Little Inexperienced Pharma prepares for ASX – firebird-cbdoil
The IPO of Australian medical cannabis company Little Green Pharma officially opened this week and quickly reached its goal of raising $ 10 million.
Little Green Pharma, based in Perth, Western Australia, was founded in 2016 and was a quiet success, which we mentioned here several times in the hemp magazine . It was the first company to harvest medical cannabis for commercial use in this country in May 2018. It was also the first Australian company to produce a medical cannabis product for patients with locally grown plants. LGP's products have been reported to have been used by more than 1,400 Australian patients.
The company currently has 3 products.
LGP Classic 20: 5
THC: 20 mg / ml
CBD: 5 mg / ml
LGP Classic 10:10
THC: 10 mg / ml
CBD: 10 mg / ml
LGP Classic 1:20
THC: 1 mg / ml
CBD: 20 mg / ml
All are available as 50 ml oral solution.
Little Green Pharma says that no pesticides are used in its cultivation facility and that there are no undesirable substances in the fertilizers used. The original LGP seeds come from one of the oldest cannabis seed banks in the world and are regularly tested for their heavy metal content. The company also has an eye on the wider environment and is examining sustainability options such as the generation of renewable energies or highly efficient gas CHP systems.
According to the OnMarket website about the IPO, Little Green Pharma is expanding its acreage to create production capacities sufficient to produce more than 110,000 bottles of cannabis flowers per year.
Already in September we mentioned LGP had exported a sample of its commercial medical cannabis products to a company in Germany for product testing. It looks like this went well. Little Green Pharam received its first order of 2,400 units to be shipped to this country after the expansion of the acreage was completed. LGP was granted an export license by the Federal Health Office in January 2019.
In comments on SmallCaps, Fleta Solomon, managing director of Little Green Pharma said .
The company hopes to make its ASX debut in February under ticker code LGP.