Securities will remain halted until Wednesday, June 30, or when an announcement is released to the market.
() (OTCMKTS:ELLXF) has been granted a trading halt pending an announcement regarding the proposed acquisition of CannaCare Health GmbH.
The halt will remain in place until the start of regular trading on Wednesday, June 30, or until an announcement is released to the market, whichever occurs earliest.
New partnership agreement with Health House International Ltd
The company is poised to enhance its service of the Australian CBD market under a new partnership with pharmaceutical distributor Health House International Ltd ().
From July, Health House’s Australian offshoot will distribute Elixinol’s hemp-derived CBD products in Australia via the Therapeutics Goods Administration’s (TGA) Special Access Scheme.
Ultimately, the agreement gives Elixinol access to the 5,700 Australian pharmacies that prescribe cannabinoid formulations under the scheme.
With the new agreement in tow, Elixinol hopes to put two of its hemp-derived products on the market by 2021’s third quarter.
“Contribution to people’s wellbeing”
Elixinol Wellness CEO Oliver Horn said the company was very excited to partner with Health House and bring its products to market in Australia.
“A fast-growing number of patients are receiving help in the form of CBD via the TGA’s Special Access Scheme and it is rewarding to know that soon our Elixinol products will make a contribution to people’s wellbeing.”