2 April 2020
COVID-19 Report extract
The Company does not anticipate having to raise additional funds in the foreseeable future as no further capex is required on the cultivation facility and significant pre-ordering of consumables associated with manufacturing was largely completed during the first quarter of CY2020.
To ensure LGP remains in a strong financial position given the current economic environment, LGP has been implementing measures to minimise its cost base, including a reduction in discretionary spend, deferral of non-essential research and development, and renegotiation of existing contracts.
In addition, to the extent permitted by the ASX Listing Rules the Board and key executives have agreed to take 20% of their salaries in shares (escrowed for 12 months).
26 March 2020
COMMISSIONING OF CULTIVATION FACILITY EXPANSION COMPLETE
•Little Green Pharma completes commissioning of cultivation facility expansion on time and on budget
•Expanded cultivation facility will allow production of up to 110,000 bottles of medicinal cannabis oil per annum, approximately 10 times current capacity
•First planting targeted for Q2CY2020, subject to Office of Drug Control permitting
•Expansion of LGP’s cultivation capacity will assist in fulfilling sales agreements for the German and UK markets