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Jayex Healthcare shares more than double on licence agreement

Shares in the company were up 163% to 7.9 cents in the early afternoon.
concept of medical cannabis
The company provides integrated healthcare services delivery platforms

Jayex Healthcare Ltd (ASX:JHL) has formed a new medical cannabis technology subsidiary and executed a binding licence agreement with MediCann NZ Limited.

This marks a major milestone in the commercialisation of its Pharmacy Delivery 2 U (P2U) script processing technology and BluePoint remote dispensing technology.

Subject to conditions, MediCann will be granted the exclusive use and application of those technologies in New Zealand.

This is in connection with their proposed sale and distribution of medical cannabis products in line with the expected deregulation in New Zealand of medical cannabis.

Five dispensing terminals worth $500,000 to be sold

Under the licence agreement and subject to conditions, MediCann commits to purchasing a minimum of five BluePoint kiosks/remote dispensing terminals.

These will be used by MediCann for the sale and distribution of approved medical cannabis products in New Zealand.

The expected sale price for the five machines is about A$500,000, with additional fees for the software and the prescription processing to be agreed.

The completion of this initial order is subject to a number of conditions being satisfied.

MediCann co-founder to act as consultant

MediCann is an unlisted New Zealand public company, co-founded by Ross Smith, a New Zealand citizen and acknowledged global expert in medical cannabis.

Jayex has engaged Smith as a global consultant to advise the company on the commercialisation of its P2U and BluePoint technologies.

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