The Hydroponics Company (ASX:THC) chief executive Ken Charteris explains to Proactive Investors the company’s international, vertically-integrated operations in both the hydroponics and medical cannabis sectors.
The company has made rapid advancements into the medical cannabis space, thanks in large part to numerous strategic alliances with significant global operators, and key acquisitions. Charteris explains, “now we have a medical cannabis company with the largest manufacturing plant in the southern hemisphere, thanks to a recent acquisition from a major pharmaceutical company. We have a fully-licensed growing facility in Bundaberg. We just recently [gained] the rights to another growing facility in northern New South Wales. As everybody understands, the sector in Australia is still in its development stages for patient applications, however the opportunity to export… brings a great amount of opportunity for this company.”
As of July 23rd, the first product will be available to doctors to prescribe under Special Access Scheme in Australia. With the licensing process on the manufacturing plant in the final stages now, the company is looking to commence exports of pharmaceutical-grade cannabis by Q1 next year. Charteris says, “we’re sort of like the gorilla in the room that people didn’t see coming… the asset base and team have been built to support that.”
“We actually are now really a truly international medical cannabis company, but we should not forget our roots as a hydroponics company out of Canada, which we are building out with more alliances which we will be reporting shortly,” teases Charteris.