Emerging Australian medicinal cannabis company Greenfield MC has announced a joint venture with EPHS Holdings.
The joint venture will focus on the cultivation of medicinal cannabis in Australia oriented towards exporting to Asia.
Greenfield MC said the joint venture will combine its medical and pharmaceutical expertise with EPHS’s experience and proven track record in commercial cannabis cultivation.
EPHS has been growing medical-grade cannabis for several years and has been approved as a Health Canada Licensed Producer since 2013.
“EPHS has the kind of in-depth knowledge and track record that will assist us to quickly establish ourselves as leading cultivators here in Australia,” said Greenfield MC CEO Nicholas Hanna.
“They have expertise in establishing state-of-the-art cultivation facilities, IP and genetics, and numerous strategic global partnerships. That leverage will allow Greenfield MC to hit the ground running when it comes to Australian cultivation. With EPHS at the helm, there will be no need to re-invent the wheel or learn on the job, and we can avoid teething and execution issues.”
“This joint venture with Greenfield MC has come at just the right time for us,” said Stevan Perry, President of EPHS.
“EPHS is a leader in the North American cultivation space. Our plan is to take our years of commercial experience, expertise and know-how into the global marketplace to cater to what promises to be a wave of industry development across Australia and the Asia-Pacific, capitalising on projected consumer numbers growth, and increasing regulatory awareness of the healthcare benefits of this new pharmaceutical product category.
"We have been looking for a medicinal cannabis company in Australia to partner with that shares our vision of providing high-quality low-cost medicinal cannabis, and we’re excited to have found it in Greenfield MC. Through our joint venture, we are perfectly positioned to open up these new markets.”
Cultivation under the joint venture is expected to commence in late-2020.
"Locations are currently being scouted for establishment of the cultivation facility, with Queensland’s Sunshine Coast of particular interest due to its favourable climate and natural light-cycle," said Greenfield MC in a statement.
“Australia’s reputation for best agricultural practices, crop safety management systems and robust quality control will make Australian-grown cannabis the envy of the global market and provide patients with confidence in this new form of medical treatment,” said Kevin Smith, EPHS’s Vice President for Strategy and Business Development. “For those very reasons, we see Australia as the gateway to Asia, which it already is in various agricultural and pharmaceutical product categories.”
Members of the EPHS team will relocate to Australia to assist with the establishment and operation of the local cultivation facility.