Connect with us

Australia

THC Global Group in production deal for medicinal cannabis in New Zealand; raises $6.6 million

THC Global Group Ltd (ASX:THC) has signed a binding agreement with JC Logistics Ltd, which trades as Medleaf Therapeutics, for the production and supply of pharmaceutical medical cannabis in New Zealand.

The deal comes on the back of a $6.6 million fundraising aimed at accelerating high-volume cannabis medicines production for the local and global export markets.

Terms of the deal include:

➢ THC Global to provide white-labelled production of medicinal cannabis medicines to Medleaf, following registration of medicines in New Zealand by THC Global;

➢ An initial order of 2,250 bottles, including Full Spectrum CBD and Balanced THC:CBD medicines, labelled under the Medleaf brand, with availability in New Zealand targeted from October 1, 2020;

➢ THC Global to provide limited exclusivity for its CBD 100 Full Spectrum medicine to Medleaf within New Zealand until the end of December 2020; and

➢ Initial production agreement term to August 2021 with automatic annual renewal following the fi..

THC Global Group Ltd (ASX:THC) has signed a binding agreement with JC Logistics Ltd, which trades as Medleaf Therapeutics, for the production and supply of pharmaceutical medical cannabis in New Zealand.

The deal comes on the back of a $6.6 million fundraising aimed at accelerating high-volume cannabis medicines production for the local and global export markets.

Terms of the deal include:

➢ THC Global to provide white-labelled production of medicinal cannabis medicines to Medleaf, following registration of medicines in New Zealand by THC Global;

➢ An initial order of 2,250 bottles, including Full Spectrum CBD and Balanced THC:CBD medicines, labelled under the Medleaf brand, with availability in New Zealand targeted from October 1, 2020;

➢ THC Global to provide limited exclusivity for its CBD 100 Full Spectrum medicine to Medleaf within New Zealand until the end of December 2020; and

➢ Initial production agreement term to August 2021 with automatic annual renewal following the first term.

Major NZ supplier of cannabis medicines


Medleaf, which was set up in 2018, is a major supplier of cannabis medicines in New Zealand, with a well-established supply chain.

From October 1, 2020, new enhanced regulation of medicinal cannabis medicines takes effect in New Zealand which requires all medicines supplied to be submitted for review and registration.

THC Global will seek registration of these medicines prior to supply to Medleaf.

THC Global chief executive officer Ken Charteris said: “By increasing our production of medicines from our Australian facilities, were able to improve efficiency and price competitiveness whilst still delivering industry-leading quality, which will continue to build as we supply additional customers such as Medleaf, and Australian patients.”

“We are very pleased to be working with Medleaf as one of New Zealands leading cannabis medicine brands, and look forward to working together on providing choice in high quality and affordability of medicinal cannabis to patients in New Zealand.”

Medleaf Therapeutics CEO Courtney Letica added: “The new cannabis medicine regulations in New Zealand are a significant opportunity for established brands to reach more patients in need who may benefit from medicinal cannabis. We are happy to be engaged with THC Global and look forward to working with New Zealand doctors to make cannabis medicines more accessible for New Zealanders."

Fund-raising

The diversified global cannabis company also completed a $6.6 million placement to institutional and sophisticated investors, issuing around 22 million new shares at 30 cents per share. The shares listed on June 29, 2020.

It has also launched a shRead More – Source

Continue Reading

Australia

THC Global targets product range expansion and entry into Asia Pacific, Latin America markets

THC Global Group Ltd (ASX:THC) plans to expand its product range and move into new territories in 2021 and beyond as it boosts production at its Southport facility to meet demand from New Zealand and Canadian markets.

The company is targeting to enter the Asia Pacific market in 2021+ with identified potential markets in Thailand, Malaysia, China, South Korea and Japan.

It also sees Latin American and other international opportunities to open with the pharma over-the-counter (OTC) cannabis scale-up.

THC Global operates across the cannabis supply chain, from cultivation, extraction, and direct patient and prescriber support services.

Milestones achieved[hhmc]
THC Global chairman Steven Xu said: “Over the past few months we have achieved several key milestones including launching our Canndeo medicines in Australia, supplying our first prescriptions and signing new production agreements.

“We look forward to building on top of these successes in the coming months and toward supporting ..

THC Global Group Ltd (ASX:THC) plans to expand its product range and move into new territories in 2021 and beyond as it boosts production at its Southport facility to meet demand from New Zealand and Canadian markets.

The company is targeting to enter the Asia Pacific market in 2021+ with identified potential markets in Thailand, Malaysia, China, South Korea and Japan.

It also sees Latin American and other international opportunities to open with the pharma over-the-counter (OTC) cannabis scale-up.

THC Global operates across the cannabis supply chain, from cultivation, extraction, and direct patient and prescriber support services.

Milestones achieved


THC Global chairman Steven Xu said: “Over the past few months we have achieved several key milestones including launching our Canndeo medicines in Australia, supplying our first prescriptions and signing new production agreements.

“We look forward to building on top of these successes in the coming months and toward supporting our target of 6,000 patients using a THC Global produced medicinal cannabis medicine by the end of 2020.”

Export markets


The company has secured agreements to export into Europe, New Zealand and Canada with effect from the third quarter of 2020, with the initial products focusing on CBD medicines range.

Its cannabis medicines are now competitively positioned for direct supply into Canada after receiving Health Canada licensing for Class I, II, III devices and Natural Health Products. Canada has an established market of more than 350,000 registered patients.

It has also inked deals with leading pharmaceutical distributors for New Zealand, as well as to provide prescriber support on cbdinfo.co.nz.

The first order from Medleaf Therapeutics in New Zealand has been received, with an initial supply of 2,250 bottles at $260,000, to be delivered on October 1, 2020.

