Pharmocann Partnership Operational Update
CGB has a 50/50 partnership agreement with one of Israel's leading Cannabis companies Pharmocann, to produce and sell Pharmocann's unique advanced cannabis-based treatment formulations, dermatological and cosmetic beauty products.
On Wednesday August 22nd, Board members and senior managers from Cann Global, including representatives from its Food Division, Media Division, Research Division, Bio Health Directors and the Medcan Directors and QA officers met with Pharmocann's VP of Research & Development, Dr. Benjamin Rosenstein PhD at the Bio Health facility in Sydney to inspect the facilities and discuss the Pharmocann formulations and manufacturing process.
After inspecting the facilities, and as reported in the Company's latest Quarterly, Dr. Rosenstein was very impressed with Bio Health's world class facilities, infrastructure, formulation team and the ability of the local team to manufacture and produce the new range of Pharmocann Cannabis Nutraceuticals here in Australia.
Cann Global, in discussion with its Medical Cannabis Licensing management team partners, Medcan Australia, and manufacturing partner Bio Health, will begin to make preparations for the production and manufacture of the new range of Pharmaceuticals which will be marketed under the Cann Global label for sale in Australia and for export to Asia and International markets.
Dr. Rosenstein remarked, "I am very impressed with the world class team and facilities that Cann Global has put together, and very impressed with the quality of the production, including the high quality of the hemp oils and other hemp products that Cann Global is producing which are of an amazingly high standard. Whilst you will benefit from our expertise, we simultaneously admire and wish to benefit from yours."
Bio Health are preparing to produce and manufacture the full range of Cannabis and Hemp Nutraceutical products for Cann Global. The Company believes that these new and exciting Australian made and manufactured Nutraceuticals will be warmly welcomed by Australian and Asian consumers due to the current high demand around the world for these types of products.
Bio Health will continue to produce our premium hemp seed oil capsules for our Foods Division.
Pnina Feldman, Executive Chairperson for Cann Global said, "We were very pleased to have Dr. Rosenstein visit our team and facilities, and we hope that Pharmocann's range of Cannabis and hemp products will significantly add to our revenues with their amazing formulas for skin care for men and women being prepared for immediate production."
In its latest June Quarterly report, the Company reported an operating sales revenue of $1,089,000 over the past year during the recompliance period, and are looking forward to materially increase operational revenues through its new range of Hemp and Natural Foods which now include: Hemp Seed, Hemp Seed Flour, Hemp Seed Protein, Hemp Seed Milk, Hemp Seed Smoothies, Hemp Seed premium Oil, Hemp Seed Oil Capsules and Vege Capsules, Black and White Chia, Cacao, Green Leaf Stevia, White Quinoa and Brown Rice.
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About Cann Global Limited
Cann Global Limited's (ASX:CGB) primary focus is to legally grow and cultivate hemp to research and develop medicinal cannabis products to service an increasing demand in the Australian and global markets.
Cann Global Ltd has a 100% shareholding in Medical Cannabis Ltd (MCL) and a management agreement with Medcan Australia Pty Ltd (Medcan) which operate a business cultivating, researching, developing and soon to be distributing medicinal cannabis products in Australia. Our Medical Cannabis division has been a key value driver for the Group.
The Group also retains an interest in its existing Bauxite Projects.
Cann Global Limited