Cann Group’s first cannabis crop is on its way to government trials
Australia’s first crop of commercially-grown medicinal cannabis has been cut, cured and dried — and will now be sent off to take part in Victorian Government trials.
Cann Group (ASX:CAN) announced on Monday it had completed harvesting and producing its first medicinal cannabis cultivation cycle — and officials are already analysing the result.
“The Office of Drug Control, during their audit, took some material and have done some testing on that, looking at the THC and CBD content of what we’ve produced,” Cann Group boss Peter Crock told Stockhead.
“We’re also sending samples to Agriculture Victoria who are doing analysis for us.
“In fact the material that we’ve grown under our medicinal cannabis license is going via them to the Victorian Department of Health, who are running the trial for paediatric epilepsy.”
THC and CBD are two of the active components of cannabis which show promise in medicinal uses. THC is the one responsible for getting people high.
Mr Crock said part of the harvest would also go to the CSIRO so they could continue working on ways to extract cannabinoids — such as THC and CBD — from the plant material.
He also said the company had started work on the next cycle.
“We’ve actually already started producing the next crop of plants that are going into the facility, and in fact we’re increasing the capacity,” Mr Crock said.
“Those cuttings have already been taken from mother plants, and we’re preparing to initiate the next crop into the flowering cycle.”
Despite the news, Cann Group shares closed Monday down slightly at $1.15.