LGC Capital’s (OTC: LGGCF) Leading Australian Medical Cannabis LP Partner, Little Green Pharma, Begins Industrial Sales to Patients
Little Green Pharma effectively finishes 2nd industrial medical marijuana harvest and begins sales to Australian clients.
LGP’s products accepted into major statewide medical trials for sophisticated cancer.
LGP commences settlements for exports to Germany.
LGP negotiating to build a 400,000 square foot center on a 500,000 square foot website.
MONTREAL, Oct. 5, 2018/ CNW Telbec/– LGC Capital Ltd. (TSXV: LG)( “LGC”)is pleased to advise that Australian medical cannabis business Little Green Pharma(LGP) in which LGC has a 14.21 % interest, has successfully completed harvest of its 2nd industrial medical cannabis crop from its facility south of Perth in Western Australia.
This quarter, LGP effectively attained another turning point having actually produced Australia’s very first in your area grown medicinal marijuana product as well as making its very first industrial sales to Australian clients.
LGP has likewise begun settlements with German parties for exporting Australian products. LGP sees prospective exports to Germany as being an essential foundation for the business moving forward and prepares to settle settlements within the month, which will be a catalyst for the expansion plan.
Recently, LGP’s products were accepted into the NSW state-wide medical trial for innovative cancer. This is another major tick of approval for LGP products and will enable LGP to straight compare its products’ efficacy with a series of other imported items.
LGP is presently in negotiations to construct a purpose-built center in Perth. Initial terms have allocated a 500,000 square foot block allowing the building and construction of a 400,000 square foot center. A facility of this size would offer approximately 50,000 kgs of flower per annum. The suggested site will include a GMP production center and can be integrated in a staged method, with a very first stage of 100,000 square feet being prepared. Although the main focus is Australian patients, the export market has actually been represented in this proposed develop.
Fleta Solomon, Little Green Pharma’s Managing Director commented; “The suggested site will consist of a GMP production center and can be built in a staged technique, with a very first phase of 100,000 square feet being prepared. Although the main focus is Australian clients, the export market has been accounted for in this proposed build.”
John McMullen, LGC’s CEO, commented: “Our partner in Australia has actually accomplished a good deal in a brief timeframe in a highly controlled environment. We are particularly pleased that Little Green Pharma has begun suppling Australian patients with premium-grade medical marijuana and are now involved in cancer trials.”
About Little Green Pharma and the Australian Medical Marijuana Sector
LGP is the first Australian business to locally-grow and produce medical cannabis products for sale to Australian patients.
LGP is making high quality and trusted medical cannabis items readily available to Australians. The medications are cultivated, without pesticides, in a hydroponic facility in Western Australia’s southwest region and processed in a production center near Perth.
LGP items have actually been subject to comprehensive evaluation and testing based upon the Australian TGA guideline, prior to being distributed under Australia’s firmly regulated medical prescription system.
Under the Australian system, medicinal marijuana products must be recommended by physicians and offered by registered pharmacists.
Medical marijuana is presently being prescribed in Australia for a variety of conditions with the Commonwealth Department of Health establishing scientific guidance documents for the treatment of epilepsy, several sclerosis, chemotherapy-induced nausea and throwing up, chronic non-cancer pain and palliative care (go to www.tga.gov.au/medicinal-cannabis-guidance-documents).
About LGC ( www.lgc-capital.com)LGC Capital is a leading investment company with a concentrate on the Legal Global Marijuana market. Through its portfolio investment companies, LGC is building a world-leading, vertically integrated system of interconnected legal marijuana companies with cultivation, processing and circulation in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets. LGC Capital Ltd. is a Canadian incorporated public business noted on the TSX Venture Exchange (TSXV: LG).
Notification Concerning Forward Looking Declarations
This news release might consist of positive statements with respect to LGC Capital Ltd. (“LGC”) and their particular operations, method, investments, monetary performance and condition. These declarations can usually be determined by use of forward- looking words such as “might”, “will”, “expect”, “estimate”, “anticipate”, “means”, “think” or “continue” or the negative thereof or comparable variations. The real outcomes and efficiency of LGC and LGP could vary materially from those revealed or indicated by such statements. Such declarations are qualified in their entirety by the inherent threats and uncertainties surrounding future expectations. Some crucial elements that might trigger real results to vary materially from expectations include, among other things, basic economic and market elements, competitors, federal government policy and the aspects explained under “Danger Aspects and Risk Management” in LGC’s Management’s Conversation and Analysis for the ended September 30, 2017, as submitted on SEDAR ( www.sedar.com). The cautionary declarations certify all forward-looking statements attributable to LGC and persons acting on its behalf. Unless otherwise mentioned, all positive statements speak only as of the date of this news release and neither LGC nor LGP has any obligation to update such declarations, other than to the level required by applicable securities laws. Neither the TSX Venture Exchange nor its Guideline Service Provider (as that term is specified in the policies of the TSX Endeavor Exchange) accepts duty for the adequacy or accuracy of this release.