Materia, a Canadian processor and distributor of medical cannabis and CBD wellness products, announced that its wholly owned subsidiary Materia Malta has received its Licence for the Production of Cannabis for Medicinal and Research Purposes from the Malta Medicines Authority.
This means that Materia Malta can begin commercially producing and exporting medical cannabis.
“We are delighted to be fully licensed and to begin generating revenues from our Malta facility,” Materia CEO Deepak Anand said.
“I’d like to congratulate our entire team for helping realise our vision of a state-of-the-art processing facility, especially in working through the circumstances presented by the pandemic over the last 18 months,” Mr Anand continued.
Materia Malta’s facility has an annual throughput capacity of 6,000kg, representing a potential sale value of €36 million.
“We are delighted to see Materia achieve this milestone,” Malta Enterprise CEO Kurt Farrugia said.
“We have been working closely with Materia since the beginning and the calibre of the team exemplifies the type of company we are proud to support here in Malta. We fully expect Materia to be one of the industry’s long-term leaders,” Mr Farrugia continued.
Materia Malta has already begun the process of importing its first batch of raw material for commercial production and will begin fulfilment of its supply commitments imminently.
David Power commented following the publication of the bank’s financial statements for 2022, where it recorded €12.2 million in pre-tax ...
‘Never overlook the fundamental concept that technology is always the tool, and never the actual solution.’
She will replace Elizabeth Hardy, whose three-year secondment in the position will end in June.
The Y Ltd Founder and Managing Director highlights how receptionists and cleaners can offer insight into how others are feeling ...