Medical cannabis company AusCann Group (ASX:AC8) has provided a quarterly update to the market flagging a deal with MediPharm Labs.
AusCann has inked a deal to purchase cannabis resin from MediPharm Labs, Canada’s largest supplier of purified, pharmaceutical grade cannabis extracts.
The resin will be used in the development and production of AusCann’s first line of hard shell capsules, and AusCann says it is on track to release its hard shell capsules to the market for clinical trials during 2019.
AusCann has also announced the appointment of Ido Kanyon as its new CEO, he will take the reigns on May 22nd.
Shares in AusCann (ASX:AC8) are trading 1.37 per cent higher at $0.37.