Joondalup-based medicinal cannabis hopeful AusCann Holdings has secured $33.4 million from local and North American institutions, with NYSE-listed marijuana play Canopy Growth Corporation upping its stake to 11.2 per cent.
A University of New South Wales study has called for caution about the potential benefits of medicinal cannabis to relieve pain, but a Western Australian hopeful in the sector is still confident for the future of the industry.
Margaret River winery Vasse Felix is set to acquire the principal assets of Watershed Premium Wines, under a $20 million deal that allows Watershed’s cellar door and restaurant to continue operating under a two-year lease agreement.
The creditors of sandalwood company Quintis, led by US group Blackrock, have proposed injecting $175 million to take control of the business, in a deal that is likely to leave shareholders with no return.
Brownes Dairy is chasing extra supplies for its expanded cheese factory in the state’s South West and is believed to have approached the Lactanz cooperative and two farmers who were told last year their milk wasn’t needed.
Australian businesses can be confident that strong personal relationships with their partners in China can help overcome any short-term problems between the governments of the two countries, according to two local business executives with close ties to the Asian powerhouse.
The federal government has endorsed changes to the livestock export industry designed to improve animal welfare but the WA government says it may still try to ban live sheep exports to the Middle East during the northern hemisphere summer.
The $5 billion Northern Australia Infrastructure Fund has finalised its second deal, providing nearly $30 million to a barramundi farm in the Northern Territory, two weeks after chair Sharon Warburton stepped down.
Milk production in Western Australia has recovered to levels approaching those before the industry’s deregulation nearly two decades ago, a recent report has found, while the number of milk-producing farms in the state has fallen significantly.