Major Bundy farm site snapped up by global THC company
BUNDABERG'S future in the medicinal cannabis industry is growing stronger with reports THC Global has secured a lease for a site with 6.6 hectares of existing hydroponic greenhouses, plus an additional 180,000m2 of agricultural land.
According to Business News Australia, the property is owned by Eden Farms and will allow THC to cultivate and produce an additional 88,000kg of dried cannabis flower in the existing greenhouses with the potential to increase this via the open-field cultivation area.
And if the open field cultivation area is used to farm hemp, THC hopes to be able to enter the food and nutraceutical markets globally.
This property will be an addition to the THC research and development facility operated by Canndeo in the Bundaberg region.
Business News Australia reports, THC will now apply to the Australian Office of Drug Control (ODC) for the property to be an additional cultivation site under an existing cultivation licence held by Canndeo.
"The facility complements our existing cannabis production assets in Australia, where we are currently the holder of all three medicinal cannabis licences from the ODC enabling a farm-to-pharma production process at our facilities," THC CEO Ken Charteris said.
The product developed by Canndeo is processed at THC Global's Southport manufacturing facility, which was officially opened last week.
This is a developing story, more to come.