Asterion Awarded Medicinal Cannabis Licences from the Australian Office of Drug Control[color=red][/color]
Vancouver, British Columbia--(Newsfile Corp. - December 23, 2019) - Asterion Cannabis Inc. ("Asterion" or the "Company"), announces that its wholly-owned Australian subsidiary ("Asterion Australia") has received its licences for the cultivation, manufacturing and research of medicinal cannabis (the "Licences") from the Australian Government's Office of Drug Control ("ODC"), effective December 20, 2019.
"This is a major milestone for Asterion as it prepares to commence work on its industry leading medicinal cannabis cultivation and processing facility near Toowoomba in South East Queensland, Australia" (the "Toowoomba Facility") stated Mr. Stephen Van Deventer, Asterion's Chairman and Chief Executive Officer. "Asterion is delighted that it has passed through the ODC's rigorous assessment process and been awarded the licences it requires to establish its flagship project. The ODC approvals represent a major step for Asterion towards the manufacturing of pharmaceutical-grade medicinal cannabis at our planned 75 ha (185 acre) Toowoomba Facility."
Stephen Van Deventer, further stated, "Asterion intends to commence work on the Toowoomba Facility in the first quarter of 2020 and is expected to commence cultivation of its first crop in 2022. On completion, the Toowoomba Facility is expected to employ more than 1,000 people harvesting more than 20,000 plants a day, and to generate an estimated AUD $2 billion annually in exports, while also supplying medicinal cannabis to the Australian market. Asterion is committed to its program of innovation across the supply chain, with the goal furthering the development of medicinal cannabis-based pharmaceuticals to provide a safe and effective treatment for a variety of medical conditions."
The Licences authorize Asterion Australia to cultivate cannabis plants and process them into a range of medicinal cannabis products, including natural dried cannabis flower, (across a variety of strains, aimed at specific medical conditions) as well as gel capsules, oils and soluble gels.
About Asterion
Asterion is a Canadian medicinal cannabis company with operations in Australia, specializing in innovation in the development and supply of medical cannabis and is focused on becoming an industry leader in next generation cannabis products. Asterion is focused on the future of advanced agriculture and aims to produce the highest quality of genetically uniform cannabis strains, at an affordable price.
Asterion is led by a team of highly experienced executives with over 120 years of combined experience in medical cannabis, renewable energy, capital markets, and other highly relevant sectors across North America, Oceania, Europe, Africa and Asia.
On Behalf of the Board of Directors
"Stephen Van Deventer"
Chief Executive Officer
For further information, please contact:
Deanna Kress
+1-778-999-6063
info@asterioncannabis.com
