Tuesday, 07 December 2021 11:55 GMT

Cannabis company licensed

(MENAFN) Medicinal marijuana group AusCann's shares have jumped, following the announcement that it has all licenses needed to grow cannabis and produce medicines in Australia.

The company said that the federal government's Office of Drug Control has given its partner Tasmanian Alkaloids a production license for its Tasmanian factory.

The company now expects to start expanding cannabis in Australia in early next year and start manufacturing products soon after.

The company also said it is currently the only ASX-listed group to obtain all the required licenses to grow, produce and distribute cannabinoid medicines.


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