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.
Female managers twice as likely to face gender barriers as male counterparts, UK study finds
The findings underscore the persistence of gender bias and barriers.
Luca Arrigo and BetterPic launch AI fashion photography venture
His journey into AI fashion photography began two years ago.
How does a mid-week holiday feel? Local COO Glenn Debattista reflects on the Feast of St Joseph
As the nature of work continues to evolve, so too do conversations around how to best structure our time.
Roberto Debrincat appointed Director of Communications at ElectroGas Malta
His career spans various industries.
