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Australian medicinal cannabis and hemp seed foods company, Cann Global Ltd (ASX:CGB) is involved in growing and cultivating hemp for the research and development of medicinal cannabis products to tap the booming opportunity in growing cannabis markets in Australia as well as across the globe.
Source: Company Presentation
Cann Global is originated from Queensland Bauxite, a mining player that has now transitioned into cannabis space. Queensland Bauxite, which was listed on the official Australian Stock exchange under the ASX code (QBL), is now re-listed as Cann Global Limited under the code (CGB); since then it has come a long way given its robust transformation strategy from mining to medicinal cannabis/hemp seed foods/pharmaceutical divisions. Worth noting is the fact that the Company continues to retain its existing Bauxite Projects.
Shedding light on Companyâs twelve-month re-compliance of business activities to become a multi-national Medical Cannabis, Hemp seed food and all natural foodâs Corporation including two fully vertically integrated businesses and 12 subsidiaries, Executive Chairperson of Cann Global, Mr Pnina Feldman, is of the belief that Cann Global has now become a company of choice for global venders looking for high-quality premium Australian food products.
T12 to deliver Chia Seeds to EPCO Foods
T12âs business segments were one of the first to mark the Chia Seeds presence in the Vietnamese market around five years back. Cann Global acquired T12 as its brands stress upon the excellence of Natural Food production and is now developing an additional range of hemp seed food for the Company.
Below are highlights of the Vietnam Distributorship signed by T12 Holdings Pty Ltd (part of the Cann Global Group of companies, that include Hemp Hulling Co, VitaSeeds, Medical Cannabis Limited and Medical Cannabis Research):
Reportedly, a total of 35k packaged products and 8 Metric Tonne (MT) of Chia Seeds Bulk will be exported for retail distribution through the EPCO Food retail store network in Southeast Asia, while the first 5 MT has already been shipped.
T12 to deliver HEMP Seed Foods in Vietnam
Considering the high demand for quality Australian food products in Asian markets, the focus of EPCO Foods is centered on the high-end Vietnamese based grocery stores like the "Lotte Supermarkets" (Korean Chain), "Big C Supermarkets" Eco Fruits (French Chain) and their own EPCO stores âBig C Supermarketsâ across Thailand, Vietnam and Laos.
In this context, on 5 September 2019, a long term, ongoing, Australia/Asia supply consumables contract was signed between T12 and EPCO Foods Co. Ltd, allowing T12 to continue with its expansion plans of providing quality product into the Asia/Southeast Asia region.
Under this agreement, T12 is required to export, on an on-going monthly order, 20MT of AGN packaged Chia Seed products to EPCO Food as 250g, 500g and 1kg satchels and bottles, with its first order including a supply of 26MT of AGN Chia seeds scheduled to be processed and dispatched in September and October 2019.
Mr. Sholom Feldman, Cann Globalâs MD stated that the distribution export agreement with EPCO Foods further validates the companyâs business commitment to provide high quality Australian produced organic hemp seed and natural foods consumables to both the Australian and Asian markets.
The Board further anticipates that the T12 range of natural products and hemp seed is expected to significantly strengthen Cann Globalâs revenue and cash flow position.
T12 to supply Costco
On 29th August 2019, the company announced that its T12 Food business segment has become an official supplier to one of Australiaâs largest Food Retailers, Costco Australia. This marked a significant step on the road to develop a strong relationship with the global wholesaler, securing its first order of 6900 bottle purchases for VitaHemp, certified organic hemp oil capsules. The Company is soon expecting the purchase order for other T12 products.
Emphasizing on T12âs philosophy of setting high standards in food production and manufacturing, along with Organic certification & an expanding relationship with Australian âbest practiceâ farming techniques, the Company guarantees that its T12 food products will become a âproduct of choiceâ for Australian and International Food consumers.
CGB last traded at A$0.034, up by 3.03% as on 24 September 2019.
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