acquisition-171972.html
<![CDATA[News - TW Holding closes takeover bid for medical cannabis company AusCann ]]> http://www.proactiveinvestors.com.au/companies/news/171365/tw-holding-closes-takeover-bid-for-medical-cannabis-company-auscann-171365.html TW Holding (ASX:TWH) has outlined that its takeover bid for AusCann Group Holdings Limited closed at 5.00pm on Friday 6 January 2017.

The company has obtained a relevant interest in 100% of the AusCann shares, with the offer now free of all conditions.

TW Holding will be renamed AusCann Group Holdings.

AusCann will have a focus on medical cannabis and is well positioned to take advantage of the developing market by bringing together a strong team with relevant and complementary skill sets.

The team includes the largest legal producer of medicinal cannabis in North America, Canopy Growth Corp and Chilean medicinal cannabis grower Fundación Daya.


Funds raised

Last month the company raised the maximum $5 million under its prospectus offering issuing 25 million shares at $0.20.

The strong interest from investors represents the high market demand for medical cannabis stocks in Australia.


AusCann and Canopy

AusCann has joined the Canopy family of companies and partners that includes Tweed (the most recognised cannabis production brand in the world), Bedrocan, DNA Genetics, Cann Science, Indoor Harvest and Mettrum Health Corp (following its recently announced CAD$430 million acquisition by Canopy).

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Tue, 10 Jan 2017 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171365/tw-holding-closes-takeover-bid-for-medical-cannabis-company-auscann-171365.html
<![CDATA[News - TW Holding successfully raises maximum in prospectus offering ]]> http://www.proactiveinvestors.com.au/companies/news/170909/tw-holding-successfully-raises-maximum-in-prospectus-offering-170909.html TW Holding (ASX:TWH), to be renamed AusCann Group Holdings, has successfully raised the maximum $5 million under its prospectus offering issuing 25 million shares at $0.20.

AusCann will have a focus on medical cannabis and is well positioned to take advantage of the developing market by bringing together a strong team with relevant and complementary skill sets.

The team includes the largest legal producer of medicinal cannabis in North America, Canopy Growth Corp and Chilean medicinal cannabis grower Fundación Daya.

The strong interest from investors represents the high market demand for medical cannabis stocks in Australia.

It is also a reflection of AusCann’s focused growth strategy, high-calibre management team and quality partnerships, including with medical cannabis global leader Canopy Growth Corp.

Canopy is also a substantial shareholder in the company with a circa 11% shareholding upon re-listing.

AusCann has joined the Canopy family of companies and partners that includes Tweed (the most recognised cannabis production brand in the world), Bedrocan, DNA Genetics, Cann Science, Indoor Harvest and Mettrum Health Corp (following its recently announced CAD$430 million acquisition by Canopy).

The funds raised will be used to progress Auscann’s growing licensing application and clinical trials in Australia, with clinical trials expected to encourage practitioners to increasingly consider and prescribe medical cannabis treatments.

Elaine Darby, managing director, commented: “The strong interest we’ve received has been a reflection of the opportunity we have in what is still a nascent industry in Australia.

“AusCann has a clear strategy to supply high quality, economical and clinically validated medicines and we have in place the necessary skills, expertise and intellectual property to enable our operations.”

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Fri, 23 Dec 2016 10:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170909/tw-holding-successfully-raises-maximum-in-prospectus-offering-170909.html
<![CDATA[News - TW Holdings Ltd extends offer period for takeover bid ahead of ASX re-listing ]]> http://www.proactiveinvestors.com.au/companies/news/169573/tw-holdings-ltd-extends-offer-period-for-takeover-bid-ahead-of-asx-re-listing-169573.html TW Holdings Ltd (ASX:TWH) has extended the offer period under its takeover bid for AusCann Group Holdings Ltd to now close on 6 January, 2017.

The company is in the process of re-listing on the Australian Securities Exchange as AusCann with a focus on medical cannabis.

AusCann plans to offer up to 25 million shares through a prospectus offering priced at $0.20.

Recent clinical and observational studies into the potential therapeutic uses of cannabis, and the global legislative changes enabling medical use, is arguably one of the most exciting recent developments in medicine.

The company is well positioned to take advantage of this development by bringing together a strong team with relevant and complementary skill sets.

