PERTH, Australia, June 22, 2021 /CNW/ -- Little Green Pharma
Ltd (ASX: LGP) has acquired a world-class, fully-operational, GMP
medicinal cannabis cultivation and manufacturing facility in
Denmark from Canopy Growth
Corporation (TSX:WEED, NASDAQ: CGC).
The facility, located in Northern
Odense, has the capacity to produce in excess of 12 tonnes
per annum of finished flower and provides LGP with much-needed
product supply from its current inventory of ~1 tonne of medicinal
cannabis flower products.
Previously operating as a production site, LGP hopes to broaden
the facility's service offering by building out a sales and
marketing division and empowering the facility to engage with EU
and global markets. LGP expects that its established brand and
distribution channels and EU cannabis markets know-how will help
generate additional valuable sales opportunities for the facility.
The LGP Group will also share best-practice cultivation,
manufacturing and pharmaceutical insights and expertise between its
The LGP Group plans to immediately focus on delivering products
in Australia and Germany as it grows its portfolio of export
destinations over time. The facility is also well advanced along
the medicine registration process for its first medicinal cannabis
products for the Danish market, with current plans to release in
LGP's Managing Director Ms. Fleta
Solomon said "The opportunity to acquire this facility came
up and it was clear at the outset this was a compelling strategic
move for LGP.
"We have a moment in the market now to capitalise on the brand
equity LGP has built with our existing patients in Germany, the UK, and France as well as Australia, and the immediate access to
medical-grade product on the scale we will now have provides us the
opportunity to accelerate our growth strategy.
"At Little Green Pharma our mission is to develop and supply
cannabis medicines to patients that improve their quality of life.
We are driven by patient outcomes and value every person's
contribution to producing the final medicine, from those nurturing
the mother plants, to those packing the final product.
"We have been particularly impressed with the levels of
expertise, professionalism and engagement from all Danish facility
staff throughout the acquisition process and look forward to
meeting the rest over the coming weeks."
"The acquisition accelerates our ability to provide medicinal
cannabis to Danish, Australian, and other patients across
Europe. We want to work together
to do extraordinary things for patients around the world and this
is a wonderful next step."
With this purchase, existing facility team members will have
continuity of employment resulting in no job losses and LGP will
become a significant employer in Odense. Further, LGP looks forward to
expanding its local workforce as it grows its production output
The C$20 million acquisition of
the 21,500 m2 cultivation and 4,000 m2 GMP manufacturing facility
positions LGP as the leading Australian medicinal cannabis producer
and owner of one of the largest and highest-quality cannabis
production facilities in Europe.
ABOUT LITTLE GREEN PHARMA
Little Green Pharma is a vertically integrated medicinal
cannabis business with operations from cultivation and production
through to manufacturing and distribution, with indoor cultivation
facility and manufacturing facility in Western Australia.
Little Green Pharma products comply with all required
Therapeutic Goods Administration regulations and testing
requirements. With a growing range of products containing differing
ratios of active ingredients, Little Green Pharma supplies
medical-grade cannabis products to Australian and overseas
SOURCE Little Green Pharma Ltd