Business
What will Elite Cannabinoids mean for ASX cannabis shares?
In what may be a catalyst for ASX cannabis shares, a private company today gained approval to grow medicinal cannabis in Western Australia.
As reported by the ABC, the private medicinal cannabis company Elite Cannabinoids has received approval for growing a range of different cannabis strains at a secluded location 800km north of Perth.
High-level details for Elite Cannabinoids
Elite Cannabinoids recently gained its license for growing medicinal cannabis. The company will now be able to utilise 46 hectares of land in the production of cannabis. Additionally, the company expects to have an onsite pharmaceutical manufacturing facility. The combined enterprise should generate more than 60 jobs for the Gascoyne region.
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