ASX Cannabis Space - A Favorite In Non-Resources

  • Oct 25, 2018 AEDT
  • Team Kalkine
ASX Cannabis Space - A Favorite In Non-Resources

Bod Australia has sold its first medical cannabis prescription in Australia, Cann Group has hit a deal with the national science agency CSIRO, and BPH Energy is raising money to invest in marijuana. In the growing marijuna industry, all these announcements come on the back of a busy period.

Cann Group — as at October 25, 2018 told investors it had signed a three-year research deal extension with CSIRO, which has been quiet for the past two months. For use in the commercial manufacture and sale of medicinal cannabis products, technology development activities are undertaken.

At its Melbourne Airport project to hear more about progress on Cann’s major building works, investors were apparently anxious or indeed any commercial activities the company might be engaging in. The stock of Cann Group was down by 13 percent to $2.19 at noon AEST. Cann shares in the last 12 months have witnessed a performance change of 68.56%. 

Of a drug using the full cannabis plant spectrum, after an announcement the milestone comes that it’s running the world’s first double blind clinical trial of the pharmacokinetics. To use medical cannabis in Australia, just 1441 people have been approved and a large chunk of the unlisted and listed players in the sector are fighting for their money.

Backed by cannabis investor MMJ (ASX: MMJ), Bod is also partnering with the operator of Cannabis Access Clinics. The effects of Bod’s cannabis oil on the usual line-up of illnesses, research deal with Biologics Research Institute Australia will study and also once clinical trials are done offer their wafer through the clinic network.

Earlier this year, Cannabis Access Clinics came under fire to provide easier access to a single drug from doctors unimpressed with the fact that it is set up solely. Shareholders in BPH Energy, is focusing on developing new business and is no longer scrapping with investor MEC Resources.

An area that broadly fits with its oil and gas plus biotech portfolio, the new business also appears to include cannabis. The UK and the Canadian recreational, BPH said it was looking at the area, mentioning exports, which could point where its interests lie though it hasn’t made firm plans yet.

To instill interest in their share price, companies have very often used Cannabis and blockchain as two non-resources areas. A share price spike from 0.1c to 0.3c, BPH claimed that it could have been the result of its cannabis investigations.


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