AusCann completes second harvest in Chile

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Leading medical cannabis company AusCann (ASX:AC8) has announced the completion of its second harvest with DayaCann joint venture partner Fundación Daya in Chile.

The company said the second crop yielded 620 kilograms of dried cannabis product, an increase of over 50 percent on the 400 kilograms yielded from the first crop.

"This equates to an approximate yield of 1.2 tonnes per Hectare. DayaCann has a total 30-hectare facility in the south of Santiago which features an open greenhouse to grow various strains for particular cannabinoid profiles," said the company.

DayaCann planted the second crop at the end of 2017 using the superior strains selected from the first crop.

AusCann said it sees the South American market as internationally significant following recent legislative changes in Argentina, which has joined Chile, Colombia and Uruguay in legalising medical cannabis for therapeutic purposes.

“This second harvest in Chile represents an important step in our Chilean operation. It is encouraging to see that our medical cannabis can be accessed by patients through the new SAS scheme in Chile whilst clinical studies are progressing,” said AusCann managing director Elaine Darby.

According to Fundación Daya founder Nicolás Dormal, “We are very excited with the yield from this second crop which will provide patients in Chile with much-needed cannabis-based medicines for a range of illnesses. In addition to supplying Chilean patients with high-quality medical cannabis, DayaCann is geographically well-positioned to become a supplier of clinically validated medical cannabis products to patients in other Latin American countries.”