Cannasouth to Sell Verified Dried Cannabis Flower

Following the recent verification of its two CBD Oral Solutions products announced last week Cannasouth Limited (NZX:CBD) is pleased to announce the successful assessment of its first three dried cannabis flower products by the Medicinal Cannabis Agency.

The verification provides the market with the first New Zealand dried cannabis flower products that are 100% grown, processed, and packaged locally, for use by local patients. It sets the benchmark in New Zealand’s rigorous regulatory environment and its current reliance on imported products (including products which are exported for processing and re-imported).

Cannasouth successfully merged with Eqalis Group on June 1, 2023, providing Cannasouth with integrated operational capacities, creating the largest NZX listed medicinal cannabis company, and delivering end-to-end GMP manufacturing capabilities.

Cannasouth CEO Mark Lucas says “In countries like New Zealand, where medical cannabis is now legal, the price difference between the current green (legal) and black market is enormous. Our goal is to bridge this gap by offering high-quality, competitively priced products, thereby shifting the paradigm from the black (illegal) to the green users market. This is a win-win situation, providing better patient access to safe medicinal cannabis while creating a robust, legitimate market that drives economic value and shareholder returns."

Looking ahead, Cannasouth is leveraging its strengthened position, especially as it rolls out its pipeline of new products to expand market opportunities in Australasia, drive down costs for patients, and deliver value to its shareholders and the community at large. The company’s global ambitions are underpinned by disruptive processing and drug delivery technologies, which will provide the next wave of revenue, building on near-term sales.

A list of all medicinal cannabis products that meet the New Zealand minimum quality standard can be found here: https://www.health.govt.nz/our-work/regulation-health-and-disability-system/medicinal-cannabis-agency/medicinal-cannabis-agency-information-health-professionals/medicinal-cannabis-products-meet-minimum-quality-standard

-ENDS-

For further information visit www.cannasouth.co.nz or contact:

Mark Lucas
CEO / Executive Director
Email: [email protected]
Mobile: 021 484 649

Colin Foster
CFO / Company Secretary
Email: [email protected]
Mobile: 027 577 1498

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Announcement PDF