Ann: S3 Trial update, page-19

Indeed. ECS grow both outdoors and in protected cropping enclosures that only cost $200k to build and bring in $700k p.a. in revenue. They've also just posted their first operating profit.

Medibis just put their $180m new facility they were planning to build on hold and LGP lost out on a tender to supply the Italian government because they were too expensive. The winning bid was 30% below LGPs cost of production.

I think we are starting to see the initial impacts of the trend to global commoditisation of medical cannabis as prices continue to be pressured downwards. It's the lowest cost producers who will be able to thrive if I'm correct.