The team includes the largest legal producer of medicinal cannabis in North America, Canopy Growth Corp and Chilean medicinal cannabis grower Fundación Daya.

Utilising the expertise and intellectual property of these partners, as well as its other domestic and international partners, the company aims initially to undertake relevant research and development activities that will enable it to produce high quality, economical and clinically validated cannabis medicines in Australia.


Chilean cultivation joint venture

During early November, AusCann entered into a binding heads of agreement with Fundación Daya, based in Santiago, Chile.

Daya has been awarded a medicinal cannabis grow permit by the Chilean Government for each of the last three years, up to and including 2016.

The proposal is to form a for-profit joint venture vehicle with AusCann holding a 50% stake.

The joint venture is to hold the grow permit and derive income from sale of products both domestically in Chile and over time into other international markets.

It also intends to utilise the pharmaceutical manufacturing services of a Chilean based certified manufacturer for the development of medicinal cannabis products.

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Mon, 28 Nov 2016 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169573/tw-holdings-ltd-extends-offer-period-for-takeover-bid-ahead-of-asx-re-listing-169573.html
<![CDATA[News - TW Holdings Ltd completes consolidation during transition to AusCann ]]> http://www.proactiveinvestors.com.au/companies/news/168836/tw-holdings-ltd-completes-consolidation-during-transition-to-auscann-168836.html The company now has a very tight register of circa 30.1 million shares.

TW Holdings is in the process of re-listing on the Australian Securities Exchange as AusCann Group Holdings Limited.

AusCann has entered into an agreement to form a joint-venture with Chilean group Fundación Daya – the only group to have held a medical cannabis production licence in Chile.

The agreement provides immediate ability to commence grow operations with a strong local partner already holding necessary licences and permits.

The company has significant other global relationships in place, including a link with Canada’s largest medicinal cannabis group, Canopy Growth Corporation, and Europe’s leading cannabis breeding company Phytoplant.

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Fri, 11 Nov 2016 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168836/tw-holdings-ltd-completes-consolidation-during-transition-to-auscann-168836.html
<![CDATA[News - TW Holdings Ltd: AusCann deals into medical cannabis production exposure in Chile ]]> http://www.proactiveinvestors.com.au/companies/news/168785/tw-holdings-ltd-auscann-deals-into-medical-cannabis-production-exposure-in-chile-168785.html TW Holdings Ltd (ASX:TWH) is in the process of re-listing on the Australian Securities Exchange as AusCann Group Holdings Limited.

AusCann has entered into an agreement to form a joint-venture with Chilean group Fundación Daya – the only group to have held a medical cannabis production licence in Chile.

The agreement provides immediate ability to commence grow operations with a strong local partner already holding necessary licences and permits.

It also delivers strong relationships with government, hospitals, patients and pharmaceutical manufacturers & distributors that are already in place.

The first crop is to be planted later this month with first harvest in May 2017.

Elaine Darby, managing director for AusCann, commented:

"We established AusCann in 2014 with the belief that patients have the right to high quality, cost effective, clinically validated cannabis medicines.

"We have spent considerable effort in building a strong set of global relationships with major players to enable us to supply such medicines.

"Combined with our link with Canada’s largest medicinal cannabis group, Canopy Growth Corporation, and Europe’s leading cannabis breeding company Phytoplant, this initiative in Chile demonstrates that AusCann is well and truly a major player in the global sector.

"We have de-risked the company with the ability to proceed with growing activities immediately and diversified our geographic opportunities to now include major markets in South America including Chile, Argentina and Brazil."

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Thu, 10 Nov 2016 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168785/tw-holdings-ltd-auscann-deals-into-medical-cannabis-production-exposure-in-chile-168785.html
<![CDATA[News - TW Holdings Ltd to make takeover bid for medicinal cannabis play, AusCann ]]> http://www.proactiveinvestors.com.au/companies/news/166732/tw-holdings-ltd-to-make-takeover-bid-for-medicinal-cannabis-play-auscann-71301.html TW Holdings Ltd (ASX:TWH) will make a conditional off-market takeover bid for 100% of the shares in AusCann Group Holdings Ltd.

The bid is part of its strategy to acquire 100% of AusCann as indicated to the market in May 2016.

