One of the country’s largest medicinal cannabis companies Australian Natural Therapeutics Group (ANTG) expects to quadruple its production capacity following the acquisition of a licensed cultivation and pharmaceutical manufacturing facility near the Brisbane Airport for an undisclosed sum.
In April last year the Byron Bay-headquartered group struck a deal to merge with Canadian multinational Asterion Cannabis with plans to build a $400 million medicinal cannabis growing facility near Toowoomba, Queensland. That agreement fell through in early 2022, but the company has kept the Sunshine State in its sights.
“We’ve been negotiating for a number of months – not just the acquisition but also the license transference across to our company, both TGA (Therapeutic Goods Administration), GMP (Good Manufacturing Practices) licensing and ODC (Office of Drug Control) licensing as well,” ANTG CEO Matt Cantelo tells Business News Australia.
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