-THC welcomes Federal Government initiative for exporting Medicinal Cannabis products from Australia and is well positioned with international partners to take advantage of this opportunity
-THC is planning a pilot cannabis growing program targeted for first half of 2018 and first production of medicinal cannabis at THC facilities, pending licensing
-THC remains committed to the Australian market development and is well placed to commence importation of the first medicinal cannabis products to Australia from European partner Endoca B.V. in early 2018
-Medicinal Cannabis Clinics program to commence in 2018 aims to provide professional education and training for referring physicians and patients, and collect meaningful patient data to support further advancement of the programs
SYDNEY, Australia, Jan 5., 2018 /Weed Wire/ — The Hydroponics Company Limited (THC) welcomes the announcement from Health Minister Greg Hunt allowing for the exportation of medicinal cannabis. THC believes that this initiative will foster the development of the local medicinal cannabis industry and expects to see further investment in the opportunities within the Medicinal Cannabis market in Australia.
David Radford, THC’s Group Chief Executive Officer, said: “This Federal Government initiative supports the growth and further investment in Australian medicinal cannabis companies. THC is uniquely placed to both develop the international opportunities that will now open up through our International Partnerships, as well as accelerate the Australian uptake of medicinal cannabis through our planned National Access Cannabis clinics, commencing in early 2018.”
The build out of the Company’s growing facility in Queensland is well advanced, and THC remains on track, pending appropriate Government licencing, for a pilot growing program in the first half of 2018, which will underpin development of both the international and domestic supply chains. First commercial cultivation of cannabis will commence once final licensing is in place.
THC is on track to import the first medicinal cannabis product range from Endoca early in 2018 and product will be available to eligible medical practitioners via the Authorised Prescriber Scheme and Special Access Scheme. The distribution agreement with Endoca in conjunction with the National Access Cannabis (NAC) clinic model will enable THC to deliver secure, safe, and responsible access to legal medicinal cannabis commencing with an initial selection of high-quality, GMP certified Endoca CBD products (3% CBD oil, 15% CBD oil).
David Radford added: “We are pleased to be importing the first product from our European providers Endoca. This will be distributed throughout Australia and available to eligible medical practitioners via the Government approved Authorised Prescriber Scheme and Special Access Scheme. THC’s agreements with highly regarded international suppliers will ensure access to some of the highest quality cannabis products available world-wide for prescribers and pharmacists to provide patients with medicinal cannabis treatment.”
For further information regarding the Endoca product range, please visit www.endoca.com
Appointment of key personnel
Early in 2018, THC will commence recruitment of staff for the expansion of the NAC clinics program. The recently announced partnership with NAC provides a professional platform to drive growth of ethical clinics and improved patient access to medicinal cannabis.
For further information, please contact:
MMR Corporate Services Pty Ltd
Level 2, 131 Macquarie Street
Sydney, NSW 2000 Australia
P: +61 2 9251 7177 M: +61 449 607 636