The Kennard family is the first external investor in Australian Natural Therapeutics Group, which will quadruple production through a new facility in Brisbane.
Self-storage and equipment hire kings the Kennard family are backing the expansion plans of one of Australia’s biggest medicinal cannabis firms amid expectations the alternative healthcare product could become “bigger than coffee” globally over the next few years.
ANTG’s Brisbane acquisition – the former operations of cannabis firm Rapid Growth, which traded as Pure Cannabis Australia – complements the Byron Bay-based company’s existing network, comprising a main commercial greenhouse and manufacturing plant in Armidale, NSW, and a research and development centre at Pitt Town on Sydney’s outskirts.
“This is the fastest-growing industry in the world and is on track to surpass coffee in terms of global revenue.”by Prohibition Partners estimated that global sales of CBD , medical and adult-use cannabis amounted to US$44.2 billion this year and could be worth more than US$100.4 billion by 2026.Prohibition Partners forecast Australia’s medicinal marijuana industry to be worth $1.6 billion by 2026, having been worth just over $50 million in 2020 and about $200 million this year.
Another is Incannex Healthcare , which in May raised $13 million from institutional investors to fund the development of new products.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nurse who survived WWII massacre to be first woman honoured with an Australian War Memorial statueBroken Hill nurse Vivian Bullwinkel was the sole survivor of the Banka Island massacre, in which 60 soldiers and 22 nurses were killed. It's hoped that one day, she'll also be a household name.
Read more »
‘Remarkable Australian story’: Tiny Jurassic teeth rewrite history of mammalsA controversial research paper argues the ancestors of the world’s mammals, including humans, evolved in Australia and the southern hemisphere.
Read more »
Australian cricket star Glenn Maxwell lists Aberfeldie home after shock injury - realestate.com.auThe former Stars captain is keeping busy while he’s out injured, putting his four-bedroom property on the market in hopes of a pre-Christmas sale. SEE INSIDE
Read more »
South Australian crypto player took funding from FTX, AlamedaAn under-the-radar Adelaide-based web3 and crypto start-up secured seed funding from FTX as its StepN coin boasted a peak $2.4 billion valuation.
Read more »