Releaf Group subsidiary Releaf Dispensaries has been granted an import and export licence by the Office of Drug Control enabling the cannabis franchise group to further expand its vertically integrated model in Australia and New Zealand
The move coincides with the launch of Releaf’s export division as it expands internationally and opens up new markets for Australian produced or packaged products.
Releaf Group co-founder and CEO Gary McKenzie said: “There are significant global growth opportunities for exporting Australian products in a market which is anticipated to reach more than A$200 billion in retail sales globally within the next 15 years. The market is opening up much more rapidly than originally anticipated.”
Releaf plans to grow its clinic and dispensary footprint across Australia, New Zealand, South Africa, Hong Kong and the UK, aiming to establish 200 high street sites globally within the next five years.
An IPO is earmarked for 2021.