Elixinol Global Limited (Elixinol Global or the Company) (ASX:EXL; OTC:ELLXF) is pleased to provide an update regarding the Board’s ongoing review of one of the Company’s subsidiaries, Hemp Foods Australia (HFA).
On 25 May 2020, Elixinol Global announced that the share purchase agreement (SPA) for the sale of HFA was terminated by the buyer due to non-satisfaction of a condition precedent in the SPA, citing COVID-19 impacts. At the time the SPA termination was announced, the Company said it would continue to operate the HFA business pending an evaluation of all opportunities to capitalise on HFA’s established position as one of Australia’s strongest hemp foods brand.
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