Cann Group Ltd signs non-binding agreement to purchase Mildura site in VIC for production of medicinal cannabisPosted by On

() has entered into a non-binding heads of agreement (HOA) to purchase a site within the Mildura region in northwest Victoria.

The company intends to construct a state-of-the-art greenhouse for large scale cultivation and production of medicinal cannabis to service both domestic and export markets.

Cann Group has also entered into a five-year agreement with for the offtake of medicinal cannabis produced by the company at its existing and planned expansion facilities until 2024.

Large scale cultivation

Cann Group chief executive officer Peter Crock said the decision to secure and proceed with the Mildura site ensures the company can maintain its projected timelines to large scale cultivation, with the new greenhouse expected to be fully commissioned in the third quarter of calendar year 2020.

‚ÄúThis is particularly important given the offtake…

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