Proactiveinvestors Australia AusCann Group Holdings Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia AusCann Group Holdings Ltd RSS feed en Tue, 18 Dec 2018 02:47:03 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - AusCann Group shortlists candidates for chief executive officer role ]]> https://www.proactiveinvestors.com.au/companies/news/211281/auscann-group-shortlists-candidates-for-chief-executive-officer-role-211281.html AusCann Group Holdings Ltd’s (ASX:AC8) search for a new chief executive officer is progressing to plan and is now at an advanced stage.

The board has selected a final shortlist and is confident in the high calibre of Australian and international candidates that it believes have the necessary skills and experience to guide AusCann through its next phase of growth as a pharmaceutical manufacturing and sales business.

AusCann is expected to make an appointment once final interviews have been completed early in the new year.

Executive director Dr Paul MacLeman will act as interim CEO from January 1, 2019 until a full-time appointment is made by the board.

READ: AusCann Group appoints Paul MacLeman as executive director

Dr MacLeman is an experienced pharmaceutical executive and has been a senior consultant to AusCann since October 2017. He is leading the board’s executive CEO search process.

AusCann managing director Elaine Darby said: “The CEO search process is progressing very well and is now nearing completion.

“The transition is a natural evolution that reflects the continued growth and development of AusCann, and the board has worked to ensure it is a well planned and orderly one.

READ: AusCann Group appoints PCI Pharma to manufacture first product line

“I am extremely proud of what we have achieved at AusCann since the inception of the company in 2014 and listing in early 2017, including our licensing, cultivation, and product development activities which have culminated into our hard shell capsules soon to be commercialised.

“I am confident AusCann will go from strength to strength as it moves into a manufacturing and marketing footing for our first-generation product range.

“We see innovation and continued new product development as key to the next stages of the company’s development.”

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Mon, 17 Dec 2018 13:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211281/auscann-group-shortlists-candidates-for-chief-executive-officer-role-211281.html
<![CDATA[News - AusCann Group appoints PCI Pharma to manufacture first product line ]]> https://www.proactiveinvestors.com.au/companies/news/209051/auscann-group-appoints-pci-pharma-to-manufacture-first-product-line-209051.html AusCann Group Holdings Ltd (ASX:AC8) has achieved another milestone after appointing TGA-licensed PCI Pharma to manufacture and release its first medicinal cannabis product line.

The proprietary solid hard shell capsules for the treatment of chronic pain are scheduled for release in the first half of 2019.

The capsules will initially target a market that is estimated to be 1.9 million Australians who suffer chronic neuropathic pain.

Sufferers can access the treatment through the TGA’s special access scheme (SAS).

READ: AusCann Group releases education resources for medical cannabis awareness

AusCann’s managing director Elaine Darby said: “AusCann elected to work with PCI Pharma due to their significant experience in providing manufacturing services of solid dose potent products to high standards of safety and quality.

“This allows AusCann to bring its first hard shell capsules into the chronic pain market as quickly as possible, while continuing to focus on the development of our second generation cannabinoid pharmaceutical products.”

Western Australia site proposed in early 2019

The manufacturing work by PCI Pharma complements AusCann’s research and development site it proposes to establish in Western Australia in early 2019.

The site will be focused on the development of AusCann’s cannabinoid pharmaceutical product pipeline.

It will encompass cultivation, extraction, new product development and manufacturing activities.

3.2 million Australians suffer chronic pain

Around 3.2 million Australians suffer chronic pain and existing treatments are lacking in efficacy and have notable side effects.

The main reason for the use of medicinal cannabis global is for the treatment of chronic pain.

Notably, it is also an area where there is clinical data supporting its use.

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Tue, 13 Nov 2018 12:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209051/auscann-group-appoints-pci-pharma-to-manufacture-first-product-line-209051.html
<![CDATA[News - AusCann Group releases education resources for medical cannabis awareness ]]> https://www.proactiveinvestors.com.au/companies/news/206138/auscann-group-releases-education-resources-for-medical-cannabis-awareness-206138.html AusCann Group Holdings Ltd (ASX:AC8) has released a series of online courses for Australian health professionals, as a part of its Medical Outreach Program.

