MedReleaf Australia Commences Commercial Operations

Indica Industries Pty Ltd, the partner of Canadian licensed producer MedReleaf (TSX: LEAF) (OTC: MEDFF) that is operating as MedReleaf Australia, has commenced commercial operations. The company, which received its cultivation and production license in November, will be initially importing oils and capsules that are available for delivery in the first quarter of 2018 to hospitals and pharmacies.

We’re delighted to have been granted Australian medicinal cannabis licenses and look forward to teaming with  MedReleaf Corp to introduce their scientific and operational rigour to the Australian medical cannabis industry.

Russell Harding, CEO of Indica Industries Pty Ltd

The company expects to complete an initial facility of 86K sq. ft. in 2018 and to almost triple it over time. MedReleaf owns 10% of the company.

MedReleaf Corp is focused on international expansion in countries with a federal legal framework for cannabis. Australia is an attractive market with a population about two-thirds the size of Canada that focuses on medicinal applications.

Neil Closner, CEO of MedReleaf

Providing our expertise to local partners allows us to participate in a greater number of international markets in a capital efficient way.

In addition to the cultivation and production license that it holds, MedReleaf Australia has applied for a manufacturing license with the Office of Drug Control.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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