Asterion Cannabis Inc. President and COO Hamish Sutherland talks about Australian cannabis opportunities and provides a project update.
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.