LGC Capital (TSXV:LG) announced its Australian investee, Little Green Pharma, completed the second harvest of commercial medical cannabis crop.
As quoted in the press release:
This quarter, LGP successfully achieved another milestone having produced Australia’s first locally grown medicinal cannabis product as well as making its first commercial sales to Australian patients.
LGP has also commenced negotiations with German parties for exporting Australian products. LGP sees potential exports to Germany as being a crucial building block for the business going forward and plans to finalize negotiations within the month, which will be a catalyst for the expansion plan.
Fleta Solomon, Little Green Pharma’s Managing Director commented; “The proposed site will include a GMP manufacturing facility and can be built in a staged approach, with a first stage of 100,000 square feet being planned. Although the primary focus is Australian patients, the export market has been accounted for in this proposed build.”
John McMullen, LGC’s CEO, commented: “Our partner in Australia has achieved a great deal in a short timeframe in a highly regulated environment. We are particularly pleased that Little Green Pharma has started suppling Australian patients with premium-grade medical cannabis and are now involved in cancer trials.”