THC Global takes several initiatives in the December quarter to accelerate growth

THC Global Group Ltd (ASX:THC) (FRA:9TH) is gearing up for an exciting year with the launch of a new corporate strategy and repositioning towards high-value pharmaceutical manufacturing and healthcare. Over the course of 2021, the company expects to continue to expand its product range – both across its proprietary brands and as a distributor – as well as looking to further expand export opportunities including the United States, Europe, and the Asia Pacific. During the December quarter, THC has expanded its finished dosage forms production capability, commissioned new IT infrastructure, started operation of larger-scale equipment, and developed the company’s storage and warehousing capability for Schedule 4 and Schedule 8 medicines. Together, these changes enable the company to become a cost-effective competitor in the cannabis tolling and contract manufacturing industry with high volume capacity and having TGA and EU GMP licences.                                                                   Subject to shareholder approval, THC will be renamed Epsilon Healthcare Limited, representing the company’s refocussed approach towards high-value pharmaceutical manufacturing and healthcare services. The Southport Facility The company’s Southport Facility was also recently audited by the TGA as part of the company’s ongoing GMP licencing. The TGA has given the Southport Facility an A1 rating and accordingly a further routine inspection will not be required for three years. Following this inspection, the company is also expecting to soon receive approval to produce inhalation products. Medimar platform THC is also in the final stages of launching the Medimar platform, which offers a publicly accessible nutraceutical and healthcare products e-commerce platform, as well as a separate platform for registered prescribers, pharmacies, and patients to access medicinal cannabis medicines. This medicinal cannabis platform will reduce admin time for prescribers and pharmacies and offers a streamlined and transparent process for patients with medicinal cannabis prescriptions. New national sales team The company is currently onboarding a new national sales team consisting of five staff across Queensland, New South Wales and Victoria who will promote Medimar to prescribers and pharmacies. Most of the sales team have prior experience in medicinal cannabis, having been formerly employed by a supplier in the Australian market. Distribution agreements Medimar is expecting to secure distribution agreements with several key Australian cannabis suppliers before launch to ensure that the most prescribed medicinal cannabis medicines in Australia will be offered on Medimar at launch. In Canada, THC has continued to expand its turnkey cultivation solutions and hydroponics equipment business. In fourth-quarter 2020, THC launched a new fulfilment warehouse in Ontario, Canada, strengthening the company’s access to additional export markets including the United States.