Global law firm Norton Rose Fulbright has advised Asterion (Australia) Pty Ltd on what will be one of the largest purpose-built medicinal cannabis greenhouse facilities in the world.
The $450 million production facility, located near the regional hub of Toowoomba, Queensland in close proximity to the Toowoomba Wellcamp Airport, has been awarded ‘Major Project Status’ by the Federal Government, recognising the national and strategic significance of the project through its contribution to economic growth, employment and contribution to regional Australia. The facility is planned to be automated and powered by renewable energy and is expected to have annual cannabis production capacity of approximately 500,000kg.
The Norton Rose Fulbright team advised Asterion on the acquisition of land and required licenses, consents and approvals necessary for the subsequent development, establishment and operation of a 75 hectare, highly secure and purpose built greenhouse facility for the cultivation, production and export of bulk high-quality medicinal cannabis.
Norton Rose Fulbright partner Tom Young led the team and commented:
"We are grateful to have worked with the Asterion team on such a bespoke and cutting edge project that will deliver benefits, not only to the Queensland economy, but also to the health of people around the world.
“We undertook extensive due diligence of many potential sites in south-east Queensland in order to identify a property which would meet all of our client’s requirements, including appropriate growing conditions, tenure, zoning, access to labour and export markets, and which could accommodate all regulatory requirements for the cultivation, processing and transport of medicinal cannabis.
“This was a unique opportunity for us to apply our extensive property, aviation, planning and development knowledge to a large infrastructure project of international significance, governed by a newly developing area of law.”
Along with Tom Young the team consisted of Brisbane and Sydney-based partners Keira Brennan, Rebecca Hoare, Peter Mulligan and Greg Reinhardt; special counsels Julie Brown and Adam Carlton-Smith; senior associates Meg Johnson, Peta Bunce, Rebecca Ebzery, and Matthew McKeown; and paralegal Gail Reade.
For more information, contact:
Alex Boxsell, Head of Digital Content & Campaigns, Norton Rose Fulbright in Australia
Tel: +61 (0)2 9330 8165 Mob: +61 (0)414 985 556
Deanna Kress, Director of Communications & Investor Relations, Asterion Cannabis Inc.
Notes for editors:
Norton Rose Fulbright
Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.
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Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.