From nature to patients….
Fellow stakeholders – we are in a great position entering into the 2022-23 financial year! With improved patient access and steady growth in GP’s prescribing medicinal cannabis for a variety of treatments, our company is strategically positioned for significant growth moving forward…
New prescribing guidelines released in November 2021 are a positive step forward as they help increase patient access to medicinal cannabis treatments and streamline access pathways for GP’s prescribing MC -reducing regulatory burdens and increasing face to face time for patients.
Our focus during the 2021-2022 financial year on building a premium product catalogue and listening to feedback has proved successful, as we are excited to announce a comprehensive range of new and innovative products. These products have been sourced from our strategic partners and are manufactured
in accordance with stringent c-GMP guidelines and TGO regulations.
As of 1 July 2022, SatiVite’s products included seven dried flower products (including three signature living soil organic), plus five oils. Our strategy of focusing on offering a quality medicine at a reasonable price is proving successful as we have achieved compound growth month on month, which has culminated in us being one of the few profitable MC companies in the sector. We are also proud to announce that SatiVite products have hit a key milestone this quarter, as we are now prescribed in every state in Australia. Pivotal to our strategy moving forward is to continue increasing our brand awareness, expand our distribution chain and strengthen relationships with our strategic partners, in order to secure a supply chain of leading genetic
products, expand our portfolio and satisfy increasing demand from our patients.
I am also proud to announce that on 30 June 2022, the Office of Drug Control officially advised that Sativite has been awarded a Cultivation and Manufacturing license for Stage One – Greenfields Cultivation at Emerald. This strategic development will help facilitate the next phase of growth for the company as we look to secure seed capital investors to finance development.
Our short-term focus will be on transitioning from research activities into sustainable green-fields cultivation of CBD strains. This will allow Sativite to become self-sufficient in the supply chain and focus on our core skillset. We are striving for vertical integration through strategic alliances in manufacturing and distribution channels, which will allow Sativite to not only continue as a leader in finished goods manufacturing, but also bulk supply to new emerging manufacturers of scheduled drugs for sale in Australia and overseas.
To build upon our successful year, we are currently growing our team through the appointment of key staff, including additional Medical Science Liaison’s (MSL) in Victoria and New South Wales. These specialists help support doctors through the provision of educational material on SatiVite’s unique medical cannabis range and assist with developing case studies on novel cannabinoid treatments in order to enhance knowledge within our nascent industry.
Improving distribution capabilities will reduce patient wait time to obtain our medicines. This is key to our patient centric model. Sativite’s products get noticed because they are different and high quality. We have placed ourselves in the market as a new tech focused company – not just another ‘canna-business’ in the market, ensuring we are supporting our patients’ journey to wellness
2021-22 Milestones:
- Significant sales growth – 3,000+ sku units per month
- Compound revenue growth – during November 2021 we achieved a key milestone as we are profitable and cash flow positive
- Profitable within 18 months – one of the few MC companies to achieve this allusive milestone
- PKF Audit two financial years (preparation for potential IPO)
- ODC License for Cultivation and Manufacture of MC (Medicinal Cannabis). The team of SatiVite are very excited by the decision of the Office of Drug Control to allow Sativite to start construction of a medical cultivation facility this will assist Sativite becoming the leading cultivator in Australia. This
process has taken over 24 months to achieve and will ensure Sativite is ready for the next step to become a major player in medicinal cannabis industry in Australia.
For more information, contact:
Mike Cleary
Chief Executive Officer
Sativite Group Limited
T: +61 1300 SATIVA
E: mike.cleary@sativite.com.au