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THC Global in trading halt ahead of first medicinal cannabis production at Southport

The halt will be in place until Wednesday, December 4, or when an announcement is released to the market.

THC Global Group Ltd - THC Global in trading halt ahead of first medicinal cannabis production at Southport
The company expects to reduce R&D costs with its Southport analytical lab

THC Global Group Ltd (ASX:THC) is in a trading halt pending an announcement regarding completion of the first medicinal cannabis production at the company’s Southport Manufacturing Facility in Queensland.

The trading halt will remain in place until the start of normal ASX trading on Wednesday, December 4 or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 37 cents and before the halt traded in the range of  36.5 to 38.5 cents.

Key Southport manufacturing approval received 

The company last month received a key approval to begin manufacturing at the Southport facility on Queensland's Gold Coast.

The group, previously known as The Hydroponics Company Ltd, has received an Australian Office of Drug Control (Australian ODC) manufacture permit for the facility where it can make medicinal cannabis.

This facility can support a minimum of 250,000 Australian patients with affordable Australian produced medicines as well as supplying the global export market.

Australian Health Minister Greg Hunt opened the facility pharmaceutical manufacturing facility in August 2019. 

Quick facts: THC Global Group Ltd

Price: 0.205 AUD

Market: ASX
Market Cap: $28.86 m

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