THC Global Group Limited (ASX: THC) operates as a pharmaceutical company. The company develops cannabis, as well as focuses on the manufacturing and distribution of hydroponics equipment, materials and nutrients. THC Global Group serves customers in Australia.
The company today, on 5th April 2019, has updated that it has finished a significant step in its Asian Markets Strategy. This has been accomplished through securing a mutually exclusive partnership with Malaysia based agri-tech firm, Heleogenics. This pact with Heleogenics is primarily to mediate with the Government of Malaysia for the purpose of the legalisation of the cannabis for medicinal purposes. This initiative will also include the advancement of policy blueprint and legislation. The company will work with Heleogenics to additionally explore other nations within the Asian continent and the regions of the Middle East, where there might be viable opportunities to enter the medicinal cannabis market. This partnership involves discovering the agri-tech knowledge & experience in the plant genomics of Heleogenics, along with the firm’s expertise and intellectual property rights in medicinal cannabis space.
Dr. Arif Anwar, Executive Director of Heleogenics, has commented that the management of Heleogenics is elated to be working closely with the company towards delivering medicinal cannabis in the Asian region. Heleogenics will also be working on the R&D within the sector, leveraging the company’s experience in farming for medicinal use.
Mr. Ken Charteris, CEO of the company has said that working with the Heleogenics team, who are considered as the leaders in the biotech and agri-tech sector inside Asia is slated to bring a whole lot of knowledge and experience in the areas of government liaisoning space as well as for the expansion of the company’s R&D potential.
He further added that locking into partnerships with well-known businesses like Heleogenics inside Asia will help them to enter markets in a faster manner as soon as legislative changes are made. This will subsequently ensure the first-to-market approach with substantially lower capital outlay than operating exclusively. Heleogenics is related with Sengenics. Sengenics is an international medical biotech company and its operations are predominantly focussed on proteomics for medical diagnostics and the advancement of novice therapies.
The company’s Asian Markets Strategy is meant to enter into collaborations with the market leaders in the complementary industries across the key Asian markets. This strategy would be based on a local approach that is most likely to bring success by leveraging the local knowledge, Intellectual Property, and technology.
On the stock-performance front, the stock has posted the YTD return of 18.09%. The company also has posted a return of 5.71% over the past six months. At market close on 5th April 2019, the stock of the company was trading at a price of A$0.57, up 2.703% during the day’s trade with a market capitalisation of ~A$70.89 million. The stock opened the trading day at A$0.580, which was also its intraday high, and touched an intraday low of A$0.565, with a daily volume of 213, 459. It had a 52-week high price of A$0.790 and a 52-week low price of A$0.415, with an average volume of 170,538.
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