Cann Group Ltd (ASX: CAN) was granted a license to import and export medicinal cannabis products and cannabis genetics, by the Office of Drug Control, Australian Department of Health.
With this license, Cann Group can now apply for a new permit to export raw cannabis material and cannabis oil for analytical testing. If approved, the company will work with Anandia Laboratories in Canada, as they believe this will complement the capabilities available to Cann in Australia.
Cann is also working with Aurora Cannabis along with Anandia Laboratories to identify suitable genetics and medical cannabis products for inclusion in an import permit application.
This license also allows the company to apply for a permit to import medical cannabis products and cannabis genetics from international legal sources.
Next steps for Cann is to submit an application with Health Canada to facilitate the process of obtaining export approvals.
About Cann Group
Cann Group’s mission is to become a leading developer and supply of cannabis, cannabis resin and medical cannabis products. They have already established R&D and cultivation facilities in Australia.
To help propel their path, they also have executed collaboration agreements that give them a leading position in plant genetics, breeding, cultivation extraction, analysis, and production techniques.
Making Moves in 2017
In February 2017, the Cann Group was issued Australia’s first Medicinal Cannabis Research License issued following the Narcotic Drugs Act 1967. The license will enable Cann to cultivate medical cannabis and conduct research on the use of cannabis for medicinal purposes.
In March 2017, Cann was issued Australia’s first Medicinal Cannabis Cultivation Licence. The new license allows Cann Group to produce Australian grown material that can be prescribed for patient use.
Also, Aurora Cannabis Inc. announced that they secured 19.9% stake in Cann Group, in the initial public offering (“IPO”) of Cann Group Limited (“Cann Group”) on the Australian Stock Exchange (“ASX”).
In July 2017, Aurora Cannabis Inc. and Cann Group Limited announced a technical services agreement, which facilitates an exchange of information and support across areas including the cultivation and processing; extraction and manufacturing technology; and analysis of cannabis extracts.
In August 2017, Cann Group Limited executed a licensing and distribution agreement with CannaKorp, Inc. This deal allows Cann Group to import and sell CannaKorp’s proprietary vaporizing system (System) as well as securing the right to produce the medicinal cannabis pods associated with the device.
A significant milestone for Cann Group
The new license is an essential milestone for Cann Group as they build a genetic database of cannabis strains sourced locally and internationally sourced for cultivation. The import and export license is also crucial for the company’s plan to import medical cannabis products to Australia to complement locally manufactures products.
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