Green Farmers has been granted a permit for genetic stock, cultivation, and production of medicinal cannabis for its protected cropping facility in Victoria.
The company will see operations commence at its 4,000 sqm glasshouse this month where it will produce an expected 5,000kg of THC and CBD flower for the Australian and international markets. A first harvest is planned for January.
Green Farmers is focused on delivering high-quality, consistent flower and uses supplementary lighting for year-round cultivation of pharmaceutical-grade medicinal cannabis.
It has secured access to around 2o cultivars and developed a B2B strategy which enables existing brands in the Australian market to buy locally cultivated cannabis.
CFO and co-founder Matthew Turner said: “We recognise the important role that medicinal cannabis plays in patients’ lives and we take that responsibility very seriously.
“Medicinal cannabis is progressively becoming more accepted as an effective medicine and we are learning more about the benefits every day. Through our unique genetic library, Green Farmers will play a vital role in improving patient outcomes by early next year.”
Offtake agreements have already been locked in for the first harvest, with rolling harvests ensuring regular supply to meet market demand.
The company is already focusing on growth, with 21,000 sqm of approved expansion in additional glasshouse facilities on its existing site. While planning is still underway, the construction of a second 6,000 sqm glasshouse will commence either at the end of 2021 or in early 2022.
Green Farmers is a wholly owned subsidiary of CHI, which focuses on holistic health cultivation and, in particular, medicinal cannabis.
CEO and co-founder Tom Varga said: “Enquiries coupled with our existing offtake agreements are already exceeding our expectations and that gives Green Farmers and CHI confidence to look at expanding to meet growing market demand.
“But our vision is not to be the biggest in Australia or the world, instead we are focused on delivering quality and expanding our unique range of genetics while building additional scale as appropriate.”
“Focusing on delivering the right cultivars to patients to meet their health needs is our priority.”
CHI completed a A$10 million capital raise in June.