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THC Global director supports medicinal cannabis strategy through on-market purchase

Non-executive director Lou Cattelan acquired shares valued at almost $10,000 and now holds 244,469 shares in an indirect interest.

THC Global Group Ltd - THC Global director supports medicinal cannabis strategy through on-market purchase
The company this month completed Australia’s first farm-to-pharma processing

THC Global Group Ltd (ASX:THC) director Lou Cattelan has shown his faith in the company’s farm-to-pharma medicinal cannabis strategy through an on-market share purchase.

On December 11, 2019, the non-executive director acquired almost 26,000 fully paid ordinary shares at 38.5 cents per share with the transaction valued just shy of $10,000.

Cattelan now holds 244,469 THC Global shares in an indirect interest.

Start of production

Earlier this month THC Global completed the first farm-to-pharma processing of Australian medicinal cannabis at its Southport manufacturing facility in Queensland.

This signified the start of production activities at the largest facility in the Southern Hemisphere and also laid 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.

Canndeo brand

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.

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.

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