The online education courses aim to support Australian health professionals make informed decisions regarding cannabinoid therapeutics.

AusCann’s chairman Dr Mal Washer said: “It is essential that Australian doctors are informed about the endocannabinoid system and cannabinoid therapeutics so that they can make informed decisions regarding treatment possibilities.

“Until it becomes part of the medical syllabus, there is a need to provide accessible, referenced, objective information about cannabinoid medicines that doctors and other health professionals can draw upon to inform their thinking.”

READ: AusCann Group signs a medical cannabis deal with Columbia based Khiron Life Sciences

AusCann’s chief medical advisor Dr Danial Schecter built an experienced team for the outreach program.

The online courses represent the latest component of that outreach program.

READ: AusCann Group commences trading in the US increasing global exposure

AusCann recently commenced trading on the US OTCQX Market under the stock symbol ACNNF.

Trading on the OTCQX supports AusCann’s strategy to broaden its international investor base, particularly in North America where it has a number of strategic agreements in place.

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Tue, 02 Oct 2018 09:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206138/auscann-group-releases-education-resources-for-medical-cannabis-awareness-206138.html
<![CDATA[News - AusCann Group signs a medical cannabis deal with Columbia based Khiron Life Sciences ]]> https://www.proactiveinvestors.com.au/companies/news/206033/auscann-group-signs-a-medical-cannabis-deal-with-columbia-based-khiron-life-sciences-206033.html AusCann Group Holdings Ltd’s (ASX:AC8) Chilean joint venture DayaCann has signed a memorandum of understanding (MoU) with Columbian medical cannabis company Khiron Life Sciences Corp (CVE:KHRN).

Khiron has its core operations in Colombia and aims to address the unmet medical needs in a market of over 620 million people in Latin America.

The MoU contemplates a method of collaboration through which new alternatives of medical cannabis are offered to patients in Chile.

To achieve this, the parties will engage in cultivation, manufacturing, pedagogical, scientific and other activities that present cannabinoid medicines as a viable medical option.

READ: AusCann Group commences trading in the US increasing global exposure

As part of the agreement, Khiron will provide funds to support the development of these activities.

Under the MoU, DayaCann will provide cultivation and manufacturing services to Khiron.

AusCann and Fundación Daya formed DayaCann in 2016 with the aim of becoming Latin America’s leading medicinal cannabis group.

It is worth noting that DayaCann is the only company in Chile to hold a medical cannabis production licence.

 

DayaCann has already completed two harvests at its 30-hectare facility yielding a total of over 1000 kilograms of dried cannabis flower.

A portion of this cannabis is being used by Chilean pharmaceutical manufacturing group, Knop Laboratories, to create medical cannabis products available to Chilean patients via a special access scheme.

READ: Auscann Group makes steady progress towards production of cannabinoid medicines

AusCann managing director Elaine Darby said: “We look forward to working with Khiron through our joint venture DayaCann.

“To be supplying them high quality cannabinoid medicines and working together on addressing the needs of the Latin American market.

“The MoU will not only expand DayaCann’s presence in Chile, but also give DayaCann wider access to the Latin American market.”

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Mon, 01 Oct 2018 11:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206033/auscann-group-signs-a-medical-cannabis-deal-with-columbia-based-khiron-life-sciences-206033.html
<![CDATA[News - AusCann Group appoints Paul MacLeman as executive director ]]> https://www.proactiveinvestors.com.au/companies/news/205809/auscann-group-appoints-paul-macleman-as-executive-director-205809.html AusCann Group Holdings Ltd (ASX:AC8) (OTCQX:ACNNF) has appointed experienced pharmaceutical executive, Dr Paul MacLeman, to the board as an executive director.

Dr MacLeman has over 25 years’ board and executive experience across the life sciences, agricultural and not for profit sectors.

This includes strategy formulation, capital raising, business development, technology commercialisation and sales & marketing.

He has also launched a variety of products in Australia, the US and Asia, founded life sciences start-ups in the biologics area and worked in investment banking.

