Medicinal cannabis grower Australian Natural Therapeutics Group (ANTG) has entered into the due diligence stage of joining forces with Canadian counterpart Asterion.
The proposed merger will unlock the door for ANTG to a growing and processing complex with production capacity of 500 tonnes of medical cannabis per year. The Darling Downs production facility will be located in Queensland and is estimated at $400 million in value. The 75-hectare asset is tipped to be the world’s largest of its kind and expected to generate around 1000 local jobs.
The two parties will be working together over a period of 2 to 3 weeks to iron out the terms of the deal and conduct due diligence assessments.