This order is expected to support up to 800 patients in New Zealand on an ongoing basis.

THC Global is competitively positioned in the New Zealand market due to the requirement from October 2020 for the supply of all future medicines into the country, including future locally sourced medicines, to meet stringent registration requirements.

These include the provision of a six-month expiry date on medicines, which will be a significant time barrier on new market entrants based in New Zealand.

The European supply agreement with Germanys ACA Muller will see its products moving into more than 1,200 pharmacies across the European Union, with the first purchased supply into Europe expected in the fourth quarter this year.

THC Global is completing verification of Good Agricultural and Collecting Practice (GACP) supply for its external suppliers, which is a mandatory requirement for export into Europe.

The companys manufacturing facility is Good Manufacturing Practices (GMP) licensed by the Therapeutic Goods Administration in Australia and has reciprocal recognition across Europe in meeting EU-GMP requirements.

Domestic boost with rescheduling of CBD medicines


The company is also preparing for the rescheduling of CBD medicines in Australia, which is expected in the first quarter of 2021 and is readying products for the required specific Schedule 3 registration throughout 2020.

The Pharma Over-The-Counter (OTC) CBD medicines market will open supply to Australians via pharmacies without the need for a prescription.

THC believes it is the best placed to dominate this market with a global supply chain supplemented with large-scale, low-cost cultivation options and Australias largest capacity dedicated cannabis medicine manufacturing facility.

The value of the future Pharma OTC CBD medicines market has been projected to potentially exceed $200 million per year.

Spike in patient enquiries at Tetra Health


In June, Tetra Health, which THC Global acquired this year, received a 30% increase in patient inquiries and this trend is expected to continue.

In line with this, THC Global is expanding Tetra Healths clinical staff to ensure it can manage a continued increase in patients whilst ensuring a high level of patient support and care.

Tetra Health is a product-agnostic clinic, focused on medicinal cannabis prescribing, ongoing patient care and collecting real-world evidence on medicinal cannabis medicines.

It offers patients and prescribers a broad range of medicinal cannabis medicines, including THC Globals Canndeo medicines and medicines produced by THC Global uRead More – Source

Continue Reading

Australia

Peninsula Energy confirms strong director support for $40.3 million entitlement offer

Peninsula Energy Ltd (ASX:PEN) directors have acquired shares in the company via their participation in the recently completed $40.3 million entitlement offer.

Managing Director Wayne Heili acquired 1,290,476 shares, finance director/CFO David Coyne acquired 280,000 shares, non-executive chairman John Harrison added 37,800 shares and non-executive director Mark Wheatley bought 232,281 shares.

The newly acquired shares of Heili and Coyne also includes the vesting of previously approved Restricted Share Units and unlisted options to them.

Uranium production re-start strategy[hhmc]
The entitlement offer has allowed Peninsula to repay its existing term debt in full (principal amount of US$16.821 million (~$24.7 million) leaving the company cashed-up andRead More – Source

[contf]
[contfnew]

Proactiveinvestors
[contfnewc]
[contfnewc]

Peninsula Energy Ltd (ASX:PEN) directors have acquired shares in the company via their participation in the recently completed $40.3 million entitlement offer.

Managing Director Wayne Heili acquired 1,290,476 shares, finance director/CFO David Coyne acquired 280,000 shares, non-executive chairman John Harrison added 37,800 shares and non-executive director Mark Wheatley bought 232,281 shares.

The newly acquired shares of Heili and Coyne also includes the vesting of previously approved Restricted Share Units and unlisted options to them.

Uranium production re-start strategy


The entitlement offer has allowed Peninsula to repay its existing term debt in full (principal amount of US$16.821 million (~$24.7 million) leaving the company cashed-up andRead More – Source

Continue Reading

Australia

Infinity Lithium releases 3D video showcasing sustainable San José Lithium Project

Infinity Lithium Ltd (ASX:INF) has released a 3D video showing reproductions of what the sustainable San Jose Valdeflórez Lithium Project in Cáceres, Spain, will look like.

The video, which lasts for about two minutes, showcases how the project is designed to guarantee the protection of the citys ecosystem with the responsible use of water and health protection initiatives.

This digital recreation shows details of the mining area, the industrial plant and the tailings as well as the continuous rehabilitation of the site.

[embedded content]

Europe's second-largest lithium deposit[hhmc]
San José Valdeflórez, which is the second-largest lithium deposit in the European Union, is set to put Cáceres on the map of the electric vehicle (EV) sector.

INF is working to develop a sustainable project that offers opportunities for the strategic development of a fully integrated supply chain for EVs in Europe

The video states Cáceres has the opportunity to set an example globally with a te..

Infinity Lithium Ltd (ASX:INF) has released a 3D video showing reproductions of what the sustainable San Jose Valdeflórez Lithium Project in Cáceres, Spain, will look like.

The video, which lasts for about two minutes, showcases how the project is designed to guarantee the protection of the citys ecosystem with the responsible use of water and health protection initiatives.

This digital recreation shows details of the mining area, the industrial plant and the tailings as well as the continuous rehabilitation of the site.

Europe's second-largest lithium deposit


San José Valdeflórez, which is the second-largest lithium deposit in the European Union, is set to put Cáceres on the map of the electric vehicle (EV) sector.

INF is working to develop a sustainable project that offers opportunities for the strategic development of a fully integrated supply chain for EVs in Europe

The video states Cáceres has the opportunity to set an example globally with a technology that is already changing the world – electric mobility.

Lithium supply strategy


Infinity recently strengthened its European lithium supply strategy by executing binding agreementRead More – Source

Continue Reading

Trending