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LGC Capital Ltd
Symbol LG
Shares Issued 357,839,734
Close 2018-08-22 C$ 0.135
Market Cap C$ 48,308,364
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LGC's Little Green receives authorization in Australia

2018-08-23 09:37 ET - News Release

Mr. John McMullen reports

LGC CAPITAL'S AUSTRALIAN MEDICAL CANNABIS LP LITTLE GREEN PHARMA BECOMES MARKET LEADER BY BECOMING FIRST AUSTRALIAN COMPANY AUTHORIZED TO SELL LOCALLY-GROWN AND MANUFACTURED MEDICINAL CANNABIS

LGC Capital Ltd.'s Australian medical cannabis company Little Green Pharma (LGP), has become the market leader in Australia by becoming the first Australian company to locally grow and produce medicinal cannabis products for sale to Australian patients. The first products are now ready to be delivered to patients. Its full media release is shown as follows.

Highlights:

  • Little Green Pharma becomes first Australian company authorized to sell locally grown and manufactured medicinal cannabis products;
  • Little Green Pharma becomes Australian market leader with this milestone;
  • Little Green Pharma's medical products are now available for Australian patients by prescription;
  • Little Green Pharma aims to offer the most affordable products on the Australian market and displace more expensive imported products.

Little Green Pharma is making high-quality and reliable medicinal cannabis products available to Australians. The medicines are cultivated, without pesticides, in a hydroponic facility in Western Australia's southwest region and processed in a manufacturing facility near Perth.

The products have been subject to extensive assessment and testing based on the Australian TGA regulation, before being distributed under Australia's tightly controlled medical prescription system.

Under the Australian system, medicinal cannabis products must be prescribed by medical practitioners and sold by registered pharmacists.

Medicinal cannabis is currently being prescribed in Australia for a variety of conditions with the Commonwealth Department of Health developing clinical guidance documents for the treatment of epilepsy, multiple sclerosis, chemotherapy-induced nausea and vomiting, chronic non-cancer pain, and palliative care.

Little Green Pharma's new corporate video release to coincide with the news that it has the first Australian locally grown and manufactured medicinal cannabis can be viewed on YouTube.

This news has also been reported by National Australian television on the Channel 7 network and can be viewed on Facebook.

John McMullen, chief executive officer of LGC Capital, stated: "This is a tremendous achievement for Little Green Pharma to be first to market as an Australian producer of medicinal cannabis and become the market leader in a very strictly regulated environment. LGC sees Australia as a key growth market for medical cannabis and a gateway into the very important Asia Pacific region."

Little Green Pharma's managing director, Fleta Solomon, said: "Local production and a more affordable treatment option would make a significant difference to thousands of Australians seeking medicinal cannabis products. At present, Australians who want these medicines have to buy expensive imported products or travel overseas for treatment. The advent of Australian production marks a new era for cannabis medicines. This will accelerate a vital and valuable science-based industry with significant export potential. Until now, some patients and the distressed parents of chronically ill children have sought out illegal cannabis suppliers to access potentially unsafe products. With the new regulations and the development of a controlled production and prescription regime, this trade is being displaced by the strict quality control requirements of the Australian government."

Information relating to Little Green Pharma

All information contained in this press release relating to Little Green Pharma has been provided to LGC by Little Green Pharma. LGC has relied upon this information without having made independent inquiries as to its accuracy or completeness and assumes no responsibility for any inaccuracy or incompleteness of such information. LGC currently has a strategic interest in Little Green Pharma of 14.45 per cent.

About LGC Capital Ltd.

LGC Capital is a leading investment firm with a focus on the legal global cannabis market. Through its portfolio investment companies, LGC is building a world-leading, vertically integrated system of interconnected legal cannabis companies with cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy and Canada serving domestic and export markets.

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