Weed Week: An Aussie medicinal cannabis farm for sale and crypto ATMs in weed dispensaries – Stockhead

Pic: Jeremy Poland / E+ via Getty Images.
Health & Biotech
July 15, 2022July 14, 2022 |
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Ever fancied your own cannabis farm? Well, there’s a medicinal one for sale in Tasmania somewhere secret but near Cressy, south of Launceston.
ECS Botanics (ASX:ECS) is selling the Tasmanian operation after recently announcing it would divest its hemp food and wellness division, slash operating expenses and focus solely on medicinal cannabis production at its Victorian facility.
CBRE agribusiness managing director David Goodfellow and director Matt Childs are handling the sale process.
“The sale presents a rare opportunity to secure a new facility and medicinal cannabis compound, with all of the supporting infrastructure, allowing a new operator to continue production from day one,” Childs said.
The compound – which includes a security vault, lab room, drying rooms, dehumidifiers, a low THC medicinal cannabis manufacturing shed and offices – was completed last year.
ECS grows, dries and manufactures medicinal cannabis flower products at the Tasmanian facility, supplying domestic and overseas markets.
Cannabis dispensaries in the US now have access to crypto ATMs thanks to BankLine – a crypto-friendly banking and armoured cash logistics company.
There are around 7,000 state-regulated dispensaries in the country and around 30,000 crypto ATMs and BankLine reckons it’s the perfect pairing.
“After 21 years serving in local and federal law enforcement, specialising in the financial services and banking sectors, I see the confluence of cannabis and cryptocurrency as a positive step forward,” BankLine president and CEO Mark Ochab says.
Cannabis Dispensaries To Host Crypto ATMs Nationwide https://t.co/1OMLdE7NzN
— BankLine (@BankLineBitCoin) July 12, 2022

A total of 17 companies were in the green, with 9 companies flat and 11 stocks in the red.
This week the company secured formal regulatory approval in Germany for its Zenivol cannabinoid-based insomnia medication.
ZLD said it’s a major milestone in its expansion to Germany, one of the world’s largest markets for cannabinoid-based medicines and Europe’s largest market.
“With formal regulatory approval for Zenivol now received in Germany, we continue to progress activities to license Zenivol into other global markets,” MD Dr Oludare Odumosu said.
The company flagged $22 million in receipts from customers for FY2022 – an increase of 113% from the previous year – along with $6.5 million in receipts from customers for the period ending 30 June 2022 which is an increase of 130% from the previous corresponding period.
AGH’s wholly owned subsidiary, Peak Processing Solutions achieved a record $3.6 million in receipts from customers for recreational cannabis for the June quarter.
Plus, the company achieved $2.9 million in receipts from customers for pharmaceutical cannabis for the quarter.
“Althea continues to see very strong underlying demand for its cannabis-based medicines and aims this financial year to return to pre COVID-19 growth rates,” CEO Joshua Fegan says.
In early July ECS made its first ever shipment of medicinal cannabis flower to New Zealand.
ECS will be supplying NUBU Pharmaceuticals, NZ’s largest distributor of medicinal cannabis products and medical devices.
The ECS strains are the first strains to be registered for import into NZ as dried flower for inhalation.
This shipment follows the successful registration of ECS Botanics strains, cultivated at the company’s facility in Victoria.
ECS anticipates that NZ will grow to become a strong market for ECS over the 2022/23 financial year.
“This shipment demonstrates ECS’ high-quality products, as New Zealand has one of the highest barriers for entry for imported medicinal cannabis,” said ECS CEO, Nan-Maree Schoerie.
This week the company signed a two-year ~$2 million medicinal cannabis supply agreement with Ilios Santé in Germany.
Ilios Santé will purchase minimum annual quantities of a high-THC white-label medicinal cannabis flower product being developed by LGP.
LGP says the deal represents a validation of its key strategy of developing bespoke, high-value white label strains for export to lucrative jurisdictions like Europe.
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July 29, 2022 <time class="updated" datetime="2022-07-28 22:19:47"July 28, 2022 |
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June 17, 2022 <time class="updated" datetime="2022-06-17 11:34:58"June 17, 2022 |
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