Elixinol Branded Products Rolled Out in New Zealand Market- Share Price Zoomed Up By 8.333%

Elixinol Branded Products Rolled Out in New Zealand Market- Share Price Zoomed Up By 8.333%

Elixinol Global Limited (ASX: EXL) had come forward and made an announcement related to the roll out of products in the market of New Zealand with the help of the press release. The company happens to carry out activities in the Industrial hemp as well as medicinal cannabis sectors. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

As per the press release dated January 23, 2019, Elixinol branded cannabidiol (CBD) products would be accessible on the basis of the prescription in markets of New Zealand with the help of the e-commerce website, i.e. www.elixinol.com. This launch comes after New Zealand’s Misuse of Drugs (Medicinal Cannabis) Amendment Act in the month of December 2018, as a result of which, CBD, which happens to possess lesser THC levels, would be available on the basis of prescription. Moreover, CBD would now not be considered as Class B1 controlled drug.

The release issued by the company also stated that topicals, capsules as well as tinctures which are Elixinol branded and includes liposomes happens to comply with a standard which is set for the import into New Zealand. The company is also getting the prescriptions, and it had also made an announcement with regards to the first shipment which has been successfully received in New Zealand. Let us now understand what Elixinol Global Limited’s management has to say. According to the top management of the company, there have been changes with regards to legislation associated with cannabidiol. In the month of December, the US Farm Bill went through and, as a result, CBD got de-scheduled from the Controlled Substances Act. With reference to the changes in New Zealand, the management of Elixinol Global Limited added that the company would now be able to provide CBD to those people who need them.

Not so long ago, the company had made an announcement related to the relocation of CFO (or Chief Financial Officer) and Company Secretary via the issuance of the press release. As per the issued release, Mr. Ron Dufficy would be relocating to the US so that the international growth opportunity for Elixinol Global Limited can be helped. The same release also stated that Ms. Kim Bradley-Ware has been placed as the Joint Company Secretary. Moreover, the company also stated that Elixinol Global Limited had also engaged Liolios so that its expansion, as well as increasing investor base, could be assisted. The management Elixinol Global Limited had stated that Mr. Dufficy happens to possess strong knowledge when it comes to operating in the markets which are highly regulated.

Let us see how the company’s stock has been performing today and it had performed in the past few months. At the time of writing (AEST: 3:06 PM, 23 January 2019), Elixinol Global Limited is trading in green as the stock price is A$2.990 per share which implies the rise of A$0.230 per share or 8.333%. The market capitalization of Elixinol Global Limited stood at ~$343.76 million. Moreover, in the span of previous six months and three months, the stock gave the returns of 85.23% and 55.93%, respectively.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Checkout our Free Dividend Stocks Report

Specially made for income-hungry investors, Invest in growing Franked Dividends an opportunity that should not be missed.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report