Elixinol Global Limited’s (ASX: EXL) rapid growth due to consumer interest for hemp derived products

KEY TAKEAWAYS:

• EXL’s rapid growth is being driven by a number of factors, not least being the huge growth in consumer interest for hemp derived CBD (cannabidiol) products.
• Since listing, it has been an extremely productive time for EXL, in October revenues reached 159%.
• Elixinol have announced further investments with Japanese distributor, Elixinol Japan.

EXL’s rapid growth is being driven by a number of factors, not least being the huge growth in consumer interest for hemp derived CBD (cannabidiol) products.

Elixinol boasts an extensive range of hemp-derived CBD products, including hemp oil, tinctures, capsules, topicals and ointments, which are currently being sold in international markets around the world.

The US Farm Bill was passed recently which decouples hemp from its cannabis cousin, marijuana, and permanently removes hemp from the Controlled Substances Act. This will substantially open up access to be able to trade and market Elixinol products in the US.

Following the companies debut on the ASX, EXL was excited to commence trading on the US OTCQX in August 2018 under the ticker code, ELLXF.

In November, it was announced that EXL had completed a further investment into Japan, by acquiring 50.5% controlling interest in our Japanese distribution company, Elixinol Japan.

The $2.2 million investment was funded through existing cash and will provide working capital to scale the Japanese business for anticipated growth in hemp-dervied cannabidiol (CBD), hemp foods and skincare markets.

In October, EXL was delighted to report substantial growth, finishing with revenues up 159% in
comparison with the same quarter in 2017.

On December 8, Elixinol announced the release of SATIVA, a hemp-based skin care and hair care line. The 100% plant-based products are backed by world-class ethics including carbon neutral packaging and cruelty-free testing.

In October, Hemp Foods Australia launched the first of its finished products by way of the Essential Hemp range of snack bars in the following flavours: Salted Caramel Crunch, Ginger Macadamia Turmeric and Choc Banana Coconut.

CEO Paul Benhaim and CFO, Ron Dufficy met with investors in Australia, Asia, Canada and the United States, and also spoke at a number of investor conferences, including the Bell Potter Emerging Leaders investor day, CannaTech and Wholesale Investor conferences in Sydney, the
Australian Microcap conference in Melbourne and Cowen’s Boston Cannabis conference.

 

About Elixinol Global Limited (ASX: EXL)

Elixinol Global Limited (ASX: EXL; OTCQX: ELLXF) through its businesses has a global presence in the cannabis industry including hemp-derived CBD dietary supplements, hemp food and wellness products, as well as cultivation and manufacture of medicinal cannabis products.

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