Recruitment for the required skillsets to build the Australian business is underway.
Management is engaging personnel who can assist in research and development, growing and manufacturing, importation, clinical trials and promoting product demand.
There have also been management changes at the company with Dr Andrew Beehag, former head of Canndeo finishing in March 2018, and the experienced Steven Xu recently appointed as a director.
New engagements at an operational level and management changes will improve the group’s capabilities, driving growth within the existing regulatory and clinical frameworks that exist in Australia.
Well positioned to take advantage of changes in export rules
With more than 17 years of cannabis sativa breeding, variety selection and growth management, The Hydroponics Company is actively developing plant breeding technology.
This is aimed at multiple markets for high purity cannabidiol, a new class of medicinal product that can be used to target dementia, epilepsy and other neurological disorders.
The Hydroponics Company is well-positioned to take advantage of changes in export rules recently announced by the Federal Government.
This development resulted in the company’s shares increasing by circa 50% in January, and they touched a one-month intraday high of $1.12 less than a fortnight ago.