READ: Auscann Group makes steady progress towards production of cannabinoid medicines

AusCann chairman Dr Mal Washer said: “I am delighted that Paul has joined the AusCann Board.

“He has an in-depth understanding of the AusCann business through his existing engagement since October 2017 and his ongoing contribution to the company’s pharmaceutical development activities, culminating in our patent application for a new final dose form cannabinoid therapeutic.

“His extensive experience in the pharmaceutical industry will be a valuable asset as we move forward.

“Paul is also well placed to lead the executive search process to find a new CEO for AusCann’s next phase of development into a pharmaceutical manufacturing and sales business.”

READ: AusCann Group commences trading in the US increasing global exposure

AusCann managing director Elaine Darby has advised the board she intends to step down as managing director as part of the company’s transition to a sales-focused pharmaceutical company.

The board will now commence a comprehensive executive search to recruit a suitable candidate.

Darby will continue in her role to ensure an orderly transition process until an appropriate time to hand over leadership responsibilities.

READ: AusCann Group well positioned as investors move in on medical cannabis sector

AusCann chairman Mal Washer said: “I am very pleased with the substantial progress the company has made under Elaine’s leadership over the past few years.

“We have positioned ourselves as a leader with the successful development of our new dose form cannabinoid pharmaceutical for the control of chronic pain.

“The Board thanks Elaine for her essential role in taking AusCann from a small start-up company through to one of the leading companies in medical cannabis listed on the ASX.”

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Thu, 27 Sep 2018 12:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205809/auscann-group-appoints-paul-macleman-as-executive-director-205809.html
<![CDATA[News - AusCann Group commences trading in the US increasing global exposure ]]> https://www.proactiveinvestors.com.au/companies/news/204689/auscann-group-commences-trading-in-the-us-increasing-global-exposure-204689.html AusCann Group Holdings Ltd (ASX:AC8) (OTCQX:ACNNF) has commenced trading on the US OTCQX Market under the stock symbol ACNNF.

Trading on the OTCQX supports AusCann’s strategy to broaden its international investor base, particularly in North America where it has a number of strategic agreements in place.

The benefits of cross-trading in the US and expanded access to investors, diversification of the shareholder base, and enhancing the accessibility and liquidity of the company’s stock.

READ: Auscann Group makes steady progress towards production of cannabinoid medicines

AusCann’s managing director Elaine Darby said: “We believe the company will benefit significantly from the increased global exposure cross-trading will provide us and we look forward to strengthening our international partnerships.

“As regulatory changes are enacted worldwide and the benefits of cannabinoid medicines become more accepted, AusCann is seeing an increasing number of opportunities to expand its global footprint.”

AusCann aims to produce high quality, economical, and clinically validated cannabinoid medicines.

It has a vertically integrated strategy beginning with cultivation and production, through to manufacture and distribution of products.

This is made possible through a number of partnerships with industry leaders such as Canopy Growth Corp and Fundacion Daya.

The company is initially targeting medications for neuropathic and chronic pain in Australia and internationally, a market estimated to be worth $9 billion in Australia alone.

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Wed, 12 Sep 2018 11:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204689/auscann-group-commences-trading-in-the-us-increasing-global-exposure-204689.html
<![CDATA[Media files - Auscann targeting pain management with Australian cannabinoid products ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10365/auscann-targeting-pain-management-with-australian-cannabinoid-products-10365.html Wed, 05 Sep 2018 23:55:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10365/auscann-targeting-pain-management-with-australian-cannabinoid-products-10365.html <![CDATA[News - Auscann Group makes steady progress towards production of cannabinoid medicines ]]> https://www.proactiveinvestors.com.au/companies/news/203946/auscann-group-makes-steady-progress-towards-production-of-cannabinoid-medicines-203946.html Auscann Group Holdings Ltd (ASX:AC8) is continuing to make steady progress towards releasing its first medicinal cannabis products during the financial year 2019.

The company has established several strategic partnerships in Australia, Chile and Canada and is advancing its position as a fully-integrated cannabinoid pharmaceutical company.

