Pot stock THC just got a manufacturing licence for its Bundaberg plant
Health & Biotech
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THC Global Group (ASX: THC) now has a manufacturing licence but it’s not for its prized Southport site.
The licence, which allows THC to produce medicinal cannabis products, has been granted for its Bundaberg site in Queensland.
THC is now one of a just a few companies with all three medicinal cannabis production licences.
But they still need a manufacturing permit for the site in order to start actually making products.
These are the listed companies with licences:
Chairman Steven Xu said the new licence now completes THC’s “Farm to Pharma” model.
“This licence is a significant milestone for the company, with the next targets being the development of a new generation of proprietary medicinal cannabis products and securing our revenue outlook through off-take agreements and furthering our existing global partnerships,” he said.
The company is already conducting medicinal cannabis cultivation activities at its Strain R&D and Manufacturing Facility in Bundaberg.
THC said it remains on target for product validation production in the final quarter of this year.
Earlier this year, Stockhead got a tour of THC’s pot making plant.
THC has a GMP-certified, ready-to-go pharmaceuticals manufacturing plant for marijuana.
This means it can deliver cannabis products ranging from a basic extract of the full plant to high purity APIs – active pharmaceutical ingredients — that have been scrubbed of nasties and undesirable components.
The way extraction will work is by leaching cannabinoids and terpenes – the fragrant oils – out of dried bud that’s been fed into an extraction tank.
That is funnelled into another tank for filtering and so on until tonnes of material is whittled down to hundreds of grams of extract.
This is sent through the other rooms in the facility where it’s purified into different qualities of extract or active ingredients are stripped out.