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THC Global Group Ltd

THC Global to exclusively import CBD products into New Zealand

THC Global has expanded into New Zealand's medicinal cannabis market.

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Endoca’s unique CBD and CBD+CBDa products will be imported into New Zealand

THC Global Group Ltd (ASX:THC) has secured exclusive rights to import Endoca’s cannabidiol (CBD) products from Europe into New Zealand.

Furthermore, it has established a supply chain to patients through a strategic partnership with DATAPHARM.

THC Global has been advised by Endoca that they have received strong interest from over a thousand patients in New Zealand seeking their product.

READ: THC Global Group completes name change from The Hydroponics Company Ltd

THC Global’s CEO Ken Charteris said: “We look forward to our first orders in New Zealand in the coming weeks as we continue to expand our global footprint in the medicinal cannabis market, both in the Asia Pacific and in North America.

“The expansion into New Zealand represents the next step in the development of THC Global as a significant participant in the global medicinal cannabis market.”

Other cannabis-based medicine costs $14,000 per year

The only other MedSafe approved cannabis-based medication in New Zealand currently costs patients $14,000 per year.

THC Global anticipates supplying Endoca CBD products to New Zealand patients at a substantially lower price, addressing a major barrier to patient uptake, and increasing accessibility for patients.

Favourable regulatory conditions to support revenue growth

THC Global has identified New Zealand as an attractive market due to favourable regulatory conditions.

New Zealand regulations allow products with over 98% CBD such as the Endoca range to be prescribed by medical practitioners including GPs without the need for special authorisation as is required in Australia.

The company expects that this will result in rapid revenue generating sales as the company commences supply to patients in New Zealand.

The company’s operating subsidiary in New Zealand, THC Pharma (NZ) Limited will commence importing once permits are received, which are being sort on an expedited basis.

Quick facts: THC Global Group Ltd

Price: $0.48

Market: ASX
Market Cap: $65.15 m
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THC Global obtains manufacturing licence for Southport cannabis facility

THC Global Group Limited (ASX:THC) chief executive officer Ken Charteris talks to Proactive Investors about receiving a medicinal cannabis manufacturing licence at its large Southport manufacturing facility on Queensland's Gold Coast. The licence is required for the commercial production...

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