Little Green Pharma facility gets the go-ahead
20 July 2020, Written by Matt Ogg
The Office of Drug Control (ODC) has given the green light to an expanded cultivation facility in Western Australia that can produce 110,000 bottles of medicinal cannabis oil each year.
Little Green Pharma (ASX: LGP) completed the facility in March to lift its production capacity 10-fold, including nine flowering rooms with automated technology, two mother plant rooms and two vegetation rooms
The granting of a Medicinal Cannabis Cultivation and Production Permit is another string in the bow for Little Green Pharma, which since listing in February has also received a manufacturing licence to make its own cannabis extracts in-house and received permission to supply its extracts to certain third-party manufacturers.
Today's announcement will allow LGP to ramp up production, adding to its well-established third-party flower and resin supply lines it expects will help ensure growing demand requirements can be met.
The term of the permit is until 10 March 2021 in alignment with LGP's Medicinal Cannabis and Manufacture licences.
ODC permits are typically renewed annually or biennially on a rolling basis.
"The completion of permitting and commencement of significantly increased operations at our expanded cultivation and manufacturing facility represents the achievement of a major milestone for Little Green Pharma," says LGP founder and managing director Fleta Solomon (pictured).
"We expect the increased production scale will allow us to fulfill both growing demand in Australia as well as serve as a platform to become a significant supplier into the German, UK and other key European markets."
In other cannabis industry news today, MGC Pharma (ASX: MXC) has signed a binding term sheet to acquire Medicinal Cannabis Clinic Pty Ltd, one of Australia's leading medicinal cannabis clinics, for approximately $1.4 million worth of scrip and cash.
Business News Australia
Author: Matt Ogg