Shares on fresh high

SHARES in Southport-based medicinal cannabis processor Epsilon are on a high after the company announced a budding new deal.

Cannim, a cultivator in Jamaica and Australia, has engaged Epsilon as its Australian manufacturing partner at the geared-up Southport Facility in a two-year agreement.

The first products have been delivered and released to patients by Epsilon under Cannim’s “Hummingbud” brand.

Shares in Epsilon were up more than 7 per cent to 15c at midday on Friday, following Thursday’s announcement.

Epsilon has packaged and released the first batch of Cannim’s “Hummingbud” dried flower products, the bulk of which are grown in Jamaica on a 500-acre farm.

In its statement to the ASX, Epsilon said Cannim had significant supply agreements for flower and oils into Germany, the UK and Australia.

“Under the manufacturing agreement, Epsilon’s world class EU GMP compliant Southport Facility will produce medicinal cannabis products from Cannim raw material at scale for supply into the Australian market as well as for global export,” the statement said.

The products are available for prescription now, and can be prescribed by Tetra Health – Epsilon’s wholly owned clinic network.