Australia  

“Australia's speediest news portal”
One News Page
> >

The Hydroponics Company gets a lift following medicinal cannabis export approval

Proactive Investors 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.
0
shares
Share on
Facebook
Share on
Twitter
Post on 
Reddit
Share by
Email
 
Source: Wochit Business - < > Embed
News video: The Weinstein Company Will Soon Sell For Less Than $500 Million

▶ The Weinstein Company Will Soon Sell For Less Than $500 Million 00:38

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...

You Might Like


Recent related news

88 Energy gives update on Icewine 2 flow, confirms new acreage

88 Energy Ltd (LON:88E) has confirmed that nitrogen lift operations have begun, to support the ongoing programme at the Icewine-2 well in Alaska. The company...
Proactive Investors - Business

Aurora Labs produces first powder for use in 3D metal printers

Aurora Labs Ltd (ASX:A3D) has produced laboratory test-scale powder from its prototype powder production unit (PPU). The prototype PPU is intended to test and...
Proactive Investors - Business

Updater Inc reaffirms revenue guidance for CY2018

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

Riot Blockchain is a ‘compelling’ investment option after reaching SEC compliance, says analyst

Riot Blockchain Inc (NASDAQ:RIOT) has met full compliance with the Securities and Exchange Commission after being subpoenaed by the regulatory body. The crypto...
Proactive Investors - Business

Apple Allegedly Cancels iPhone SE 2

Apple Allegedly Cancels iPhone SE 2
Apple has reportedly canceled the second-generation iPhone SE, as the company wants to focus entirely on the 2018 trio that includes a 5.8-inch iPhone X...
Softpedia - Technology

DSV, 699 - SHARE BUYBACK IN DSV A/S

*Company Announcement No. 699*On 1 May 2018, DSV A/S initiated a share buyback programme, as described in Company Announcement No. 691 of 1 May 2018. According...
GlobeNewswire - Press Releases

Amazon Web Services to create 1,000 Dublin jobs

Amazon Web Services (AWS), a company offering pay-as-you go cloud and data storage services, is to nearly double its Irish operation with the creation of 1,000...
RTE.ie - Front Page

Head of VW's Audi arrested in Germany over diesel scandal

FRANKFURT (Reuters) - German authorities arrested the head of Volkswagen's luxury arm Audi on Monday, the most senior company official so far to be detained over...
Reuters - Front Page


Tweets about this


Other recent news in Business

What Russians think of AUSTRALIA and how cinema can helpBill to axe GST on tampons passes SENATE
Colombia's PRESIDENT-elect pledges unityLiberal senator LUCY GICHUHI says $200,000 salary is 'not a lot of money'
Havilah Resources’ shares ride higher after establishing large COPPER-gold reserveCost of living the focus for NSW BUDGET

Recent related videos

News video: Health Secretary backs use of medicinal cannabis oil

▶ Health Secretary backs use of medicinal cannabis oil 00:20

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 -

News video: Banks Want More Clarity On What They Can And Cannot Do

▶ Banks Want More Clarity On What They Can And Cannot Do 00:32

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 -

News video: Meat company gets OK for controversial expansion

▶ Meat company gets OK for controversial expansion 00:35

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 -

News video: The Boring Company Brings Hyper Loop To Chicago

▶ The Boring Company Brings Hyper Loop To Chicago 01:01

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 -

News video: Op-Ed: Medical Cannabis Could Help Solve Opioid Crisis

▶ Op-Ed: Medical Cannabis Could Help Solve Opioid Crisis 04:45

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 -

News video: Speedy weed! Online cannabis delivery service launches in Rome

▶ Speedy weed! Online cannabis delivery service launches in Rome 01:14

‘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 -

News video: Medical Cannabis is Giving New Life To This Young With Lennox-Gastaut Syndrome

▶ Medical Cannabis is Giving New Life To This Young With Lennox-Gastaut Syndrome 01:27

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 -

News video: Check Out This Secret Cannabis-Infused Dinner Party

▶ Check Out This Secret Cannabis-Infused Dinner Party 02:19

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 -

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.  |  About us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Help  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter   FIND us on Google+