AusCann will begin planting trial crops of marijuana on the detention centre island Christmans Island ahead of its planned listing on the Australian Securities Exchange in early 2016.
Cannabis remains an illegal substance in Australia, but the federal government has flagged introducing a bill next year to legalise growing the plants for their medicinal uses.
In an article in the Sydney Morning Heralds, AusCann said that it was in the final stages of planning the trial planting which will include five varieties of cannabinoids sourced from leading Spanish company Phytoplant Research with which it has an exclusive partnership.
If the trial is successful, and federal laws are changed, AusCann will begin planting the first commercial crop for the domestic market in late 2016, managing director Dr Elaine Darby said.
"We have carefully selected Christmas Island for its isolation, climate and security," she said in a statement.
Last week, Australia's federal Health Minister Sussan Ley said the government would introduce a national scheme for the controlled cultivation of medicinal cannabis into parliament next year.
NSW is also expected to run the country's first trial of cannabis-based drugs treatment for children with epilepsy next year.
Source: SydneyMorningHerald.com
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