READ: AusCann Group well positioned as investors move in on medical cannabis sector

During the year ended June 30, 2018, the company achieved important milestones across its operations, including new agreements, R&D breakthroughs and regulatory advances.

Post FY2018, Auscann raised over $35 million and remains well-funded to continue executing its strategic goals.

READ: Auscann Group raises more capital, well-funded for manufacturing cannabinoid medicines in Australia

AusCann managing director Elaine Darby said: “Progress has been made across all aspects of the company’s operations during this financial year.

“We are now several steps closer to our goal of providing patients with access to high-quality, economical and clinically-validated cannabinoid medicines.

“I’d like to personally thank all shareholders for their continued support and we look forward to delivering on our commitment to releasing our first medicinal cannabis products in 2019.”

READ: AusCann Group pilot study reveals unique capsule for cannabinoid medicines

AusCann aims to produce high quality, economical and clinically validated cannabinoid medicines.

It has a vertically integrated strategy beginning with cultivation and production, through to manufacture and distribution of products.

This is made possible through a number of partnerships with industry leaders such as Canopy Growth Corp and Fundacion Daya.

The company is initially targeting medications for neuropathic and chronic pain in Australia and internationally, a market estimated to be worth $9 billion in Australia alone.

Upcoming ASX Small and Mid-Cap Conference

AusCann will be presenting at the inaugural ASX Small and Mid-Cap Conference being held in Sydney on Thursday, September 6.

To attend the conference, please register here.

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Fri, 31 Aug 2018 16:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203946/auscann-group-makes-steady-progress-towards-production-of-cannabinoid-medicines-203946.html
<![CDATA[News - AusCann Group well positioned as investors move in on medical cannabis sector ]]> https://www.proactiveinvestors.com.au/companies/news/203829/auscann-group-well-positioned-as-investors-move-in-on-medical-cannabis-sector-203829.html AusCann Group Holdings Ltd (ASX:AC8) is set to benefit from growing investor appetite for the medical cannabis sector.

Bloomberg recently reported that US investors are piling into an exchange-traded fund (ETF) known as ETFMG Alternative Harvest ETF which tracks the Canadian cannabis industry.

This comes as the country moves toward legalisation and liquor producers show growing interest in selling cannabis.

The US-listed $436 million cannabis ETF has taken in about $22 million in August putting it on track for the largest monthly inflow since February.

Alcohol giants teaming up with cannabis companies

Recently, alcohol giant Constellation Brands Inc (NYSE:STZ) invested $3.8 billion in Canadian marijuana maker Canopy Growth Corp (NYSE:CGC).

This is the biggest deal to date in what is now a fast emerging industry and has played a key role in turning investors’ attention to the industry.

READ: AusCann Group pilot study reveals unique capsule for cannabinoid medicines

AusCann aims to produce high quality, economical, and clinically validated cannabinoid medicines.

It has a vertically integrated strategy beginning with cultivation and production, through to manufacture and distribution of products.

This is made possible through a number of partnerships with industry leaders such as Canopy Growth Corp and Fundacion Daya.

The company is initially targeting medications for neuropathic and chronic pain in Australia and internationally, a market estimated to be worth $9 billion in Australia alone.

READ: Auscann Group raises more capital, well-funded for manufacturing cannabinoid medicines in Australia

Notably, AusCann raised around $35 million in funding recently through a placement and share purchase plan.

Upcoming ASX Small and Mid-Cap Conference

AusCann will be presenting at the inaugural ASX Small and Mid-Cap Conference being held in Sydney on Thursday, September 6.

To attend the conference, please register here.

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Thu, 30 Aug 2018 08:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203829/auscann-group-well-positioned-as-investors-move-in-on-medical-cannabis-sector-203829.html
<![CDATA[News - AusCann Group pilot study reveals unique capsule for cannabinoid medicines ]]> https://www.proactiveinvestors.com.au/companies/news/203006/auscann-group-pilot-study-reveals-unique-capsule-for-cannabinoid-medicines-203006.html AusCann Group Holdings Ltd (ASX:AC8) has completed a successful pilot study of its final dose form for its proprietary cannabinoid medicines.

