AusCann Group Holdings Ltd (ASX:AC8 or ‘the Company’) is pleased to announce that its 50:50 Chilean joint venture, DayaCann, has commenced planting of its second medicinal cannabis crop, following the grant of its cultivation licence as announced on 22 November 2017.
The crop is being planted at DayaCann’s 30-hectare facility south of Santiago. Pursuant to the cultivation licence, a maximum of 435 plants will be planted at the facility, providing a range of cannabis strains to be extracted and processed into trial cannabinoid formulations for the treatment of chronic and neuropathic pain. Once processed into pain formulations the product can progress to clinical trials and registration with the Chilean National Institute of Public Health. Once registered, Chilean legislation permits that medications can be exported.
AusCann and the DayaCann JV are focused on establishing a fully integrated supply chain in Latin America, that will see it manage operations from cultivation through to the development and sale of final dose form medications.
The crop is expected to be harvested in the first half of 2018.
The AusCann/DayaCann operations in Chile complements the AusCann/Tasmanian Alkaloids strategic partnership in Australia with fully integrated cultivation and manufacturing of final dose form medications. AusCann/Tasmanian Alkaloids are the only group to hold all necessary licences to produce final dose form Australian cannabinoid medications.
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