(Note: This story has been updated from an earlier version.)
CanniMed Therapeutics, a Canadian federally licensed medical marijuana producer, said it delivered the first commercial shipment of cannabis oil to Australia and has received an additional order for more product.
Canadian MMJ companies increasingly have been tapping the export market. And CanniMed is among those targeting Australia’s emerging medical cannabis market. Tilray – another Canadian MMJ cultivator – said Tuesday it had completed its first bulk medical cannabis export to Australia.
Saskatchewan-based CanniMed said in a news release it completed the sale and delivery of 3,600 milliliters of CanniMed Oil to Health House International, a medical cannabis wholesaler in Perth, in Western Australia. The oils are for ingestion rather than vaping. In Canada, a 60-milliliter bottle retails for 200 Canadian dollars ($146).
After completing the shipment, Cannimed received three more import permits from Health House that were issued by the Australian Department of Health.
The new permits are for an additional 360,000 milliliters of CanniMed Oil products to be shipped by the end of September, pending the granting of export permits from Health Canada to CanniMed.
The exports to Australia increase CanniMed’s potential market to 60 million people, company CEO Brett Zettl said in a statement.
CanniMed listed on Toronto Stock Exchange last December, and trades under the ticker symbol CMED.