Australia’s first commercial cannabis crop receives approval

commercial cannabis

Medicinal cannabis company Cann Group has received approval to start cultivating its first commercial cannabis crop.

Cann’s first cannabis plants are expected to be harvested by August this year.

According to the company, the plants will supply material to be manufactured into medicinal cannabis products. The company will also be conducting a research program with CSIRO to develop unique cannabis extracts.

“Our competitive strengths lie in the research and development, cultivation, production and manufacturing associated with the medicinal cannabis value chain,” Cann Group chairman Allan McCallum told the Sydney Morning Herald.

Cann Group is the first Australian company to get a license to grow medical marijuana. The company achieved an Australian Securities Exchange listing last month.