Little Green Pharma plans to list on the Australian Stock Exchange (ASX)
January 13 2020 - 9:22AM
Elixxer Ltd. (TSX-V: ELXR and OTC-QB: ELXIF)
(“
ELXR”)
- Little Green Pharma Ltd
(“LGP”) has applied to list on the ASX, with a
target listing date of February 7th, 2020 under the symbol
‘LGP’.
- Elixxer is currently the largest
shareholder and supports LGP’s expansion plan throughout Australia
and international markets into Europe.
- LGP is currently expanding
operations in Australia to increase their current production from
15,000 bottles of medical cannabis oil per year to over 110,000
bottles.
- Canaccord Genuity is acting as the
lead manager to LGP’s initial public offering.
LGP has lodged a prospectus and supplementary
prospectus with ASIC and has applied to list on the ASX. The
listing of LGP on the ASX will be a significant milestone event for
both LGP and Elixxer, and will recognize their work to date within
the Australian and European medical cannabis markets.
Elixxer first invested into LGP in 2017 and has
supported its management team throughout its corporate
evolution.
In August 2018, LGP launched its first medicinal
cannabis product in Australia. LGP’s current three-product range is
also anticipated to grow with future products in a proposed
research and development pipeline.
LGP has also received a 2,400-bottle order from
German distributor CC Pharma, with fulfilment expected to take
place following the completion of LGP’s cultivation facility
expansion. In addition, LGP has received conditional purchase
orders for products from Canada’s CannMart and New Zealand’s Kariki
Pharma.
Intellectual property and
clinical
development:
LGP holds a patent over a small particle
formulation with the potential to significantly reduce the
cannabinoid dosage required to achieve an equivalent therapeutic
effect compared to its existing products. LGP is currently scoping
a product development validation project for the formulation.
LGP holds an exclusive licence to exploit the
ARISE technology in connection with medicinal cannabis and has
recently entered into a research and development agreement with
Curtin University to explore new formulations of medicinal cannabis
that utilise the ARISE technology. ARISE is a supercritical
anti-solvent extraction technology which increases the surface area
of particles of active pharmaceutical ingredients with the
potential to increase absorption of drugs by the body.
LGP is also investigating a proposed partnership
with OBJ Limited (ASX:OBJ) to use their transdermal patch
technology to deliver cannabinoid therapy with product
development services to be provided by researchers at the Curtin
University in Western Australia.
In addition, LGP is involved with five clinical
investigations studying cannabinoid medicines, including the
company’s own medicinal cannabis oil products.
Elixxer sees its share position in the LGP as a
long-term investment, as this is the beginning of the company’s
expansion and development into a global operator. Elixxer
will continue to support LGP’s future expansion plans and will
assist, where needed, with its international expansion plans.
Management and the Board of Elixxer have also
donated to the Australian Red Cross to support the aid and recovery
efforts in the wake of the devastating bushfires in Australia.
Canaccord Genuity (Australia) Limited is acting as lead manager
to LGP’s initial public offering.
About Elixxer Ltd.
(www.Elixxer.com)
Elixxer Ltd. is a leading cannabis
investment firm with a focus on the legal global cannabis market.
Through its growing portfolio of investment companies, ELXR is
building a transversal integrated organization of interconnected
legal cannabis companies with cultivation, processing and
distribution in Australia, Jamaica, Switzerland, Italy, and Canada
serving domestic and export markets. Elixxer Ltd. is a Canadian
incorporated public company listed on the TSX Venture Exchange
(TSX-V: ELXR) and the US OTC-QB exchange (OTCQB: ELXIF).
For further information please
contact:
President, John McMullen, +1-416-803-0698,
john@elixxer.com
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