Elixinol Global takes its CBD products into New Zealand

Company News

by Rachael Jones

Cannabis stock Elixinol Global (ASX:EXL) has just branched into New Zealand with Elixinol branded cannabidiol (CBD) products are now available on a prescription basis.

Elixinol deals in the hemp, dietary supplements and emerging medicinal cannabis sectors.

This launch follows the passage of New Zealand’s Misuse of Drugs (Medicinal Cannabis) Amendment Act in December 2018, which classifies CBD with low levels of THC as prescription medicine and removes CBD as a Class B1 controlled drug.

Under the Act individual patients may now import up to a three-month supply of CBD products, provided those products meet prescription medicine guidelines.

Patients in New Zealand can also enter or leave New Zealand with up to three months’ supply of CBD with evidence of prescription.

Shares in Elixinol Global (ASX:EXL) are trading 6.88 per cent higher at $2.95.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.