- ECS Botanics has been granted a Manufacture Licence for medicinal cannabis operations in Tasmania
- The licence allows ECS to supply, manufacture, store and dispose of the drug
- The company is currently waiting for its Cultivation Licence to complete the licensing plan for Tasmania
- ECS is up 13.46 per cent on the ASX and is selling shares for 5.9 cents apiece
ECS Botanics has been granted a Manufacture Licence for medicinal cannabis operations in Tasmania.
The licence was granted by the Australian Federal Government’s Department of Health Office of Drug Control (ODC). It allows ECS to supply, manufacture, store and dispose of the drug.
ECS is an agribusiness and hemp food (wholesale and retail) company. It has the necessary licenses to cultivate, supply and manufacture industrial cannabis in Tasmania as well as a grower license in Queensland.
Managing Director Alex Keach is happy with the grant.
“This is a significant milestone for the company, and a great step to becoming a leading diversified cannabis company in Australia,” Alex said.
“We will now immediately commence a feasibility study, while we look forward to reporting on additional licensing and development milestones,” he added.
The license is valid from now until November 8, 2020.
To complete the licensing plan for the Tasmanian site, ECS is currently waiting for its Cultivation Licence from ODC, which has been summited and is under review.
The company said it will update the market on the Cultivation Licence when it has more information.
As the company is developing the proposed medicinal cannabis facility in Tasmania, ECS has appointed PharmOut to assist a feasibility study is delivered with respect to the facility.
PharmOut is an international consultancy group. It helps businesses design, build and operate medicinal cannabis cultivation and manufacturing facilities.
Last week, ECS announced that Woolworths will be stocking its Hemp Oil in stores from next year.
The company is up 13.46 per cent on the Australian Securities Exchange and is selling shares for 5.9 cents apiece at 12:36 pm AEDT.