Sign up Australia
Proactive Investors - Run By Investors For Investors

Cann Group shares rise after harvesting its first batch of medicinal cannabis

The company is producing medicinal cannabis for a final product that can be accessed by patients.
A cannabis cultivation facility
Last week, the company signed an agreement to import and sell a proprietary vaporizing system

Cann Group Ltd (ASX:CAN) has crossed a major milestone by completing the harvest of its first cultivation cycle of medicinal cannabis at the company’s Southern facility in Victoria.

The company’s shares were last trading 7.7% higher intra-day, at $1.26.

Cann’s production process, which includes the curing and drying of harvested material, has been completed, and the approval received from the Office of Drug Control to send samples for full analysis.

The plant material was harvested in the first half of August under Cann’s cannabis research permits as well as its medicinal cannabis permit.

These permits allow for the establishment of breeding plants for propagation purposes and also facilitates the research program being undertaken with CSIRO to develop unique cannabis extracts.

Cann is producing medicinal cannabis for manufacturing into a final product that can be accessed by patients via clinical trials, or through the TGA’s Authorised Prescriber or Special Access Scheme.

Last week, the company signed up with CannaKorp, Inc. to import and sell CannaKorp’s proprietary vaporizing system and to produce the medicinal cannabis pods associated with the device.

READ NOW: Cann Group to launch cannabis vaporizing system

The vaporizing system will be sold as an open platform for licensed medicinal cannabis cultivators looking to have their cannabis available via a vaporization device.

View full CAN profile View Profile

Cann Group Ltd Timeline

Related Articles

bacteria
June 27 2018
Ridinilazole is a possible treatment for C. Difficile and Summit hopes to kick off a phase III trial in the first quarter of 2019
People working in a laboratory
May 02 2018
The benefits of Admedus' proprietary ADAPT technology and products are now scientifically proven beyond doubt.
Picture of evolis products
April 04 2018
Fillerina® is complementary to the company’s evolis® haircare range.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use