Auscann Group Holdings (OTCMKTS:ACNNF) is a company operating from Australia. It majorly focuses on the production and sale of medicinal cannabis. In today’s statement, the business guru disclosed details regarding its latest cultivation deal with Khiron.

The state of affairs

The company hopes that the DayaCann joint venture will swing into operation any time soon.

Khiron conducts its business operations from Canada and has achieved quite much in line with the production of medicinal cannabis. The business also conducts a huge deal of its operations from Colombia.

It was in the previous year that for the first time Auscann pronounced the MOU between Khiron and DayaCann.

The plan entailed the two businesses coming together in a joint move to develop medicinal cannabis products. The two agreed upon marketing the products in Chile. They advocate for the use of cabbabinoid medicines for wellness needs.

They seek to engage in cultivation, manufacturing and above all commercial and scientific activities.

A close outlook

The terms of the agreement provide that DayaCann will deliver manufacturing services to Khiron. At the moment, DayaCann is making preparations that will see it succeed in the cultivation of cannabis plant material.

The clinical trials will utilize the materials, and soon Khiron will pay DayaCann its dues. Dr. Paul MacLeman is the current Chief Executive Officer of AusCann, and the official applauds the latest MOU. He sees Khiron as an ideal partner promising to co-operate with it fully.

AusCann seeks to serve Khiron with top quality medicinal cannabis material. It fully supports the move to serve the patients in Chile with the very best in terms of medicinal products.

MacLeman says that it is the first stage of their co-operation and he looks forward to better things to come. The official supports every move targeted towards addressing the various unmet medical needs.

AusCann has also pronounced the establishment of its research and development facility. The company says it will channel its efforts and resources towards the development of its cannabinoid-based pharmaceutical products. Market observers applaud the move insisting that there is a growing demand for the innovative formulations.