Through its research, AusCann has developed a unique effective stable oral dose form which provides consistent and stable dosages of the active cannabinoids.

The study was carried out over the past ten months to be ready for the release of AusCann’s first cannabinoid medicines in first half of 2019.

READ: Auscann Group raises more capital, well-funded for manufacturing cannabinoid medicines in Australia

AusCann’s managing director Elaine Darby said: “AusCann has developed something truly unique in the world of cannabinoid medicines.

“Delivery of consistent and stable products has been an issue that plagues the cannabis medicine industry.

“This new hard capsule will be a game changer for doctors and patients as it is easy to use and will give consistent treatment outcomes every time.

“We are thrilled with the success of this study and look forward to releasing these new pharmaceuticals next year.”

Well-funded to deliver on strategy

Following a placement and subsequent share purchase plan last month, AusCann is well-funded to deliver on its path of developing safe, efficacious, clinically-validated and cost-effective cannabinoid medicines.

Patent lodged for unique capsule dose

Currently, medicinal cannabis is typically administered via oral liquids, liquid sprays, hard or soft-shell gelatin capsules containing cannabinoids dissolved in oils, or inhalation of dried material or extracts.

The main drawback to these formulations is the stability of the active cannabinoids which results in variability in the composition and the efficacy of the formulations.

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Thu, 16 Aug 2018 10:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203006/auscann-group-pilot-study-reveals-unique-capsule-for-cannabinoid-medicines-203006.html
<![CDATA[News - Auscann Group raises more capital, well-funded for manufacturing cannabinoid medicines in Australia ]]> https://www.proactiveinvestors.com.au/companies/news/202535/auscann-group-raises-more-capital-well-funded-for-manufacturing-cannabinoid-medicines-in-australia-202535.html Auscann Group Holdings Ltd (ASX:AC8) has raised about $1.9 million from shareholders via a share purchase plan (SPP) at an issue price of $1.05 per share.

The SPP follows a share placement to institutional and sophisticated investors which raised about $33.4 million.

READ: AusCann Group secures $33.4 million to fund ambitious medicinal cannabis future

AusCann will use the funds raised under the SPP and share placement for the following:

• Clinical studies for product registration in Australia;
• Expansion of an Australian manufacturing plant for final dosage form manufacturing;
• Establishment of a manufacturing facility in Chile;
• Establishment if medical outreach programmes in new international markets;
• Research and development of cannabinoid pharmaceuticals; and
• Costs of the offers and general working capital requirements.

 

AusCann managing director Elaine Darby said: “AusCann thanks all of our shareholders for their support in this share purchase plan.

“It was great to see many of our shareholders taking this opportunity to increase their position in the company.

“We now have sufficient capital for our next stage of growth as we move towards Australian manufacturing of proprietary capsule-based cannabinoid medicines.”

READ: AusCann Group harvests second crop in Chile

Auscann recently completed its second harvest with joint venture partner Fundación Daya in Chile.

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.

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Thu, 09 Aug 2018 11:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202535/auscann-group-raises-more-capital-well-funded-for-manufacturing-cannabinoid-medicines-in-australia-202535.html
<![CDATA[News - AusCann Group to open $8 million share purchase plan this week ]]> https://www.proactiveinvestors.com.au/companies/news/200801/auscann-group-to-open-8-million-share-purchase-plan-this-week-200801.html AusCann Group Holdings Ltd (ASX:AC8) is set to open a share purchase plan (SPP) raising up to $8 million by offering shares priced at $1.05.

The SPP follows the recent share placement which raised $33.4 million in new funding for the company.

READ: AusCann Group secures $33.4 million to fund ambitious medicinal cannabis future

The SPP will open this Thursday and eligible shareholders as of the record date of last Friday will be able to apply for up to $15,000 worth of new shares, subject to scale back.

Table 1: Indicative SPP timetable

AusCann’s managing director Elaine Darby said: “We are very pleased to offer existing shareholders the opportunity to participate in the evolution of AusCann.

