Half Yearly Report and Accounts
Sydney, Sep 2, 2019 AEST (ABN Newswire) - THC Global Group Limited (
ASX:THC) (9TH:FRA) (HDRPF:OTCMKTS) operates under a 'Farm to Pharma' pharmaceutical model and is currently delivering high quality medicinal cannabis products to Australian patients through existing access schemes.
Having secured both a significant growing capacity over multiple proprietary cultivation sites, and an industry-leading pharmaceuticals biomanufacturing facility with attached testing and product development laboratory, THC Global is in prime position to service both domestic patients and the global export market. THC Global's commercial partners operate across four continents, supporting future international growth.
In addition to its core medicinal cannabis business, THC Global owns two Canadian companies, being Crystal Mountain Products and Vertical Canna. Crystal Mountain Products operates a revenue generating global hydroponics retailer and distributor of equipment, material, and nutrients to cannabis growers and producers.
THC Global intends to build through Vertical Canna Inc, through acquisitions and strategic partnerships, a vertically integrated Canadian cannabis producer and retailer.
Review of Operations
Highlights
- THC Global now the holder of a full suite of cannabis licences in Australia enabling a Farm to Pharma production model
- Manufacturing Licence held for the largest bio-pharma extraction facility in the Southern Hemisphere
- Secondary Manufacturing Licence also held for the Company's Bundaberg R&D Facility which will enable small scale extraction and manufacture for product development
- Confirmed initial expectation of producing 12,000kg of Good Manufacturing Practice certified Active Pharmaceutical Ingredient isolates as well as full-spectrum and broad-spectrum extracts of medicinal cannabis
- Expecting to complete product validation by the end of 2019 followed by supply into Australian and Asian study trials and clinical trials in early 2020
- Canadian based hydroponics equipment division achieved maiden profit for half year to 30 June 2019
To view the report, please visit:
https://abnnewswire.net/lnk/992S9O2O
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.
| ||
|
