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Cannasouth receives first commercial licence from Ministry of Health
New Zealand’s only NZX listed medicinal cannabis company, Cannasouth Limited (NZX:CBD, Cannasouth), is pleased to announce that its wholly-owned subsidiary Cannasouth Plant Research New Zealand Limited (CSPRL) has been granted the first of its required licenses to cover the commercial activities of the group under the New Zealand Medicinal Cannabis scheme.
This first license covers CSPRL’s Hamilton site and allows both medicinal cannabis cultivation and possession for manufacture with certain authorised activities.
CEO Mark Lucas says: “This is an important milestone in Cannasouth’s transition from a research and development company to a commercial medicinal cannabis company.”
“As a company, we look forward to supplying New Zealand-produced, next-generation medicinal cannabis products for local and export markets, and this is another step in that journey.”
Additional licenses are being applied for to cover the cultivation activities of joint venture partner Cannasouth Cultivation Ltd (CCL) and the commercial extraction and manufacture activities of subsidiary Midwest Pharmaceutics NZ Ltd (MWL).