ASX-LISTED The Hydroponics Company (THC) has signed a Letter of Intent with Canada's Ascent Industries to share both product and knowledge to collaboratively grow both businesses.
The Canadian company is already supplying 20,000kg of dried cannabis flower and up to 6,000kg of cannabis trim per year to Canadian cannabis group Aurora.
Under the agreement, both companies will have access to each other's strains of cannabis, developed separately over the years, on a royalty free basis.
THC will also be able to supply Ascent with medicinal cannabis product out of its biomanufacturing facility at Southport, previously owned by Leo Pharma, and one of the largest pharmaceutical botanicals extraction/refinement plants in the southern hemisphere.
Commenting on the agreement, THC's chairman Steven Xu said the agreements ensure both companies have access to "the best medicinal cannabis stock available."
The above article was sent to subscribers in Pharmacy Daily's issue from 29 Jun 18
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