THC Global Quarterly Update & Appendix 4C
Sydney, July 31, 2019 AEST (ABN Newswire) - THC Global Group Limited (THC Global or the Company) (
ASX:THC) (9TH:FRA) (HDRPF:OTCMKTS) is pleased to provide an update on the Company's activities, as well as the Appendix 4C for the quarter ended 30 June 2019.
Key Points:
- THC Global holds the full suite of cannabis licences in Australia including two Manufacture Licences for two facilities - one being for the largest bio-pharma extraction facility in the Southern Hemisphere
- Southport Facility capable of producing initial 12,000kg of GMP API isolates and extracts
- Expecting to complete product validation in Q4 2019 followed by supply into Australian and Asian study trials and clinical trials in early 2020
- Hydroponics equipment division achieved maiden unaudited profit for half year to 30 June 2019
- Key appointments in Australia and Canada in lead up to significant expansion of activities in near term
- End of quarter cash balance of $5.68 million
To view the quarterly report, please visit:
http://abnnewswire.net/lnk/4G3C922V
About THC Global Group Limited
THC Global Group Limited (ASX:THC) (OTCMKTS:HDRPF) (FRA:9TH) operates under a 'Farm to Pharma' pharmaceutical model, now holding all three key cannabis licences being a Cannabis Research Licence, a Medicinal Cannabis Licence (Cultivation), and a Manufacture Licence through its domestic medicinal cannabis subsidiaries THC Pharma and Canndeo. THC Global has secured a significant cannabis growing capacity over multiple cultivation projects and owns a pharmaceuticals bio-manufacturing facility with attached testing and product development laboratory. THC Global is in prime position to commence medicinal cannabis production to service both domestic patients and the global export market. THC Global is active globally with operations in Australia, New Zealand, and Canada and partnerships across Europe, Asia, and the Middle East. In addition to its core Australian medicinal cannabis assets, THC Global has a significant Canadian presence – both in cannabis and in hydroponics equipment. THC Global's Canadian cannabis operation, Vertical Canna, holds property in Nova Scotia, Canada being developed into a large scale cannabis production site. THC Global's hydroponics equipment division, Crystal Mountain, is a revenue generating manufacturer, wholesaler, and retailer of hydroponic equipment and supplies.
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