The Hydroponics Company (ASX:THC) through its wholly-owned medicinal cannabis subsidiary, Canndeo Limited, is building a domestic medicinal cannabis production and supply capability.
This is being achieved through the licensing program established under the Narcotic Drugs Act 1967.
There are three relevant licences issued by the Office of Drug Control:
- A cannabis research licence allows the production of cannabis strains for research into medicinal use;
- A medicinal cannabis licence allows either cultivation or production or both of medicinal cannabis plants; and
- A manufacturing licence allows the manufacture of cannabis and cannabis extract into medicinal cannabis.
Canndeo received a cannabis research licence on 6 July 2017, and its application for a medicinal cannabis licence is progressing in its assessment and a manufacturing licence application is currently under development.
THC said that it will advise the market when the licences are granted and also with regard its domestic medicinal cannabis production and supply capability.