The Hydroponics Company gets a lift following medicinal cannabis export approval
Friday, 5 January 2018 The Hydroponics Company Ltd’s (ASX:THC) shares are trading circa 12% higher intra-day at $1.04 following the federal government’s decision to allow medicinal cannabis to be exported from Australia. David Radford, 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 National Access Cannabis clinics that we plan to establish, commencing in early 2018.” New Initiative to support the local medicinal cannabis industry The federal government has approved the exportation of medicinal cannabis in a bid to strengthen the supply of medicinal cannabis amid growing demand domestically and worldwide. This initiative is expected to foster the development of the local medicinal cannabis industry and lead to further investments within the medicinal cannabis market in Australia. Pilot growing program in the first half of 2018 The Hydroponics Company is on track for a pilot cannabis growing program targeted for the first half of 2018, subject to government licencing. Importantly, the build out of the company’s growing facility in Queensland is well advanced. READ: The Hydroponics Company’s shares surge after signing medicinal cannabis deal The company is on track to import the first medicinal cannabis product range from Endoca early in 2018. Endoca is one of Europe’s most highly respected suppliers of certified medicinal cannabis, with sales exceeding €50 million per annum. The Hydroponics Company is aiming to provide access to legal medicinal cannabis for eligible medical practitioners commencing with an initial selection of Endoca CBD products (3% CBD oil, 15% CBD oil). READ: The Hydroponics Company raises $8 million to fast-track development of medicinal cannabis in Australia The company recently raised $8 million via a placement to sophisticated and institutional investors at $0.63 per share. Medicinal cannabis clinics program to commence in 2018 Early in 2018, the company will commence recruitment of staff for the expansion of the National Access Cannabis (NAC) clinic model. The clinics will provide professional education and training for referring physicians and patients, and, in parallel collect meaningful patient data to support further advancement of the programs.
The Wall Street Journal has recently reported that the Weinstein Company could sell off what is left of the company for less than 500 million dollars. The stock shareholders are also likely to lose all of their equity. A deadline was set at December 22nd for offers and the list has since been...
Updater Inc (ASX:UPD) has reaffirmed CY2018 total revenue guidance in the range of US$19 to US$23 million as previously stated in the March quarterly report. The... Proactive Investors - BusinessAlso reported by •RTE.ie
The Health and Social Care Secretary has given his backing to the use of medicinal cannabis oil and says the Government is conducting a review into its use. Jeremy Hunt MP spoke of "strong, clinical.. Source: ODN -
Banks are getting ready for a fight against Attorney General Jeff Sessions. According to Politico banks are lobbying for federal restrictions to loosen on the marijuana industry. Banks want it to be.. Source: Wochit Business -
A controversial plan to expand a local meat company is moving forward. The Missouri Department of Natural Resources approved an operating permit on Friday for Valley Oaks Steak Company. Source: 41 Action News -
Elon Musk’s next project may be a bit more … boring than his previous endeavors. The founder of SpaceX and Tesla is accustomed to flashy enterprises and larger-than-life dreams (that all seem to be.. Source: Wochit News -
Pamela Hadfield, co-founder of HelloMD found out about the benefits of cannabis after suffering from migraines for years. “When I was 14, I experienced my first migraine. It was like lighting came.. Source: NowThis News -
‘JustHemp’ is a company delivering cannabis in Rome. The idea behind it is very similar to food delivery service. The type of marijuana the company delivers is the so-called light marijuana, which.. Source: Ruptly TV -
Doctors told her she wouldn’t live past 9 years old, but now this young girl is celebrating her 10th birthday thanks to Marijuana. Tatiana ’Tuffy’ Rivera suffers from Lennox-Gastaut Syndrome, a.. Source: NowThis -
This cannabis menu is classy AF: Cannamilk infused Ricotta Crostini with Sicillian Pesto; Root Vegetable Market Salad with Infused Vinaigrette; Pumpkin Coconut Curry Soup with Cannaoil; Slowbriase.. Source: NowThis -