AusCann aims to bring the cultivation and manufacture of high value medicinal cannabis products into Australia.

TW Holdings will offer 1 ordinary share and 0.1924 performance shares for each AusCann share on issue.

A shareholder meeting to approve the change in the nature of TWH activities is scheduled for 31 October 2016.

A prospectus to raise up to $5 million will be lodged in early October 2016.


Indicative timetable

- 29 September: Lodge notice of General Meeting with ASX and despatch to shareholders;
- 3 October (week commencing): Lodge prospectus with ASIC and ASX and open public offer;
- 3 October (week commencing): Lodge bidder’s statement with ASIC and despatch;
- 12 October: Despatch of AusCann Target Statement;
- 31 October: Suspension of TWH securities from trading on ASX at opening of trading;
- 31 October: Hold General Meeting;
- Early November: Public offer closes;
- Mid November: Completion of proposed acquisition and issue of shares; and
- Late November: TW Holdings to re-list as AusCann Group Holdings Limited.


AusCann Group Holdings Ltd

AusCann was established in 2014 to bring world’s best practice into Australia for the cultivation and manufacture of high value medicinal cannabis products.

It’s founding shareholders and directors comprise a group of high profile and seasoned executives with backgrounds in government, medicine, law enforcement, bio-pharmaceuticals and capital markets.

The company’s approach is to build strong and long-lasting partnerships and collaborations with leading groups across the globe to ensure that AusCann remains at the forefront of the continually evolving medical cannabis landscape in Australia.  

These collaborations include partnerships with European breeding companies, leading universities in Australia, clinical stage biotech companies and US-based groups dealing direct with patients and with a deep understanding of treatment regimes including dosing and protocols. 


AusCann board recommends bid

TW Holdings has been informed by the AusCann board of directors that:

- subject to TWH shareholders approving all relevant resolutions at the General Meeting; and 
- in the absence of a superior proposal for AusCann, 

they will unanimously recommend that AusCann shareholders accept the offer.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 30 Sep 2016 12:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166732/tw-holdings-ltd-to-make-takeover-bid-for-medicinal-cannabis-play-auscann-71301.html
<![CDATA[News - TW Holdings Ltd: AusCann strengthens its board of directors ]]> http://www.proactiveinvestors.com.au/companies/news/146737/tw-holdings-ltd-auscann-strengthens-its-board-of-directors-68984.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover over of AusCann Group Holdings Ltd for 100% of the issued capital.

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

AusCann has strengthened its board with the appointment of Bruce Linton and Bruce McHarrie as non-executive directors. Mick Palmer AO will be stepping down for personal reasons.

Linton is the founder, chairman and CEO of Canopy Growth Corporation, which is the world’s biggest producer of legal cannabis.

AusCann recently entered into a strategic partnership with AusCann.

McHarrie is an experienced senior executive with a background in the life sciences industry focussed on finance, operations, business and investment management and strategic planning.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 02 Jun 2016 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146737/tw-holdings-ltd-auscann-strengthens-its-board-of-directors-68984.html
<![CDATA[News - TW Holdings Ltd: AusCann and Murdoch University in research alliance ]]> http://www.proactiveinvestors.com.au/companies/news/146736/tw-holdings-ltd-auscann-and-murdoch-university-in-research-alliance-68787.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover over of AusCann Group Holdings Ltd for 100% of the issued capital.

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

Earlier in the month the company sealed a strategic partnership with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

AusCann continues to build its strategic relationships, and has now entered a five year research alliance with the Murdoch University.

The alliance is intended to lead to the development of projects in the field of medicinal cannabis.

Elaine Darby, chief executive for AusCann, commented: “We are particularly proud to have Murdoch University as a partner, given their research into plant breeding is truly world renowned."

There have been recent changes to the Narcotics Drug Act, which have provided a pathway to permit cannabis for medicinal product manufacture, to be grown in Australia.

Under the current agreement Murdoch University will not receive any profits from the outcome of the research activities.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 24 May 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146736/tw-holdings-ltd-auscann-and-murdoch-university-in-research-alliance-68787.html
<![CDATA[News - TW Holdings Ltd receives positive re-rating on medical cannabis transition ]]> http://www.proactiveinvestors.com.au/companies/news/146735/tw-holdings-ltd-receives-positive-re-rating-on-medical-cannabis-transition-68643.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover of Australian medical cannabis company AusCann Group Holdings Limited, and shares in the company have received a positive re-rating recently.

