Earlier today,Australian cannabis company, Cann Group Ltd. (ASX:CAN) (OTC:CNGGF) announced that they have secured the permits necessary to begin cultivation. Cann Group was the first Australian medical cannabis company to obtain cultivation permits from the Office of Drug Control.
Permits and Developments
Cann Group was issued three permits, one medicinal cannabis permit and two cannabis research permits. These permits enable the company to grow breeding plants for propagation purposes and to supply raw cannabis to be manufactured into medicinal products. These permits will also facilitate a research study with the Commonwealth Scientific and Industrial Research Organization (CSIRO) to develop unique cannabis extracts.
The first plants are expected to be harvested in August 2017 and the finished material will be supplied to a commercial processor to be manufactured for use in clinical trials or to be distributed to patients.