Little Green Pharma (ASX:LGP) sends first shipment of cannabis to Germany

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Little Green Pharma (ASX:LGP) sends first shipment of cannabis to Germany

Little Green Pharma Ltd (ASX:LGP) announced on 5 February 2021 that it has dispatched and exported the first commercial shipment of cannabis flower medicines to Deutsche Medizinalcannabis GmbH (DEMECAN). 

Following are the major highlights from the ASX release:

  • The initial shipment features 500 units of 15 grams each of high-THC cannabis flower medicines.
  • The shipment will arrive in Germany this week and on the arrival, the shipment will be batch-tested before being released in the market in Germany.
  • There has been a careful 12-month audit and qualification process between the Company and DEMECAN’s quality prior to this export activity.
  • This activity makes LGP the second cannabis producer that does not need its cannabis flower medicines to be irradiated.
  • It should be noted that as per the cannabis purchase agreement, Little Green Pharma has to send up to 1,000 kg of dried cannabis flower or around 48,000 units of LGP Classic medicinal cannabis oil product or any other combination to DEMECAN on a yearly basis.
  • The agreement is for three years.
  • The cannabis flower is cultivated in an indoor cultivation and manufacturing facility in South Western Australia under Good Agricultural & Collection Practices (GACP).

It should be highlighted that the German cannabis market is the biggest medicinal cannabis market in Europe and is expected to touch $12.22 billion by 2028.

Meanwhile, the stock was noted at $0.935 per share, with market capitalisation at $129.20 million.

 

 

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