Shares in TWH last traded at $0.014, up from $0.01 at the start of May, and more than double where the company was trading a month ago.

AusCann recently entered an agreement with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

Canopy was the first publicly traded federally regulated cannabis producer in North America and remains the largest and most diversified.

It is listed on the TSX Venture Exchange and has a market capitalisation over A$250 million.

AusCann will issue shares equal to 15% of AusCann to Canopy in exchange for access to Canopy’s large range of expertise and intellectual property in cultivation, manufacturing and supply of high quality medicinal cannabis.


About AusCann

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

These collaborations include partnerships with European breeding companies, leading universities in Australia, clinical stage biotech companies and US-based groups dealing direct with patients and with a deep understanding of treatment regimes including dosing and protocols.

The current TWH Board will resign, and Dr Mal Washer will be appointed as a non-executive chairman, a medical doctor and former Federal Member of Parliament.

Elaine Darby will be appointed managing director, who has a science/law background and extensive experience with clinical trials and regulatory environments.

Harry Karelis will be appointed as an executive director, who has a science/finance background with extensive capital markets experience particularly in start-ups.

Other board members include Mick Palmer, a former Head of the Australian Federal Police and the Hon Cheryl Edwardes, the former Attorney General and Environment Minister in Western Australia.

The company will change its name to AusCann Group Holdings Limited.

It is expected that TWH will convene a meeting to facilitate shareholder approval in late May 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 17 May 2016 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146735/tw-holdings-ltd-receives-positive-re-rating-on-medical-cannabis-transition-68643.html
<![CDATA[News - TW Holdings Ltd: AusCann appoints Hon Cheryl Edwardes to the board ]]> http://www.proactiveinvestors.com.au/companies/news/146734/tw-holdings-ltd-auscann-appoints-hon-cheryl-edwardes-to-the-board-68554.html TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover by AusCann Group Holdings Limited.

AusCann has now appointed the former WA Attorney General, the Hon Cheryl Edwardes, to its board.

Elaine Darby, managing director for AusCann, said she was looking forward to Ms Edwardes’ contribution to the board at a time of rapid growth for the company.

“Cheryl is a proven leader and is tremendously knowledgeable across a wide range of areas of public policy and her input will be vital as we progress to becoming an ASX listed company."


AusCann sign medical cannabis deal with Canopy Growth Corp.

AusCann recently sealed a strategic partnership with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

AusCann will issue shares equal to 15% of AusCann to Canopy in exchange for access to Canopy’s large range of expertise and intellectual property in cultivation, manufacturing and supply of high quality medicinal cannabis.

Canopy was the first publicly traded federally regulated cannabis producer in North America and remains the largest and most diversified. It is listed on the TSX Venture Exchange and has a market capitalisation over A$250 million.

Canopy’s core brands are Tweed, the world’s most recognised cannabis brand, and Bedrocan Canada, which produces and sells genetically standardised cannabis varieties.

Canopy operates two indoor production facilities and a large greenhouse with a combined size of more than 46,400 square metres of production capacity, making it the largest legal cannabis producer in the world.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 11 May 2016 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146734/tw-holdings-ltd-auscann-appoints-hon-cheryl-edwardes-to-the-board-68554.html
<![CDATA[News - TW Holdings, AusCann sign medical cannabis deal with Canopy Growth Corp. ]]> http://www.proactiveinvestors.com.au/companies/news/146733/tw-holdings-auscann-sign-medical-cannabis-deal-with-canopy-growth-corp-68487.html TW Holdings Ltd (ASX:TWH), which is in the process of a reverse takeover by AusCann Group Holdings Limited has sealed a strategic partnership with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CVE:CGC).

AusCann will issue shares equal to 15% of AusCann to Canopy in exchange for access to Canopy’s large range of expertise and intellectual property in cultivation, manufacturing and supply of high quality medicinal cannabis.

A binding agreement has also been finalised by TWH and Australian medical cannabis company AusCann Group for the reverse takeover of TWH following the heads of agreement signed in March 2016.

Executive chairman of Canopy Group, Bruce Linton will join the new AusCann board of directors alongside a strong leadership team that combines experts from public health, policy makers, and medically focused entrepreneurs.

