48 hours to access MMJ, NEW GOVERNMENT plan.
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Posted On: 04/21/2018 5:48:40 PM
48 hours to access MMJ, NEW GOVERNMENT plan.
PATIENTS to be in access of medicinal cannabis within 48 hours under a radical plan by the Turnbull Government to take over approval from the States. Courier Mail & Herald Sun 11th April 2018.
The government want to speed up the MMJ regulatory system, good news. The race is on... canadian setbacks will delay them until at least september. At the same time Australia rush to get all regulations in place to benefit there MMJ industry.
Medical cannabis export legislation has been passed, but with such little fanfare that many in the industry were unaware the deed had been done.Further, companies are also allowed to export ‘genetic material’ — seeds. (The genetic part is be of big importance !)
In January the federal government said Australian cannabis companies would only be allowed to export value-added products that had been made here.
“The Turnbull Government will now permit the export of Australian manufactured medicinal cannabis products,” Minister for Health Greg Hunt said in January when the changes were unveiled.
“This decision will help both the domestic supply and Australian producers by strengthening the opportunities for domestic manufacturers.”
The Narcotic Drugs Amendment (Cannabis) Regulations 2018 was passed on February 8, allowing medical marijuana products manufactured in Australia to be exported to a licensed recipient in a country which has legalised the product.
All exports must go through the Office of Drug Control (ODC).
Raw material has since been added to the export schedule. The Ministry of Health and Mr Hunt’s office have been contacted for comment.
Not just manufactured products
The first cannabis goods heading overseas are not manufactured goods but seeds.
Medical Cannabis Ltd boss Andrew Kavasilas told Stockhead he will be exporting seeds to Canada as part of a partnership with CannTab, which is interested in some of the Australian genetic strains.
Yesterday QBLs subsidiary got listed, QBL owns 55% of its shares and are major shareholder. Once sales comes around, QBL will get revenue from the suite of MMJ products. For now it get its revenue from the sales of HEMP, threw the deal with COLES-grocery chain with hundreds of stores in the country.
It will be intresting to see how all these news lately continue to effect the valuation of QBL shares next week and beyond. A 30% gain last week will be continued in the same direction I guess - time will tell how the market proceed.
Read More: https://investorshangout.com/post/view?id=500...z5DLOzUdI2
PATIENTS to be in access of medicinal cannabis within 48 hours under a radical plan by the Turnbull Government to take over approval from the States. Courier Mail & Herald Sun 11th April 2018.
The government want to speed up the MMJ regulatory system, good news. The race is on... canadian setbacks will delay them until at least september. At the same time Australia rush to get all regulations in place to benefit there MMJ industry.
Medical cannabis export legislation has been passed, but with such little fanfare that many in the industry were unaware the deed had been done.Further, companies are also allowed to export ‘genetic material’ — seeds. (The genetic part is be of big importance !)
In January the federal government said Australian cannabis companies would only be allowed to export value-added products that had been made here.
“The Turnbull Government will now permit the export of Australian manufactured medicinal cannabis products,” Minister for Health Greg Hunt said in January when the changes were unveiled.
“This decision will help both the domestic supply and Australian producers by strengthening the opportunities for domestic manufacturers.”
The Narcotic Drugs Amendment (Cannabis) Regulations 2018 was passed on February 8, allowing medical marijuana products manufactured in Australia to be exported to a licensed recipient in a country which has legalised the product.
All exports must go through the Office of Drug Control (ODC).
Raw material has since been added to the export schedule. The Ministry of Health and Mr Hunt’s office have been contacted for comment.
Not just manufactured products
The first cannabis goods heading overseas are not manufactured goods but seeds.
Medical Cannabis Ltd boss Andrew Kavasilas told Stockhead he will be exporting seeds to Canada as part of a partnership with CannTab, which is interested in some of the Australian genetic strains.
Yesterday QBLs subsidiary got listed, QBL owns 55% of its shares and are major shareholder. Once sales comes around, QBL will get revenue from the suite of MMJ products. For now it get its revenue from the sales of HEMP, threw the deal with COLES-grocery chain with hundreds of stores in the country.
It will be intresting to see how all these news lately continue to effect the valuation of QBL shares next week and beyond. A 30% gain last week will be continued in the same direction I guess - time will tell how the market proceed.
Read More: https://investorshangout.com/post/view?id=500...z5DLOzUdI2
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