Proactive Investors - Run By Investors For Investors

Elixinol Global purchases site for state-of-the-art Australian manufacturing facility

The company has purchased the property for $2.6 million in the Northern Rivers district of NSW.
Elixinol Global purchases site for state-of-the-art Australian manufacturing facility
Elixinol Global has a global presence in the cannabis industry with its hemp-derived CBD dietary supplements

Elixinol Global Ltd (ASX:EXL) has further developed its Australian medicinal cannabis business with the purchase of a property for an integrated cultivation and manufacturing facility.

The property is a unique 60-acre lot with the first stage of planning involving a 5,000-metre footprint on a secured 4.9-acre block within the area.

READ: Elixinol Global attracts $40 million to accelerate international growth initiatives

Elixinol Global CEO Paul Benhaim said: “We are confident that our expertise in creating high-quality cannabis formulations in the USA under our Elixinol brand will position Nunyara to take a leading role in the establishment of the Australian medical cannabis industry.

“Our purchase of this unique property is simply another step in that process.”

Capacity to expand

The company will have the capacity to expand the proposed greenhouses as well as in-built expansion capacity within the GMP-certified pharmaceutical-grade manufacturing facility.

The Australian subsidiary has also been changed its name from Elixinol Australia Pty Ltd to Nunyara Pharma Pty Ltd (Nunyara).

 

 

Nunyara is an Australian indigenous word meaning ‘to be made well again’.

The name change is designed to differentiate the medical cannabis activities of Nunyara from those of EXL’S Colorado-based business, Elixinol, which is focused on hemp-derived CBC dietary supplements and fast-moving consumer goods.

Nunyara was formed in 2014 to participate in the emerging Australian medicinal cannabis market and submitted licence applications for cultivation and manufacture to the Office of Drug Control in early 2018.

These applications are pending approval.

- Jessica Cummins 

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full EXL profile View Profile

Elixinol Global Ltd Timeline

Related Articles

FSD Pharma facility
June 11 2019
The indoor hydroponic facility will be optimized for large-scale, medical-grade cannabis production and once complete, is expected to have over 3.9 million sq/ft available for production
RYAH vaporizer and cartridges
May 16 2019
RYAH is the first cannabis vaporizer that lets users precisely regulate dose and temperature
cannabis plant
May 06 2019
The cannabis company invests in income-producing property and provides financing solutions and capital investment to service the blossoming cannabis industry

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use