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Queensland Bauxite gets results from winter cannabis crop

Potential market updates are expected regarding production, marketing and distribution agreements
Cannabis plants
Shares have doubled in 2017 to $0.011

Queensland Bauxite Ltd (ASX:QBL), through its subsidiary Medical Cannabis Limited (MCL) has received a successful update regarding its winter cannabis crops.

This follows on from the early-July update that confirmed successful germination and growth rates of its pioneering winter cannabis crop.

There have been very few serious winter trials in Australia and information as to the success of these trials is scarce and uninformative.

MCL began a winter growth of cannabis so as to be ready for production as soon as hemp food becomes legal in Australia at the end of this year.

READ: Queensland Bauxite aims for early mining at South Johnstone project

Positioning itself to be the dominant producer

The company is actively negotiating production, marketing and distribution agreements and market updates can be expected once these are finalised.

MCL is well positioned to be the dominant producer of Australian-grown and produced hemp food products.

Medical cannabis research program

The company is also significantly progressing its medical cannabis research and development programme.

It has been assessing various world class strategic relationships to ensure maximum value and productivity from its cutting edge work plan.

The work plan includes:

- Research into the unique cultivars and seed bank that the company owns to maximise its market value; and
- utilising cutting edge technology and research to create legal, consistent and approved medical cannabis products in the relative short term.

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Queensland Bauxite Ltd Timeline

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