Last Updated: Dec 06, 2018
Targeting Australia’s Pharmaceutical-Grade Cannabis Market
Asterion Cannabis Inc. is a vertically-integrated Canadian cannabis company with operations in Southeast Queensland, Australia. The company aims to be a leader in precision agriculture and to produce high-quality, low-cost and genetically-uniformed cannabis strains and products. To achieve this aim, Asterion is developing the world’s largest and most sophisticated state-of-the-art medicinal cannabis cultivation, research and manufacturing facility.
Asterion’s Queensland purpose-built facility is expected to be built in three phases now that the company has received its development approval permit from the Toowoomba Regional Council. Pending the approval of the company’s cultivation and sales licenses, Asterion intends to plant its first crop after Phase 1 has been completed. Once the facility is fully built-out, it is expected to produce over 500,000 kilograms of cannabis annually, allowing Asterion to help meet the demands of the Australian medicinal cannabis market.
Asterion has also strategically aligned itself with PreveCeutical Medical Inc. (CSE:PREV,OTCQB:PRVCF,FWB:18H), a preventive health sciences company focused on developing preventive medicine, to develop new cannabis-based preventive and curative therapies. The partnership with PreveCeutical plays into Asterion’s future product offerings, which could include tinctures, oils, edibles, flower and gelatin capsules with a variety of THC and CBD concentrations.
After Asterion filed its cannabis research license application, the company has also partnered with the Queensland Alliance for Agriculture and Food Innovation (QAAFI) at the University of Queensland for an 18-month, proof-of-concept research program. The program is designed to expedite the clonal propagation of elite selections of cannabis plants to ensure high-volume, uniform plant cultivation.
Asterion’s management team has over 140 years of combined experience in medicinal cannabis, renewable energy, capital markets, among other sectors, across North America, Oceania, Europe, Africa and Asia. Recent additions to the Asterion management team include COO Hamish Sutherland, who has experience in developing successful cannabis companies and was responsible for the first legal transfer of live cannabis plant material from Holland to Canada.
Asterion’s Company Highlights
- Developing a state-of-the-art 4.3-million-square-foot greenhouse facility in Southeast Queensland, Australia.
- Asterion plans to plant the first cannabis crop after Phase 1 of construction is complete.
- Projected annual production of over 500,000 kilograms of cannabis upon completion.
- Future product lines may include tinctures, oils, edibles, flower and gelatin capsules.
- Awaiting approval for cultivation and sales licenses.
- Strategic partnerships in place with PreveCeutical and White Sheep Corp.
- Asterion is conducting a proof-of-concept research program with QAAFI for cannabis cultivation.
- Management has over 140 years of combined experience in medical cannabis, renewable energy, capital markets, among other sectors across the globe.