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THC Global processes first farm-to-pharma medicinal cannabis at Southport Facility

This represents a major milestone for THC Global and the Australian industry with the largest facility in the Southern Hemisphere now producing.

THC Global Group Ltd - THC Global processes first farm-to-pharma medicinal cannabis at Southport Facility
CEO Ken Charteris with the first Canndeo branded bottled product from the Southport Facility

THC Global Group Ltd (ASX:THC) has completed the first farm-to-pharma processing of Australian medicinal cannabis at its Southport manufacturing facility in Queensland.

This represents a major milestone for the company signifying the start of production activities and for Australia’s medicinal cannabis industry with the largest facility in the Southern Hemisphere now in production.

Shares are up 10% to an intra-day high of 41 cents.

Path to commercial scale-up

It lays the path for the company to scale-up its cultivation and extraction activities through 2020.

The facility is expected to be capable of 120,000 kilograms of annual cannabis biomass throughput with whole plant extraction.

First product from the Southport Facility was completed using the company’s proprietary Australian high-CBD cannabis strain.

The company’s CEO Ken Charteris said, “THC Global’s medicinal cannabis team have achieved a major milestone today both for the company and for the Australian medicinal cannabis industry by producing our first farm-to-pharma medicinal cannabis at our Southport Facility, in advance of our commercial-scale launch next year.”

Farm-to-pharma model validated

Having taken cannabis plant material cultivated at the THC Global’s Bundy Facility, through to production of a final bottled and packaged product, THC Global has validated its farm-to-pharma operation capability.

THC Global’s ‘Canndeo’ brand will be used globally to market its Australian produced medicinal cannabis medicines from the Southport Facility.

A Schedule 4 CBD oral liquid medicine product will be initially launched followed by additional CBD-THC formulated products later in 2020.

Samples of THC Global’s first Canndeo branded medicinal cannabis medicines, produced at the Southport facility.

The large-scale production capacity THC Global has in both cultivation and extraction will allow the company to supply Australian patients with Australian medicinal cannabis products.

It will also open the opportunity for global partnerships for THC Global to provide cultivation and extraction services to partners.

Licences granted

The company has also been granted import and export licences and permits from the Australian Office of Drug Control.

This allows companies around the world to supply biomass and strains to THC Global to grow and process and also enables THC to export medicinal cannabis from the Southport facility.

Charteris said, “THC Global has ready-to-go production assets within Australia capable of servicing over 250,000 patients in addition to the global export market, making THC Global a leader in the Australian medicinal cannabis industry, and in prime position to be a global exporter of Australian medicinal cannabis medicines.”

Local and export markets

The Southport facility is capable of producing TGA certified pharmaceutical GMP finished product, enabling the company to supply its medicinal cannabis products to patients in Australia, as well as service the global export market.

THC Global is well-positioned to benefit from the future of medicinal cannabis in Australia and globally, having secured world-class production facilities.

These enable the company to explore a stronger focus on value-add extraction capabilities, in addition to continuing to expand its farm-to-pharma cultivation, processing and manufacturing capabilities.

THC Global operates under a ‘Farm to Pharma’ pharmaceutical model, holding all key cannabis licences - Cannabis Research Licence, Medicinal Cannabis Licence (Cultivation) and two Manufacture Licences - through domestic subsidiaries THC Pharma and Canndeo.

Canadian presence

In addition to its core Australian medicinal cannabis assets, THC Global has a significant Canadian presence.

Hydroponics equipment division Crystal Mountain is a revenue-generating manufacturer, wholesaler and retailer of hydroponics equipment and supplies for cannabis cultivation.

THC Global also owns Canndeo Canada, a holder of property in Nova Scotia, Canada, being developed into a large-scale cannabis production site.

Quick facts: THC Global Group Ltd

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THC Global starts manufacturing at Southport facility after green light from...

THC Global Group Ltd’s (ASX:THC) group chief executive officer Ken Charteris updates Proactive after the company received a key medicinal cannabis manufacture permit for its Southport facility from the Australia regulator, allowing production to start immediately. Charteris says this is...

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