Elixinol Global Initial Public Offering (“IPO”)
Elixinol Global Limited (the “Company”) is pleased to announce the successful completion of its initial public offering (“IPO”) of shares and its admission to the official list of the Australian Securities Exchange (“ASX”).
The Company commenced trading on the ASX on 8 January 2018 following a successful $20 million capital raising underwritten by Bell Potter Securities. The purpose of the IPO is to provide the Company with the financial flexibility to fund working capital to support growth initiatives. This includes, although is not restricted to, the development of its medicinal cannabis business in Australia and to also provide working capital for growth initiatives in the nutraceuticals and hemp foods businesses.
Elixinol Global is the first ASX listed company with exposure to industrial hemp, CBD nutraceuticals and the medical cannabis sector through its businesses.
Elixinol Global has been established to leverage the synergies between its three discrete businesses and to capitalise on the opportunities provided by being invested in a range of emerging cannabis related sectors, including hemp, CBD nutraceuticals and wellness products, hemp food products, cultivation and manufacture of medicinal cannabis products.
The three businesses of Elixinol Global include:
- Elixinol LLC (“Elixinol US”) which was founded in 2014 and manufactures and distributes industrial hemp based nutraceutical, dietary supplement and skincare products, with Operations based out of Colorado, USA;
- Elixinol Pty Ltd (“Elixinol AUS”) which was founded in 2014 to participate in the emerging Australian medicinal cannabis market.
- Hemp Foods Australia Pty Ltd (“HFA”) which was founded in 1999 and manufactures and distributes industrial hemp based derived products in Australia; and
As the first and largest hemp foods processor in Australia, one of the largest hemp nutraceutical companies in the United States and with intentions to be a leader in the Australian medicinal cannabis industry – our portfolio of businesses make Elixinol Global the first ASX company with Australian hemp and cannabis production and distribution with proven revenue and profit.
Paul Benhaim, CEO of Elixinol Global
Elixinol Global has an excellent platform to build a global leader in the industrial hemp and medicinal cannabis sectors. Elixinol US and HFA are innovators and leaders in their respective segments and we look to continue to drive these businesses in a changing and rapidly growing landscape through supporting Australian farmers, local business and global brand focused distribution.
For further information please contact:
Elixinol Global Limited
Elixinol Pty Ltd
Hemp Foods Australia Pty Ltd