· Althea granted medicinal cannabis Manufacture Licence · Manufacture Licence allows the manufacture of extracts and tinctures of cannabis and cannabis resin, in accordance with relevant manufacture permits · Althea now holds an Import Licence, a Medicinal Cannabis Licence (cultivation and production) and a Manufacture Licence
Melbourne, Australia, 02 November 2018: Althea Group Holdings Limited (ASX:AGH) today announces that its wholly owned subsidiary Althea Company Pty Ltd has been granted a Manufacture Licence by the Australian Government’s Office of Drug Control.
The licence provides Althea with authorisation to manufacture extracts and tinctures of cannabis and cannabis resin in accordance with relevant manufacture permits.
“Althea is excited at receiving our Manufacture Licence. Coupled with the existing Medicinal Cannabis Licence, Althea can now proceed with the next phase of planning for our Victorian-based production facility. Althea shareholders can look forward to a vertically integrated, seed-to-sale, state of the art medicinal cannabis operation, comparable to that of our Canadian partner Aphria,” said Althea CEO Josh Fegan.
Vic Neufeld CEO, of Aphria added “We are excited to see our Australian partner achieve yet another milestone in receiving its Manufacture Licence. This is another step towards ensuring Australian patients have access to high-quality medicinal cannabis.”
“The granting of our Manufacture Licence is further validation of our business model. Patients approved for Althea medicinal cannabis products have quickly surpassed the recent 100 patient milestone, with 127 patients now approved. Similarly, the number of doctors prescribing Althea products has increased from 42 to 50 in the last two weeks,” said Mr Fegan. “And we are just getting started. Our aim is to reach 1,000 patients by this time next year and the comprehensive work we are doing educating mainstream doctors across Australia, makes that a distinct possibility.”
For more information about Althea visit www.althea.com.au
Althea was founded in Melbourne in 2017 with a view to acquiring the necessary licences and permits to import, cultivate, produce and supply medicinal cannabis for eligible patients across Australia. Through strategic supply and distribution partnerships, Althea has been able to commence sales of five Althea branded medicinal cannabis products in Australia.
Althea’s focus on patient care underpins its business strategy and its innovative web-based platform and mobile application, known as Althea Concierge, is designed to educate and support patient access to medicinal cannabis in Australia. Althea has also engaged a team of medical science liaisons to assist medical practitioners to become prescribers, and pharmacists to become suppliers, of Althea products.
Aphria Inc., one of Canada’s lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada, Aphria is truly powered by sunlight allowing for the most natural growing conditions available. Aphria is committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. Aphria is a 25% shareholder of Althea Group Holdings.
Josh Fegan, CEO & Managing Director
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PAC Partners Securities
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Sophie Mayes, Keep Left on behalf of Althea
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Tamara Macgregor, Vice President, Communications
+1 437 343 4000 | firstname.lastname@example.org
Cannabis MANUFACTURING License