SYDNEY: Cann Global Limited announced that the Thailand Government will begin processing applications for licences to produce, import, export, distribute, and possess hemp on January 29, 2021.
This is a significant step in the development of a regulatory regime for the hemp industry in Thailand.
The requirements in order to obtain a license was published in the Government Gazette on December 30, 2020.
Prior to the recent changes hemp licenses were only issued to those undertaking research programs in Thailand.
Cann Global’s 55% owned subsidiary Cann Global Thailand (CGT) has been providing technical support for the last year to AA Bio Co Ltd relating to its hemp cultivation research program with the Uttaradit Rajajaht University.
CGT was established to provide a full-service offering to Thai clients relating to cultivation and extraction, which includes providing an international sales service.
In particular, CGT will be providing seeds, organic growing materials, extraction equipment, and information technology systems to manage cultivations. CGT will also be assisting with licensing applications and business planning.
Cann Global’s Managing Director Sholom Feldman said, “We have a full time expert team in place who have been preparing the groundwork and establishing partnerships and infrastructure to allow CGT to immediately capitalise on these regulatory changes.
The regulatory changes open the market up significantly to benefit CGT’s service-based revenue model and we look forward to maximising the value of our first mover status in this large new market.”
Cann Global Limited (ASX:CGB) is a driving force in the hemp and medical Cannabis industries.