BlueMount Capital Appointed as Corporate Advisor by Medcan Group Pty Ltd
BlueMount Capital is pleased to advise that we have been appointed as an exclusive Corporate Advisor to the Medcan Group Pty Ltd.
Founded in Australia in 2016, Medcan is a medicinal cannabis cultivation, production, research and manufacturing company aiming to apply state of the art technologies to produce medicinal cannabis and associated medicinal cannabis products. The Company holds the full suite of licences issued by the Australian Office of Drug Control (ODC) and holds the relevant State and Biosecurity licences to allow the execution of Medcan’s business plan. The Company is planning to expand its current import and distribution business and the commissioning of its manufacturing facility.
- Medcan plans to become a complete ‘seed to sale’ facility;
- The Company has existing import and distribution operations;
- Medcan is amongst a handful of Australia companies holding the entire suite of Australian Office of Drug Control (ODC) licences:
- Cannabis Research Licence;
- Medicinal Cannabis Cultivation and Production Licence;
- Manufacture Licence;
- Import & Export Licences;
- Medcan also holds the following State and Biosecurity licences:
- Queensland Poisons Licence;
- Queensland Wholesaling Licence;
- DAWR Permit
- The planned Medcan facility fit out has both DA & BA (Local Council) approval;
- Medcan’s Cannabis Research and Development centre has been constructed and inspected by the Australian Office of Drug Control (ODC – awaiting final permit approval);
- The Company holds signed offtake agreements for over 65% of production for an approx. value of up to $25m with further offtake agreements in the pipeline;
- Medcan has also signed manufacturing agreements with other cultivators who intend to use Medcan to process and manufacture their end products.
- The Australian Medicinal Cannabis market is forecast to grow from $52m in 2018 to $1.2B in 2027.
- The global legal marijuana market is expected to reach US$66.3B by the end of 2025 and is anticipated to grow at 23.9% over the period.
Dr Mark Rainbird