Melbourne-based Cann Group Limited (ASX: CAN) is the first Australian company to be issued with cultivation licenses for both medicinal supply and research purposes under the Federal Government’s regulatory system.
The Melbourne-based cannabis company has been granted one medicinal cannabis permit and two cannabis research permits which will allow it to legally grow breeding plants to be used for research and medicinal cannabis products.
The first cannabis plants are expected to be harvested by August 2017.
“We now have the necessary funding to complete our expansion program and continue with evaluation of strains for production and our breeding program and other development activities,” says Cann CEO Peter Crock.
Medicinal cannabis can be used to treat chronic pain, the effects of terminal illness and can ease muscle spasticity and provides relief for patients suffering cancer, epilepsy, HIV and arthritis.
Cann Group is just one of a group of eight major pot stocks on the ASX who are also making in roads in the medicinal cannabis space in Australia.
Read the full article on canngrouplimited.com