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Home 🌿 Medical Cannabis News 🌿 Medicinal cannabis trial crop to be planted on Christmas Island 🌿Medicinal cannabis trial crop to be planted on Christmas Island
Medicinal cannabis company AusCann Group is set to plant a crop on Christmas Island after raising $3 million.
The company, which is chaired by former federal Liberal MP Mal Washer, said it had already commenced engagement with members of the 2000-strong community on the Indian Ocean territory, which hosts immigration detention facilities.
AusCann, which is planning to list on the Australian market in early 2016, outlined today that it believed there would be minimal impact on the Christmas Island ecosystem as the trials would be undertaken on reclaimed phosphate mining land.
The company said the $3m raising, which it said was heavily oversubscribed, meant it could immediately progress the key research and development project on Christmas Island.
Elaine Darby, AusCann managing director, said the company was now in the final planning stages for the trial crop, which would feature five varieties of CBD-rich cannabis sourced under an exclusivity partnership...
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