New Zealand’s first medical cannabis company Cannasouth Products have successfully passed their muster with the country’s Medicinal Cannabis Agency.
Although not much detail was provided in the advertisement for the three successfully evaluated products, they appear to be full-spectrum extracts. This means that they contain all the cannabinoids found in the plant and other compounds such as terpenes.
New Zealand government Lists of the Ministry of Health Disclosure of the products to be an oral liquid medicine called ‘evalaCann’ which will be available in 30ml bottles with the following variants; THC ≤1 mg: CBD 20 mg, THC 10 mg: CBD 15 mg and THC 10 mg: CBD 1 mg.
Commenting on the full spectrum extraction approach, Mark Lucas, CEO of Kanasoth City, said::
“Although the resulting technical challenges have led us down a long regulatory path, the wait is well worth it given the benefit patients will receive from these improved product options,” said Mark Lucas, CEO of Cannasouth.
A successful evaluation by the agency means that the products have either met stringent minimum quality standards under the Misuse of Drugs (Medical Cannabis) New Zealand Regulations 2019, or have received approval for distribution under the Medicines Act 1981 (Approved and Provisionally Approved Drugs).
In other news from Cannasouth, the company indicated that it is about to harvest the first commercial crop of the medicinal cannabis flower at its Waikato planting facility, while also progressing towards GACP and GMP certification. It also has its sights set on exporting the luxury cannabis flower this year, which the company says will bring significant revenue to the Cannasouth Group.
The Waikato facility includes two sealed flowering greenhouses with indoor growing areas for maternal and juvenile plants. Indoor planting, post-harvest, pruning, drying and packing are designed to support a total of eight blooms
Cannasouth has put a lot of thought into the energy efficiency of the facility, since energy is a major expense for these types of operations; It is noted that solar energy can be added if it increases. The company says it uses chemical-free farming techniques where possible and incorporates sustainable practices into all aspects of its operations.
Obtaining GACP and GMP certifications for farming operations will enable Cannasouth to secure the highest selling price for its produce and provide access to more regulated overseas markets.
Cannasouth was the first medical cannabis company in New Zealand to be listed on the New Zealand Stock Exchange (NZX: CBD), which happened in June 2019.