“The capital we secure from this raising, along with funds raised under AusCann's recent placement, will enable us to accelerate our corporate objectives and provide Australian and global markets with efficacious, clinically validated and cost-effective medicinal cannabis products.”

Funding applied to multiple fronts

It is intended that funds raised under the SPP will be used as follows:

• Clinical studies for product registration in Australia;
• Expansion of an Australian manufacturing plant for final dose form manufacturing;
• Establishment of a manufacturing facility in Chile;
• Establishment medical outreach programs in new international markets;
• Research and development of cannabinoid pharmaceuticals; and
• Costs of the offer and general working capital requirements.

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Mon, 16 Jul 2018 10:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200801/auscann-group-to-open-8-million-share-purchase-plan-this-week-200801.html
<![CDATA[News - AusCann Group secures $33.4 million to fund ambitious medicinal cannabis future ]]> https://www.proactiveinvestors.com.au/companies/news/200152/auscann-group-secures-334-million-to-fund-ambitious-medicinal-cannabis-future-200152.html AusCann Group Holdings Ltd (ASX:AC8) has raised $33.4 million via a share placement to institutional and sophisticated investors from North America and Australia.

Proceeds will fund cannabinoid pharmaceutical R&D and clinical studies, expansion of its operations in Chile and Australia and medical outreach programs in new international markets.

Efficacious, clinically validated and cost-effective medicinal cannabis products

AusCann’s managing director Elaine Darby said: “We are very pleased to offer both new and existing shareholders the opportunity to participate in the evolution of AusCann.

"The capital we secure from this raising will enable us to accelerate our corporate objectives and provide Australian and global markets with efficacious, clinically validated and cost-effective medicinal cannabis products.”

READ: AusCann Group Holdings to accelerate medical cannabis strategy through master grower appointment

The placement will see 30.4 million shares issued at $1.10 and placement participants will also receive 1 option for every 2 shares subscribed for exercisable at A$1.465 expiring in 30 months.

$8 million share purchase plan to follow

AusCann intends to offer a share purchase plan (SPP) raising up to $8 million to eligible existing shareholders, providing an opportunity for shareholders to purchase shares at the placement price.

This will also provide an extra avenue of funding for AusCann.

Funds to go towards a number of initiatives

It is intended that funds raised under the placement will be used as follows:

• Clinical studies for product registration in Australia;
• Expansion of an Australian manufacturing plant for final dose form manufacturing;
• Establishment of a manufacturing facility in Chile;
• Establishment medical outreach programs in new international markets;
• Research and development of cannabinoid pharmaceuticals; and
• Costs of the offer and general working capital requirements.

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Thu, 05 Jul 2018 11:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200152/auscann-group-secures-334-million-to-fund-ambitious-medicinal-cannabis-future-200152.html
<![CDATA[News - AusCann Group halts shares ahead of capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/199988/auscann-group-halts-shares-ahead-of-capital-raising-199988.html AusCann Group Holdings Ltd (ASX:AC8) has been granted a trading halt by the ASX pending the release of information regarding a capital raising.

Shares in the company will remain halted until the earlier of the release of the relevant information or the commencement of trading on Thursday.

READ: AusCann Group Holdings to accelerate medical cannabis strategy through master grower appointment

Last week AusCann outlined that it intended to accelerate its Australian medical cannabis manufacturing operation through the appointment of Canadian Luke Pigeau as master grower.

Pigeau, who was appointed following an extensive global search, will oversee AusCann’s Tasmanian Alkaloids cultivation operation in Tasmania.

The appointment is complemented by the company entering into a research and development agreement with Canadian group Jade Cannabis.

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Tue, 03 Jul 2018 11:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199988/auscann-group-halts-shares-ahead-of-capital-raising-199988.html
<![CDATA[News - AusCann Group Holdings to accelerate medical cannabis strategy through master grower appointment ]]> https://www.proactiveinvestors.com.au/companies/news/199438/auscann-group-holdings-to-accelerate-medical-cannabis-strategy-through-master-grower-appointment-199438.html AusCann Group Holdings Ltd (ASX:AC8) intends to accelerate its Australian medical cannabis manufacturing operation with the appointment of Canadian Luke Pigeau as master grower.

