Asterion Feels Ready to Fill the Gaps in Australia’s Cannabis Market

Asterion Feels Ready to Fill the Gaps in Australia’s Cannabis Market

Asterion Cannabis Inc. President and COO Hamish Sutherland recently joined Proactive Investors to talk about the company’s Australian cannabis project and the opportunities the Australian cannabis market presents. The interview started with Sutherland’s views on the opportunities in the Australian cannabis industry. According to Sutherland, investors are looking to cannabis markets outside of North America for regions that are set up to serve the global markets quickly.

“Typically people look at the US as the elephant in the room, but the rest of the world is equally sized and equally moving forward with cannabis legislation,” said Sutherland. “Australia is well-poised to fulfill that role as the current Minister of Health has declared he’s seeking and looking forward to Australia establishing a role as one of the global suppliers. One of the reasons for that is that it is a regulated environment and market with a clear and consistent government on which other countries can rely.”

Sutherland went on to talk about Canopy Growth Corporation’s (NYSE:CGC,TSX:WEED) sale of its 13.2 percent interest in AusCann Group Holdings and what this means for the space moving forward. Sutherland feels that this will let other experienced, established cannabis companies to expand their offerings and move into the global cannabis markets. According to Sutherland, Asterion has the largest, purpose-built greenhouse in Australia that is designed to serve not only the Australia market but the global markets as well.

Asterion has submitted its licensing applications to the Australian Office of Drug Control (ODC) and expects to receive its licenses within the coming months. Sutherland emphasized that the company was working closely with the ODC to ensure that the company is compliant with all current and future regulations. The company is also working with several interested parties to ensure that Asterion can mitigate any pitfalls that have so far been experienced in North America.

To watch the full interview, click here.

Click here to connect with Asterion Cannabis Inc. for an Investor Presentation.

When Will Australia Legalise Recreational Cannabis?

Recreational cannabis remains illegal in all Australia’s states and territories with the exception of the Australian Capital Territory (ACT). But could that change in the future?

So far there are no clear indicators as to when or if Australia could legalise recreational cannabis, but attitudes seem to be changing. Public support is growing, and there’s even some political acceptance.

Read on to learn more about when Australia may legalise recreational cannabis.

Keep reading... Show less

A State-by-State Guide to Cannabis in Australia

Australia made waves when it federally legalised medicinal cannabis in 2016, and its marijuana market has experienced significant growth since then.

A study from FreshLeaf Analytics pegs Australian medical market sales at AU$95 million in 2020, while research firm Prohibition Partners indicates that Oceania’s cannabis industry is expected to be worth US$1.55 billion by 2024; medicinal cannabis is expected to account for 40 percent of the industry.

Despite that growth, the country’s cannabis industry is still young. Recreational use is not yet in sight, and even medical access remains limited and highly regulated.

Keep reading... Show less

Australian Cannabis: Forecasts, Analysis and Expert Advice

Are you ready to start investing in Australia’s growing cannabis market?

Dive right in with our FREE Special Report, Australian Cannabis: Forecasts, Analysis and Expert Advice

Keep reading... Show less

Cannabis in the ACT: The Market a Year Post-Legalisation

It’s been just over a year since recreational cannabis was legalised in the Australian Capital Territory (ACT), home to the nation’s capital city of Canberra.

Announced on September 25, 2019, and brought into effect on January 31, 2020, the rules make it legal to possess and personally use small amounts of cannabis.

Keep reading... Show less

Top News

Related News