AusCann

Last updated
AusCann
ASX:  AC8
Headquarters35 Havelock Street,
Perth
,
Australia
Key people
 Mal Washer
RevenueA$1,981,664,000 (2023)
Total assets A$18,450,158,000 (2023)
Website auscann.com.au
Footnotes /references
[1]

AusCann is an cannabis industry company based in Perth, Western Australia.

Contents

History

AusCann was incorporated in September 2014, founded by former politician Mal Washer with businessmen Troy Langman and Harry Karelis. [2]

In May 2015, AusCann announced that they were planning to grow cannabis sativa on Norfolk Island. The two-hectare site would provide up to ten tonnes of product, with plans to export to Canada. [3] AusCann was the first company in Australia to be granted a license to grow and export medicinal cannabis. [4] AusCann also explored the possibility of growing cannabis on Christmas Island. [5] However, by late 2016, those plans were abandoned. [6]

In January 2017, AusCann executed a reverse takeover of TW Holdings, which was a public company listed on the Australian Securities Exchange (ASX). Soon after, TW Holdings was renamed AusCann Group Holdings and given the new ASX code AC8. [7] [8]

In May 2017, AusCann partnered with Tasmanian Alkaloids to produce cannabis at its facility in Westbury, Tasmania. [9]

CEO Layton Mills appeared on season 10 of Married at First Sight which aired in 2023. [10]

In September 2024, AusCann was delisted from the Australian Securities Exchange for failing to pay listing fees. [11]

In April 2025, AusCann signed a deal with Argent Biopharma to accelerate cannabinoid pharmaceutical development. [12] [13] The agreement reduces competition between the two firms and enables the sharing of technology. [14] [15]

See also

References

  1. ↑ "Annual Financial Statements" (PDF). AusCann Group Holdings Ltd. 30 June 2023. Retrieved 2025-04-28.
  2. ↑ Hannaford, Scott (2015-02-20). "King of cannabis Nevil Schoenmakers stages a quiet comeback". The Sydney Morning Herald. Retrieved 2025-04-28.
  3. ↑ Staff (2015-05-20). "Australia's Norfolk Island to export high-grade medicinal cannabis to Canada". The Guardian. ISSN   0261-3077 . Retrieved 2025-04-28.
  4. ↑ "Norfolk Island decision sparks calls to legalise medical cannabis". ABC News. 2015-05-21. Retrieved 2025-04-28.
  5. ↑ Hasham, Nicole (2016-01-02). "Christmas Island medical cannabis plan: community expresses concern". The Sydney Morning Herald. Retrieved 2025-04-28.
  6. ↑ "WA companies welcome decision to prescribe medicinal cannabis". ABC News. 2016-10-28. Retrieved 2025-04-28.
  7. ↑ "TW Holdings Ltd: AusCann strengthens its board of directors". Proactiveinvestors UK. 2016-06-02. Retrieved 2025-04-28.
  8. ↑ "TW Holding closes takeover bid for medical cannabis company AusCann". Proactiveinvestors UK. 2017-01-10. Retrieved 2025-04-28.
  9. ↑ KEMPTON, HELEN (May 17, 2017). "Poppy grower Tasmanian Alkaloids to expand into medicinal cannabis in joint-venture deal with AusCann". The Mercury. Retrieved 2025-04-28.
  10. ↑ "AusCann chief is looking for love". Australian Financial Review. 2023-02-07. Retrieved 2025-04-28.
  11. ↑ Buncsi, Patrick (2024-09-10). "ASX de-listings outpacing new entrants". Financial Newswire. Retrieved 2025-04-28.
  12. ↑ Jones, Steve (2025-04-23). "Argent Biopharma and Auscann sign deal to 'enhance drug development'". Cannabiz. Retrieved 2025-04-28.
  13. ↑ "Argent BioPharma and AusCann enter heads of agreement for cannabinoid drug development". biotechdispatch.com.au. Retrieved 2025-04-28.
  14. ↑ "Argent and AusCann partner to accelerate cannabinoid pharma development". The Australian. April 15, 2025.
  15. ↑ Stevens, Ben (2025-04-17). "Ananda Lists on US OTCQB Market, Argent Bio Signs Data Sharing Deal With AusCann, & IMC Under New Threat of NASDAQ Delisting". Business of Cannabis. Retrieved 2025-04-28.
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