MedCana Seeks Expansion into the Australian Pharmaceutical Cannabis Market Amid Projected Industry Growth

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Oct 03, 2024, 10:18 ET

AUSTIN, Texas, Oct. 3, 2024 /PRNewswire/ -- MedCana (OTC: SFWJ), a holding company specializing in agricultural technology and the cannabis industry, is actively analyzing opportunities to enter the Australian pharmaceutical cannabis market. With Australia's medicinal cannabis industry expected to grow substantially, the Australia legal cannabis market size is expected to reach USD 540.6 million by 2030, registering a CAGR of 27.8% from 2024 to 2030. MedCana aims to establish a presence not just as an exporter but also as a licensed producer.

According to the latest reports, Australia's medicinal cannabis industry is poised for significant growth. This is driven by increasing patient demand, favorable regulatory changes, and expanding access to medicinal cannabis treatments. This dynamic market presents a ripe opportunity for companies like MedCana to bring their expertise in high-quality, pharmaceutical-grade cannabis products to the region.

MedCana's CEO, Gabriel Diaz, commented on the company's potential entry into Australia: "We see an incredible opportunity in Australia's growing medicinal cannabis market. The growing demand for high-quality pharmaceutical cannabis has created a perfect moment for MedCana to expand quickly, not only as an exporter but also as a licensed holder within the country. We are excited about the possibilities that lie ahead and are committed to building strong partnerships within Australia."

MedCana is committed to ensuring that all its subsidiaries follow stringent certification processes to meet global Good Agricultural and Collection Practices (GACP). With this approach, the company is positioned to meet Australia's rigorous pharmaceutical standards, ensuring that it can provide the highest quality products to a growing and increasingly sophisticated market.

About SFWJ/MedCana
Software Effective Solutions/MedCana is a holding company focused on developing companies in the agricultural technology and the cannabis industries. As MedCana moves forward with its expansion plans, the Company remains committed to delivering on its promise of building a solid foundation for future growth of its holdings.
For more information, please visit: www.MedCana.net

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SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SOURCE MedCana