Canadian company MYM Nutraceuticals (CSE: MYM) (OTCBB: MYMMF) has launched MYM Australia and established offices on the Gold Coast.
They have an ambitious plan for 400 hectares of outdoor medicinal cannabis cultivation in Henty, NSW.
MYM has two facilities in Canada, currently under construction, totalling around 14 hectares of greenhouses. They also have ambitions for a cannabis museum and a ‘cannabis university’ for industry training.
This announcement follows a recent announcement from Asterion about their 75 hectare facility in Queensland. Unlike MYM, Asterion will be cultivating indoors, with intentions to build six 10-hectare sized structures.
Many are skeptical whether there is a place for outdoor growing in Australia, considering the pharmaceutical structure of the regulations. However, with appropriate manufacturing, it is definitely possible to manage the inconsistencies that come with broad-acre cannabis.
Regardless, the regulations concerning security on medicinal cannabis cultivation in Australia are comprehensive and strict. Henty’s local security provider must be very pleased with MYM’s announcement.