Company completes first commercial medicinal cannabis harvest
Australia’s first commercial crop of medicinal cannabis has been produced through a secret facility in southern Melbourne. The medicinal cannabis industry is estimated to be worth $100m a year and was given Federal Government approval under a strict licensing regime earlier in the year. The Melbourne-based Cann Group told the stock exchange on Monday it had completed harvest of its first cultivation cycle of medicinal cannabis at its southern facility in Victoria. The company is on track to build another facility in northern Melbourne.
Medicinal cannabis has already been harvested by the Victorian government for several years, but this is the first private commercial crop. Cann announced that : “The production process, which includes the curing and drying of harvested material, has been completed. The plant material was harvested in the first half of August under Cann Group’s cannabis research permits as well as its medicinal cannabis permit. “These permits, received in May 2017, allow for the establishment of breeding plants for propagation purposes; a research program b