MMJ PhytoTech Limited
(ASX:MMJ) says it is the first Australian company to receive a licence to cultivate medical marijuana in Canada.
The company says its facility Duncan, British Columbia, has 10,000 square-feet of area in which to cultivate its cannabis.
MMJ spent $8 million CAD to build this facility, which includes a “Level 8 Narcotics Vault” and an in-house biochemical lab.
The company says that the new licence positions MMJ not only as a supplier to existing Canadian patients, but also potentially the future “regulated recreational market”.
MMJ reported a net loss of $3.5 million at 31 December 2015.