Canopy was the first publicly traded federally regulated cannabis producer in North America and remains the largest and most diversified. It is listed on the TSX Venture Exchange and has a market capitalisation over A$250 million.

Canopy’s core brands are Tweed, the world’s most recognised cannabis brand, and Bedrocan Canada, which produces and sells genetically standardised cannabis varieties.

Canopy operates two indoor production facilities and a large greenhouse with a combined size of more than 46,400 square metres of production capacity, making it the largest legal cannabis producer in the world.


Canopy Transaction overview

A total of 459,300,000 TWH shares will be issued to Canopy, equal to 12.03% of the company, pre-consolidation.

Canopy's shares in TWH (AusCann) will remain in a voluntary three year lock up/escrow. Canopy will be granted a three year option to acquire a further 5% stake in AusCann.

The new shares to be issued to Canopy will be included within the consideration already allocated to AusCann shareholders.

The deal is conditional on completion of due diligence investigations by the parties.

The company will need to re-comply with Chapters 1 and 2 of the ASX Listing Rules, consolidation, capital raising and shareholders approvals.


Additional shares to be issued by TWH

- 1,668,192,121 shares in TWH will be issued to AusCann, equal to 43.7% of the pre consolidation capital. An additional 321,000,000 performance shares are able to be issued to AusCann, based on agreed milestones.

- 805,333,333 shares will be issued to AusCann convertible noteholders, equal to 21.1%.

- 129,174,545 shares will be issued to AusCann transaction facilitators, equal to 3.4%.

- 153,100,000 will be issued to TWH transaction facilitators, equal to 4.0%.

- Current shares on issue are 15.8%.


Other key transaction details

TWH will undertake a capital raising to raise at least $2.5 million.

TWH will undertake a consolidation of its issued share capital on the basis of one new share for every 20 existing shares on issue.

TWH will a meeting of TWH shareholders to obtain all approvals that are required to give effect to the transactions contemplated.

AusCann managing director, Elaine Darby, commented: the Canopy agreement will cement AusCann’s leadership position in Australia’s rapidly developing medicinal cannabis market.

“We are exceptionally happy with this alliance with Canopy Growth Corporation, which has been a global pioneer in the development of medicinal cannabis.

“Our aim is to establish the Australian medical community’s trust in these products and to produce high quality, dependable, economical and clinically validated medicines and this partnership is a massive step toward achieving that aim.’’

While Bruce Linton, Chairman & CEO of Canopy Growth, added: “I’m very pleased to enter into this new international relationship, the first of its kind for a Canadian cannabis company.

“As the Australian government begins to lay out a framework for legal medical cannabis, AusCann has the same opportunities and challenges that Tweed and its sister companies faced several years ago.

"We have confidence that the Australian medical cannabis market will grow similarly to Canada and we think the lessons we learned in our early days will prove invaluable to the team at AusCann.”

TWH chairman, Mr David Wheeler, said the agreement was confirmation that the decision to purchase AusCann was a good one for TWH shareholders.

“We are very excited about the future for the medicinal cannabis market in Australia and once again it has been shown that AusCann is a best of breed company with a strong board and management team and significant international connections."


About AusCann

AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.

These collaborations include partnerships with European breeding companies, leading universities in Australia, clinical stage biotech companies and US-based groups dealing direct with patients and with a deep understanding of treatment regimes including dosing and protocols.

The current TWH Board will resign, and Dr Mal Washer will be appointed as a non-executive chairman, a medical doctor and former Federal Member of Parliament.

Elaine Darby will be appointed managing director, who has a science/law background and extensive experience with clinical trials and regulatory environments.

Harry Karelis will be appointed as an executive director, who has a science/finance background with extensive capital markets experience particularly in start-ups.

Other board members include Mick Palmer, a former Head of the Australian Federal Police and the Hon Cheryl Edwardes, the former Attorney General and Environment Minister in Western Australia.

The company will change its name to AusCann Group Holdings Limited.

It is expected that TWH will convene a meeting to facilitate shareholder approval in late May 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 09 May 2016 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146733/tw-holdings-auscann-sign-medical-cannabis-deal-with-canopy-growth-corp-68487.html
<![CDATA[News - TW Holdings Ltd to reveal material acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/146732/tw-holdings-ltd-to-reveal-material-acquisition-67455.html TW Holdings Ltd (ASX:TWH) has some interesting news flow expected early next week, in regards to entering into a term sheet for a material acquisition.

