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Cannasouth Limited (NZX: CBD) Licence Granted to Cannasouth Cultivation JV

Thursday 28th January 2021

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Cannasouth Limited’s joint venture partner Cannasouth Cultivation Limited has been granted its commercial cannabis cultivation activity license by the Medicinal Cannabis Agency for its controlled environment greenhouse cultivation facility based in the Waikato region.

This marks another significant milestone in the Cannasouth group’s progression towards supply of New Zealand produced pharmaceutical quality medicinal cannabis into the domestic and international markets.

Cannasouth CEO Mark Lucas says "Our cultivation facility is a state-of-the-art sealed hybrid greenhouse, one of only a handful of this design globally. This facility will produce the highest pharmaceutical quality medicinal cannabis flower, and by harnessing the power of the sun we will achieve this in a much more sustainable and cost-effective way than traditional indoor facilities can.

“As cannabis medicines are plant based, patients are interested in the origin of the products, unlike traditional pharmaceuticals. Large sophisticated medicinal cannabis markets such as Germany are increasingly looking at the provenance and environmental credentials of suppliers and this facility enables Cannasouth to target these markets, be competitive, and with a great story."

Now licensed, the cultivation facility will focus on the equipment commissioning, system validation, and GMP quality certification process. Commercial cultivation operations are scheduled to commence mid-2021.

Please see the link below for more details:

NZX MAP_CBD_Licence Granted to Cannasouth Cultivation JV

Source: Cannasouth Limited

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