Little Green Pharma
Little Green Pharma (LGP) has announced plans to expand its cultivation and manufacturing capability in Western Australia, entering into agreements to buy properties underlying and adjacent to its current facility.
LGP will use the land to double its current indoor cultivation capacity and, eventually, quadruple production. Construction is expected to start in the second half of 2021 and the purchases are estimated to cost A$5.5m to $7.5m.
Meanwhile, the company also announced a purchase order from German medical cannabis producer Demecan for 9,000 x 15g units of cannabis flower medicines.
LGP has a standing purchase agreement with Demecan, under which the German firm will buy up to 1,000kgs of its cultivated dried cannabis flower each year.
ECS Botanics
ECS Botanics is undertaking a $6 million capital raising to help it complete the acquisition of Victorian cultivator Murray Meds after shareholders approved the deal two weeks ago.
ECS managing director Alex Keach said the funds would provide the company with additional working capital as it pursues overseas market opportunities to accelerate revenue growth.
Althea
Althea has released a new investor presentation outlining its plans for European expansion and strategic growth.
Creso Pharma
Creso Pharma has signed an agreement to acquire Halucenex Life Sciences, a Canadian psychedelics company focused on developing treatments for post-traumatic stress disorder and other mental health illnesses.
The deal makes Creso the first ASX-listed company to wholly own a psychedelic medicine business.