INN caught up with Fleta Solomon, an Australian cannabis executive, on the state of the investment market and the outlook for this sector.
Fleta Solomon, managing director of pharmaceutical grade medical cannabis producer Little Green Pharma, is confident in the investment interest for the Australian cannabis market.
Solomon talked with the Investing News Network (INN) during her time at the MJBizConINT’L event in Toronto. She acted as a panelist in a talk about the potential for global hemp and cannabis opportunities.
Little Green Pharma is a producer of cannabinoid medicine in Australia, a market in which it has approximately 1,000 patients.
“It’s just now that we’re starting to see where Canada was probably at the beginning of 2015, which is that exponential growth in patient numbers,” she said.
While Solomon confirmed many are speculating on the potential for legalization in Australia, she said her company is focusing on the pharmaceutical side of the industry with developments in drug delivery.
“We have a lot of support from investors in Canada but, like I said, we don’t even really need to go outside of Australia, because the Australia investors are very hungry,” Solomon told INN.
The executive said the investor base in Australia is very savvy when it comes to cannabis plays and, at this point, they are aware of the real operating companies.
When asked about the relationship between Canadian companies and Australian ones, Solomon said a variety of local firms elected to secure partnerships with cannabis giants in Canada. Little Green Pharma decided not to do that so as to avoid a connection to the recreational market.
“I think for us our philosophy is the medical space… we just didn’t want to be pigeon holed with us (having) a bigger brother (into) recreational,” she said.
Similarly, the executive added Canadian investors have shown interest for the Australian cannabis investment markets.
“I think investors are very hungry, they’re very supportive. However, we did see an early rise of a number of Australian listed companies that probably listed a bit too soon,” Solomon said.
In September, the firm was able to export locally grown medicinal cannabis product to Germany through a partnership with Cansativa.
Watch the interview above to hear the rest of Solomon’s comments from the cannabis event.
Don’t forget to look for the rest of our coverage of MJBizConINT’L, with exclusive interviews and more insights from the show. You can also follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.