ECS Botanics Holdings Ltd (ASX: ECS) revealed on Tuesday it had actually tattooed an arrangement that will see it obtain Murray Meds.
Murray Meds has a certified medical marijuana growing and production center positioned on the Murray River in North Western Victoria. In the most current and very first growing season, the business produced 350 kgs of dried flower. The company has authorizations for the growing and processing of 3,500 kgs of medical marijuana and presently has another crop in the ground.
In 2015, Murray Meds was approved a TGA (Healing Item Administration) GMP (Excellent Production Practices) accreditation. The business appears to have an unique concentrate on sustainability, following specific Organic Accreditation Standards. In 2019, it likewise set up a 34kW solar energy system on the roofing system of the biggest structure at its growing website.
When It Comes To ECS, it has actually the licences needed to cultivate, provide and produce commercial hemp in Tasmania, in addition to a grower license in Queensland. Its Tasmanian commercial hemp farm is likewise the website of ECS’s medical marijuana center which is presently under building and construction. ECS Botanics likewise has a stake in TAP Agrico, a grain storage business that ECS utilizes for the logistics, storage and drying of hemp seed.
Discussing the acquisition, ESC Handling Direct Alex Keach stated as a combined group the business were placing to end up being the biggest and most geographically varied marijuana manufacturer in the nation.
Murray Meds Handling Director Nan-Maree Schoerie, who is a previous chemist and has actually acquired more than 3 years of leading big business, stated:
” Both organisations are extremely grounded in their technique to providing inexpensive medical marijuana as naturally and sustainably as we can.”
At conclusion of the acquisition, which goes through numerous terms, Ms. Schoerie will sign up with the board of ECS.
In other current news from ECS Botanics, late last month the business participated in an arrangement with Medipharm Labs Australia where the latter has actually accepted buy marijuana flower or unrefined resin extract from ECS. The supply contract starts on November 1 this year. The set likewise signed a devices innovation transfer purchase contract that will support ECS’s medical marijuana endeavor in Tasmania.