MELBOURNE, Australia, 4th July 2018/- Cannatrek Ltd (“Cannatrek” or the “Company”) was issued its final medicinal cannabis licence to complete its suite of Office of Drug Control licences and join the ranks of Australia’s premier cannabis companies.
It’s been a busy past year for Cannatrek, enjoying a period of significant growth. Within seven months of the new legislation, Cannatrek was awarded the second medicinal Cannabis Research licence, that kickstarted the development of its southern Queensland research facility. A myriad of activities have begun around the cannabis sativa plant, which will pave the way for an entirely new industry, focused on research, importation, patient care, cultivation, manufacturing, and of course, the exportation of medicinal cannabis products.
As one of the first companies in Australia to be fully licensed, we set the benchmark, with first-mover advantage in research and commercial production. It was in October 2016, that the legislation was changed to allow medical cannabis, and within 20 months, we had secured all licenses to operate nationally and globally.
Cannatrek plans to put its proprietary seeds in the ground, scheduled for early 2019 at its Queensland research facility and concurrently prepare a cultivation target of 200 tonnes per annum, through a vertically integrated cannabis ecosystem. That challenging target will be achieved with the completion of a 160,000 sqm “smart” greenhouse facility in northern Victoria. The essential industry licenses will provide the catalyst for Cannatrek’s expansion from an importer of medicinal cannabis to become a fully integrated producer and distributor of Australian grown medicinal cannabis healthcare products.