Pigeau, who was appointed following an extensive global search, will oversee AusCann’s Tasmanian Alkaloids cultivation operation in Tasmania.

The appointment is complemented by the company entering into a research and development agreement with Canadian group Jade Cannabis.

READ: AusCann Group harvests second crop in Chile

AusCann managing director Elaine Darby said: “We are delighted to have appointed Mr Pigeau as master grower with oversight of our Australian cultivation operations.

“Luke brings a wealth of experience to the role, and in conjunction with the research being done by Jade Cannabis, will ensure that AusCann and Tasmanian Alkaloids can maximise yields from our joint operation.

“We have elected to find an innovative growing partner and then provide them with some of the best technical expertise we can to support the development of a great system.”

READ: AusCann Group Holdings' receipt of cannabis oils from Canopy Growth is imminent

AusCann is bringing together leading expertise and operations across all aspects of the medical cannabis value chain, beginning with cultivation and production, through to manufacture and distribution of products.

AusCann's vertically integrated business model.

Pigeau has more than 10 years’ cannabis cultivation experience and initially worked under Canada’s first cannabis licensing program.

He honed his skills and worked diligently to become a valued asset in Canada’s commercial licensed producer regime for companies like Agripharm and Mettrum Health Corp.

Jade Cannabis engaged

To complement the appointment, AusCann has engaged Jade Cannabis to undertake research and development work at its Canadian facility for an initial three-year period.

Going forward, the agreement will see AusCann’s medical cannabis genetics supported by cannabis cultivation systems piloted and implemented by Jade Cannabis.

This research is aimed at obtaining greater yield per square metre of grow room in a given period, resulting in more cost-effective cannabinoid pharmaceuticals for patients.

Optimising cultivation system

The output of this research will include the development and optimisation of the AusCann cultivation system.

AusCann is also working with Jade Cannabis on the design and construction of prototype scale cultivation equipment.

Pilot-scale experiments have demonstrated substantial increases in yield when compared with current indoor cultivation approaches.

This grow system orientated research complements Australian-based research in genetics and plant breeding.

Extensive cultivation experience

The founders of Jade Cannabis have extensive experience in cannabis cultivation.

Co-founder Kenneth Langford also co-founded The Peace Naturals Project, now Peace Naturals, the first commercially licensed medical cannabis company in Canada in 2011.

As Peace Natural’s chief innovation officer, he developed a commercial schedule that was able to harvest a crop every two weeks from four flowering rooms.

Another Jade Cannabis co-founder Martin Beya has had almost two decades of experience in licensed medicinal cannabis production and is an expert fabricator of Jade Cannabis' ingenuity.

Incorporated in 2014, AusCann is the only ASX-listed company with the full set of necessary licences to grow and manufacture cannabinoid medicines in Australia.

The company is initially targeting medications for neuropathic and chronic pain in Australia and Chile while exploring global export opportunities.

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Mon, 25 Jun 2018 09:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199438/auscann-group-holdings-to-accelerate-medical-cannabis-strategy-through-master-grower-appointment-199438.html
<![CDATA[News - AusCann Group harvests second crop in Chile ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://www.proactiveinvestors.com.au/companies/news/180640/auscann-group-holdings-ltd-secures-two-licences-180640.html
<![CDATA[News - AusCann Group Holdings makes new appointments ]]> https://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 https://www.proactiveinvestors.com.au/companies/news/179279/auscann-group-holdings-makes-new-appointments-179279.html
<![CDATA[News - AusCann Group Holdings welcomes regulatory change ]]> https://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 https://www.proactiveinvestors.com.au/companies/news/179186/auscann-group-holdings-welcomes-regulatory-change-179186.html
<![CDATA[News - AusCann Group Holdings secures medical cannabis funding ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://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 ]]> https://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 https://www.proactiveinvestors.com.au/companies/news/168785/tw-holdings-ltd-auscann-deals-into-medical-cannabis-production-exposure-in-chile-168785.html