The report goes on to say
Perth-based MMJ PhytoTech, which made its ASX debut in January, is poised to enter the Australian market as an organisation which is able to grow, extract, refine and supply medicinal cannabis in pharmaceutical grade forms for controlled delivery.
An ASX announcement in October announced the company’s intention to enter the local market after the federal government said it was considering the legislation.
Spokesman Gaelan Bloomfield said the company had since then appointed leading Australian law firm Piper Alderman to act as legal counsel on this entrance.
He said it looked as if the Australian system could be very similar to the Canadian system in terms of its licensing scheme, a market where MMJ PhytoTech was already engaged.
MMJ PhytoTech already has operations in British Columbia, Canada and is currently selling its products in Europe.
“We know the Canadian licensing system so we are very well positioned to be on the front foot as Australian regulation evolves,” he said.
“The Canadian system is by far the most well structured regulatory system for medicinal cannabis [globally].
“As a company we support any regulatory reform in this area and we’re encouraged by these discussions at a federal level.