In the Australian state of New South Wales, the Lismore region will see a lift in local jobs thanks to the establishing of a medical cannabis production facility.
Stage 1 of CannaPacific’s project boasts a 10,000 square metre climate-controlled glasshouse that will enable year-round production and produce around 10,000 kilograms of cannabis flower annually.
Lismore City Council states it worked with CannaPacific over a period of a year to guide the company through the approvals process.
“This is a huge facility that will create much-needed economic activity and jobs for our community,” said Lismore Deputy Mayor Darlene Cook. “It is a very significant investment and I would like to congratulate Council staff and local tradespeople who worked with the company to set-up this facility in our community.”
Up to 100 new local jobs are expected to be created from the venture.
According to CannaPacific, cultivation at the facility is expected to begin by mid-2020 and the firm has supply agreements in place both locally and overseas. In addition to the production of medicinal cannabis, the facility will also act as a research and development unit; a venture being carried out in partnership with the University of Newcastle.
CannaPacific appears to be another one of Australia’s quiet achievers on the medical cannabis front. There’s not a lot of information on its web site about its activities or much published anywhere else about it except in connection to Canada’s Aleafia Health Inc; which apparently has a 10% stake in the company.
Alefia was granted permits from Health Canada to commence medical cannabis exports to Australia back in July, and CannaPacific is distributing those products. ASIC records indicate Cannapacific Pty Ltd was registered in August 2017.
According to Australia’s Office of Drug Control, CannaPacific currently holds a Medicinal Cannabis Licence and Cannabis Research Licence.
CannaPacific says one of the company’s focus areas will be on the production of Active Pharmaceutical Ingredients (APIs), primarily tetrahydrocannabinol (THC), Tetrahydrocannabinolic acid (THCA) and cannabidiol (CBD) isolate.
Many would be quite familiar with what THC and CBD are, but perhaps not THCA – it is a precursor of tetrahydrocannabinol that is decarboxylated to THC with drying and heating.