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The first company in Australia to receive a cannabis cultivation license has been given the official go-ahead to start growing the country’s first major domestic crop of medicine.
Cann Group Australia was granted a permit by the Office of Drug Control in February to grow medical marijuana at an undisclosed location in Melbourne. The company has been on a high for a few months since being issued the official papers, as well as listing on the Australian Stock Exchange (ASX) earlier this month.
The ASX listing came after Cann Group successfully raised $13.5 million in capital. Much of that investment came from Canadian marijuana giant Aurora Cannabis who acquired a 19.9 percent stake in the burgeoning Australian cultivator.
The first Australian buds are expected to be ready this August to the benefit of Aussie patients. The permits allow this pioneering producer to breed plants for propagation, supply them for manufacturing into medical products, and conduct research to develop extracts.
Patients will be able to access the medicine by either getting involved in clinical trials or by obtaining it through prescription using Australia’s Therapeutic Goods AdministrationContinue reading at Marijuana.com
