Elixinol Global Ltd (ASX:EXL) is the latest cannabis company to be admitted to the ASX and will commence trading from Monday, 8 January 2018.
The company has raised $20 million via an initial public offer of shares at $1.00 each.
Elixinol is already established in the U.S., where it manufactures and distributes industrial hemp-based nutraceuticals, dietary supplements and skincare products.
The company also owns Hemp Foods Australia, which was founded in 1999 and manufactures and distributes industrial hemp-derived products in Australia.
Elixinol’s strategy is to capitalise on the opportunities provided by being invested in a range of emerging cannabis related sectors including hemp, CBD (cannabidiol) nutraceuticals and wellness products.
New favourable cannabis regulation in Australia
Favourable legislative changes in Australia mean that Hemp Foods Australia is now permitted to sell hemp food products, offering the potential to expand distribution channels and grow its market.
In the medicinal cannabis sector, new legislation has been passed in Australia to