AusCann Group (ASX:AC8) Managing Director Elaine Darby presents at the ASX Spotlight Series in Hong Kong.
AusCann Group (ASX:AC8) listed on the ASX in February this year. AusCann’s top 10 shareholders own the majority of the company. Our largest shareholder in particular is Canopy Growth Corp. They are one of our key strategic partners.
The company was formed with the sole purpose to be able to produce cost effective, clinically valid cannabinoid medicines for patients. This has come from the company’s founder, my father, Doctor Mal Washa.
He is the Chairman of the company. He is medical Doctor and was also a Federal Member of Parliament for many years in Australia. When he retired from politics, this was his ambition and his drive. He saw particular patient groups in need for these particular medicines.
He saw that this was happening overseas, in places like Canada, and Israel and so forth, where these medicines are now being allowed. So that is really why we established AusCann.
With this in mind, when we formed, we went out and found what we thought was the best expertise and IP out there internationally, for us to produce such medicines. So we partnered with the group called Canopy Growth Corp, a Canadian company listed on the TSX. They are the largest producer of medicinal cannabis in North America. We have also formed a Joint Venture with a Chilean company, Foundation Daya. They are the only licensed producer of medicinal cannabis in Chile. And most recently, we have now formed a strategic partnership with one of the largest opiate producers in the world, Tasmanian Alkaloids.