The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Tuesday 15th March 2016, or earlier if an announcement is made to the market.

 

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Fri, 11 Mar 2016 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146732/tw-holdings-ltd-to-reveal-material-acquisition-67455.html
<![CDATA[News - TW Holdings to divulge acquisition terms for Van Hoogen oil project ]]> http://www.proactiveinvestors.com.au/companies/news/146731/tw-holdings-to-divulge-acquisition-terms-for-van-hoogen-oil-project-50586.html TW Holdings (ASX: TWH) is preparing details in regards to the terms of the acquisition of the Van Hoogen oil project, which is an unconventional tight oil project located in the Cline Shale Tight Oil Play in the Permian Basin, Texas.

The ASX has granted TW Holdings a trading halt, with its shares placed in pre-open.

TWH Holdings has contracted to purchase an 80% working interest in 4,647 gross acres of oil and gas leases located within the Cline Shale Tight Oil Play in the Permian Basin where 400 drilling rigs are currently engaged.

Vendors include Peter Allchurch and Neville Henry, two highly experienced and successful oil men involved in the discovery of the Eagle Ford Shale in Texas.

TW Holdings is currently looking to raise $12 million.

The halt will remain in place until the opening of trade on Friday 29th November 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 27 Nov 2013 11:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146731/tw-holdings-to-divulge-acquisition-terms-for-van-hoogen-oil-project-50586.html
<![CDATA[News - TW Holdings turns focus to oil with deal to acquire Texas oil project ]]> http://www.proactiveinvestors.com.au/companies/news/146730/tw-holdings-turns-focus-to-oil-with-deal-to-acquire-texas-oil-project-43859.html TW Holdings (ASX: TWH) has signed an agreement to acquire a 40% working interest in the 6,230 gross acre Van Hoogen Oil Project in the developing Cline Shale Oil play of central west Texas.

The acquisition includes the purchase of proprietary geological information, including well data, seismic, wireline logs and mud logs that pertain to three unconventional and two conventional oil plays.

Notably, the project is located just 4.8 kilometres from Devon Energy’s (NYSE:DVN) Harris M-1H well, which flowed 1,000 barrels of oil equivalent per day from the Three Fingers Black Shale horizon within the Cline Shale.

TWH will pay the vendor 30 million shares priced at A$0.20 each – post a 1 for 17 consolidation, 45 million unlisted TWH options exercisable at A$0.20 on or before 31 March 2018, 70,000 TWH performance shares and US$2 million cash subject to achievement of various performance milestones.

As part of the transaction, TWH will undergo a capital raising to raise up to $12 million as part of its transition into an oil company and change its name to Beretta Oil and Gas.

The Cline Shale Oil play is located on the eastern shelf of the Permian Basin in West Texas and has been identified as an emerging oil shale development region with excellent potential.

The Permian Basin was the source of some of the earliest oil and gas discoveries in the United States. It covers roughly 66,000 square miles and contains hundreds of oil and gas fields and is one of the most prolific oil areas in North America, having produced 35 billion barrels from multiple zones.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 May 2013 14:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146730/tw-holdings-turns-focus-to-oil-with-deal-to-acquire-texas-oil-project-43859.html
<![CDATA[News - TW Holdings to reveal outcome of Philippines project negotiations ]]> http://www.proactiveinvestors.com.au/companies/news/146729/tw-holdings-to-reveal-outcome-of-philippines-project-negotiations-33503.html TW Holdings (ASX: TWH) has requested a trading halt today as it works to complete negotiations with a third party to begin due diligence on a proposed project in the Philippines.

The company, which was formerly known as CRW Holdings, has previously revealed that concurrent with actions in relation to its core activities, TW Holdings continues to consider other potential areas of interest.

TW Holdings is currently an Australian holding company with a focus on investments in its wholly owned subsidiary Cockatoo Ridge Wines Ltd, a wine producer.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Wednesday 19 September.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 17 Sep 2012 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146729/tw-holdings-to-reveal-outcome-of-philippines-project-negotiations-33503.html