Australian Company Althea Receives Medical Marijuana Cultivation License | CashCropToday
0 Shares 91 Views

Australian Company Althea Receives Medical Marijuana Cultivation License

March 15, 2018
91 Views

Aphria Inc. (TSX: APH) (OTC: APHQF) has recently announced that Althea Company Pty Ltd., an Australian-based partner, has been granted a medical cannabis license from the Australian Government’s Office of Drug Control.

The newly obtained license provides Althea with the greenlight to cultivate medical cannabis. This news will facilitate the two partners to immediately start construction of a state-of-the art greenhouse facility in Victoria.

Earlier this year Aphria announced a $2.5M investment into Althea for 25% ownership in the Australian based company. Aphria intends to supply Althea with co-branded cannabis oil and dried flower to the Australian medicinal cannabis market, as Althea offers Aphria the chance to expand the company’s operations to the land down under.

Australia adds to the list of other countries that Aphria has extended its reach to, like England, Germany, Israel, Italy, and Spain.

“The fact that only 14 such licenses have been approved (in Australia) to date is testament to the hard work and dedication shown by all members of the organization,” said Josh Fegan, Managing Director of Althea. “Althea wish to acknowledge the professionalism and ongoing support received from Mr. Stoddart and his team at the Office of Drug Control, along with our Canadian partner Aphria, whose dedication to the Australian medicinal cannabis market is unrivalled.”

Press Release


Recent News
Canadian Company Aphria Purchases Nuuvera for $826M to Create International Powerhouse


 

You may be interested

Nevada Sold $35M of Recreational Cannabis in February 2018
Politics
Politics

Nevada Sold $35M of Recreational Cannabis in February 2018

Sam Rosenberg - April 25, 2018

Nevada's recreational cannabis stores netted a total of $35M in total sales over the month of February. The state has generated a total of $6M in taxes…

Oklahoma governor signs industrial hemp legislation
Politics
5 views
Politics
5 views

Oklahoma governor signs industrial hemp legislation

Sam Rosenberg - April 25, 2018

OKLAHOMA CITY (AP) — The Oklahoma governor has signed into law a measure allowing universities and farmers who work them to grow industrial hemp. The Tulsa World…

Organigram Holdings Announces $3.7M in Revenue for Q2 Financials
Market Watch
9 views
Market Watch
9 views

Organigram Holdings Announces $3.7M in Revenue for Q2 Financials

Sam Rosenberg - April 24, 2018

Organigram Holdings (TSX VENTURE: OGI) (OTCQB:OGRMF) announced this morning that the company has netted approximately $3.7M in revenue for its second quarter financials. This is company's best quarter…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: