• AusCann completes acquisition of R&D facility in Perth, Western Australia to further develop its cannabinoid pharmaceutical product pipeline.
• Site to be state of the art, fully integrated facility supporting pharmaceutical and novel dose form development activities.
• Purchase consideration of $5.25m, fully funded from cash on hand in excess of $40m prior to acquisition.
25 January 2019 – Leading medical cannabis company AusCann Group Holdings Limited (ASX:AC8) (‘AusCann’ or ‘the Company’) is pleased to announce completion of the acquisition of a 7,300 m2 research and development facility in Perth, Western Australia.
The facility will focus on AusCann’s cannabinoid pharmaceutical product pipeline, supporting development of both innovative formulations and dose forms.
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