Office of Drug Control Manufacture Licence Secured Sydney, Oct 10, 2018 AEST (ABN Newswire) - The Board of Queensland Bauxite Limited (ASX:QBL) (or "the company") is pleased to announce that its soon to be wholly owned subsidiary, Medcan Australia, has secured a Medical Cannabis Manufacture Licence under the ODC (Office of Drug Control).
This licence will allow Medcan, subject to individual permit issue, the ability to manufacture its range of products, including but not limited to:
- Dried flower finished products
- Full extract oils
- Medicinal cannabis products manufactured in Australia under a GMP Licence
- Medicinal cannabis products listed as export-only or registered in the ARTG
- Extracts of cannabis (or cannabis resin) manufactured under a Narcotic Drugs Act 1967 Licence that are not in the final dosage form
- The Contract manufacture of other licenced producers' products
Medcan Australia's CEO, Craig Cochran commented, "We are extremely happy to secure our Manufacture Licence. This is the last ODC (Office of Drug Control) licence required for us to complete our vertically integrated business model".
Medcan has also secured a QLD Health Licence allowing for the storage of Schedule 9 substances, including Cannabis Seeds; and a DAWR Permit (Department of Agriculture and Water Resources Permit) allowing for the importation of plant materials, specifically cannabis seeds.
Medcan currently holds the following valuable ODC, Federal & State licenses:
o ODC Medical Cannabis Cultivation and Production Licence
o ODC Import Licence
o ODC Medical Cannabis Manufacture Licence
o ODC Export Licence
o DAWR (Department of Agriculture and Water Resources) Permit
o QLD Health Licence - Schedule 9 Substances
Pnina Feldman, Executive Chairperson of QBL said, "We are very pleased that Medcan has secured this valuable manufacture licence thus ensuring the continuing development of our Medical Cannabis project in Australia and finally completing the company's second fully vertically integrated business model, in the nutritional and medical Cannabis industries. The Medcan team continue to impress us with their professionalism and expertise, and being one of the only MM companies now in Australia to have secured all these valuable ODC Medical Cannabis licences. We look forward to working together, with our International network of experienced and dedicated team members, who will continue to build on these achievements to create shareholder wealth."
About Queensland Bauxite Ltd
Queensland Bauxite Limited (ASX:QBL) is an Australian listed company focused on the exploration and development of its bauxite tenements in Queensland and New South Wales. The Company's lead project is the South Johnstone Bauxite Deposit in northern Queensland which has rail running through the project area and is approximately 15-24 kilometres from the nearest deep water port. The Company intends to become a bauxite producer with a focus on commencing production at South Johnstone as early as possible. The Company also pursues additional investment opportunities, and has agreed to acquire a 100% shareholding in Medical Cannabis Limited, an Australian leader in the hemp and Cannabis industries, and a 100% shareholding in Medcan Australia Pty Ltd, a company with an ODC cultivation and production License and a DA approved Cannabis production and manufacturing facility.