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Australia-based THC Global Group Limited (ASX: THC) operates under a ‘Farm to Pharma’ pharmaceutical model (Vertically Integrated) and now holds all 3 Key Cannabis Licences, through its domestic medicinal cannabis subsidiaries THC Pharma and Canndeo, including:
- A Cannabis Research Licence;
- A Medicinal Cannabis Licence (Cultivation); &
- 2 Manufacture Licences.
THC Global’s largest pharmaceutical bio-floral extraction facility in the Southern Hemisphere - the Southport Manufacturing Facility, makes the company a leader in the Australian medicinal cannabis industry and also a prominent cannabis focused health care company on the global front.
First Medicinal Cannabis Processed
On 4 December 2019, the company reported to have completed the first farm-to-pharma processing of medicinal cannabis at the Southport facility, in advance of supplying to over 250,000 Australian patients.
This marks a major milestone for both THC Global, depicting the start of its production activities, and for the Australian medicinal cannabis industry, wherein THC Global will now be offering medicinal cannabis on a large scale from its Southport manufacturing facility.
The facility is licenced and permitted, including holding Schedule 8 controlled substances and Schedule 4 pharmacy medicine licences. The manufacture permit from the Australian Office of Drug Control was received around early November 2019.
THC Global was able to successfully take cannabis plant material cultivated at its Bundy Facility, through to production of a final bottled and packaged product, which validates the facility’s operation capability based on the ‘Farm to Pharma’ pharmaceutical model. The company used its proprietary high-cannabidiol (CBD) cannabis strain (Australian) to finalise the maiden production.
This milestone has paved way for THC Global to further expand its cultivation and extraction processes throughout the next year 2020. The brand name ‘Canndeo’ will be used for marketing medicinal cannabis products into Australia as well as around the world, resulting in bigger partnership opportunities for THC Global to provide its services. Initially, the company plans to roll out a Schedule 4 CBD oral liquid medicine product, with further CBD-THC formulated products planned for roll out in the later part of 2020.
With a capacity to produce and deliver TGA certified pharmaceutical GMP finished products, THC Global’s Southport Facility would allow the company to not only serve patients in Australia but also cater to the global markets.
THC Global is focused on delivering low cost, high quality cannabis products. Moreover, the company is well-positioned to significantly capitalise on the current and upcoming opportunities being presented by the burgeoning global medicinal cannabis industry, on the back of its world-class production facilities, value-add extraction capabilities at the Southport Facility, along with continuous efforts to expand farm-to-pharma cultivation, processing, and manufacturing capabilities.
In addition to its core Australian medicinal cannabis assets, THC Global has quite a presence in Canada with its division, Crystal Mountain operating as a manufacturer, wholesaler, and retailer of hydroponics equipment, generating impressive revenue.
THC Global also owns Canndeo Canada, which holds a property being developed into a large-scale cannabis production site in Nova Scotia, Canada.
Import and Export Licences
THC Global also confirmed that on 3 December 2019 the company was granted import and export licences from the Australian Office and Drug Control, allowing for the import of cannabis to be processed at the Southport Facility, as well as export of the final product from the same facility.
Stock Performance: THC Global Group has a market capitalisation of around AUD 50.57 million and ~ 136.67 million shares outstanding. The THC stock was trading at AUD 0.410 on 4 December 2019 (AEST 01:40 PM), up 10.811%. The stock has also delivered a positive 1-month return of 19.35%.
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