Bundy cannabis company's green light for more manufacturing
THC Global Group Limited has been met with another green light with approval to manufacture for its Southport Manufacturing Facility.
The approval comes less than a month after THC Global announced that the Bundaberg research facility, operated by Canndeo, was awarded a manufacturing licence for medicinal cannabis.
With the two facilities now approved for manufacturing, the company is ensuring they have enough product to fill them.
Bundaberg grower John Hall said the Southport manufacturing licence meant they would have to expand activity to produce more product to feed that factory.
The company has also secured additional property in Northern New South Wales that it will develop into a large-scale organic cannabis cultivation facility of up to 150,000sq m.
CEO Ken Charteris made the trip to Bundaberg in June to discuss the licence approval for Bundaberg, stating that they had been on stand-by for 18 months waiting for their licence and once granted it would be like a "military operation" as they moved to the next level.
Mr Charteris said the manufacturing licence for Southport was a significant milestone for the company.
"The manufacture licence we have now received is the most significant manufacture licence granted in Australia to date, as THC Global has the largest bio-pharma extraction facility in the Southern Hemisphere," he said.
"We are ready to commence GMP API production of medicinal cannabis at globally significant volumes and at very competitive prices.
"We expect to be supplying Australian patients with Australian produced medicinal cannabis by early 2020, as well as responding to the rapidly expanding global demand for pharma-grade GMP API isolates and formulated medicines."
THC Global has estimated that the initial annual production from the Soutthport Manufacturing Facility will be more than 12,000kg of good manufacturing practices compliant active pharmaceutical ingredient isolates, or equivalent quantities of full and broad spectrum extracts.
The company has also advised it intends to be able to produce proprietary finished medicines from these isolates and extracts, such as tinctures, oils, and capsules.
For more information, visit https://thc.global.