AusCann (ACNNF)

[OSOROJO]

AusCann Group Holdings Ltd (ASX:AC8) through its 50:50 joint venture in Chile, DayaCann, has secured its second cultivation licence for its second medical cannabis crop.

This is the only licence granted in Chile to cultivate medical cannabis and allows the joint venture to commence cultivation activities.

The DayaCann joint venture will commence planting crops immediately at its licensed 30-hectare facility south of Santiago, Chile.

The licence follows the successful harvest of 400 plants earlier this year that provided a range of chemotypes to be used in initial trial formulations.

DayaCann is currently the only licensed producer in Chile, giving it a key competitive advantage in a growing market.