Cann Group Completes Trifecta: Receives Cannabis Manufacturing License

 
 

Cann Group (ASX:CAN) finally has access to a cannabis manufacturing licence, completing the trifecta for the company.

The pot stock will be working through IDT Australia (ASX:IDT), an Australian pharmaceuticals manufacturer which is the recipient of the licence.

Only a handful of other companies have all three licences from the Office of Drug Control which allow them to research cannabis, grow it, and manufacture products from it.

The others include AusCann (ASX:AC8), the first listed company to receive all three, Little Green Pharma in West Australia and MediFarm in Queensland.

Of the listed companies, only Cann has a growing permit — the permission slip that dictates what a company can grow, when, and what it can do with it. This is the final hurdle for actually growing marijuana legally in Australia.

IDT will be allowed to make the resins Cann wants to sell to companies such as AusCann as well as make final dose forms such as tinctures, liquids and tablets.

Cann linked up with the pharmaceuticals maker in August last year.

At the time IDT CEO Dr David Sparling told Stockhead its small market cap shouldn't belie its experience as a pharmaceuticals manufacturer — the company has been around since 1975.

 

 

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Louis O'Neill
Louis O'Neill

Louis is a writer based in Sydney with a focus on social and political issues. Having interviewed local politicians and entrepreneurs, Louis now focuses on cannabis culture, legislation & reform.

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