LISTED medicinal cannabis firm Cann Group has announced a $60 million capital raising in order to establish a 16,000 square metre facility to grow marijuana.
The expanded cultivation/production area is part of revised plans following an assessment of the market opportunity and the "prospect of Australian cannabis producers being approved to export product into overseas markets".
The new development will incorporate glasshouse cultivation space, research and development laboratories and a GMP manufacturing facility, and is projected to cost up to $45 million.
Subject to planning permits and other approvals, it is forecast to be up and running in the first half of 2019, with Cann Group ceo Peter Crock saying "as the Australian industry continues to develop we expect to see a steady increase in demand for safe, quality and innovative medicinal cannabis treatments."
The above article was sent to subscribers in Pharmacy Daily's issue from 01 Dec 17
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 01 Dec 17
