MedReleaf Australia

MedReleaf Australia has closed a non-brokered private placement financing of common shares at a price of A$21 per share for gross proceeds of A$3.9 million, an oversubscription of A$900k. The funds will be used to expand sales and marketing, inventory, education, regulatory compliance, and R&D.

MedReleaf said it received global interest in the offering, with participants including a Canadian-based institutional investor, founders of two of Canada’s largest cannabis companies, and current shareholders.

Cronos Australia

Cronos is launching a new CBD-based personal care brand in Japan and Hong Kong.

Formulated for sensitive skin, the Saiph range includes cleanser Ablution, containing 350mg of Japanese-compliant CBD, and moisturiser Tranquillity, with 700 mg.

Both products should be available online and from selected retailers next month.

Cronos said the total addressable market in the skin and body care segments in Japan and Hong Kong was more than A$26 billion in 2018.

MediPharm Labs

MediPharm Labs has entered into a research partnership with Canada’s McMaster University to develop cannabis-based drugs.

The company will use its cannabis drug licence to provide access to clinical trial material that meets pharmaceutical quality standards and Good Manufacturing Practice, as well as investigative protocol and regulatory approval support.

MediPharm Labs and McMaster University researchers have proposed three distinct clinical trials, each led by separate clinician groups looking to develop novel cannabis-based drugs to treat indications including pain, insomnia associated with major depression, and uremic pruritus.

Elixinol Wellness

Elixinol Wellness has entered a trading halt, pending an announcement to the ASX regarding the proposed acquisition of CannaCare Health.

The halt will remain in place until the start of trading on Wednesday June 30, 2021 or when the announcement is released to the market.

UPDATE (June 29, 2021): Elixinol pulls out of CannaCare deal.

Lifespot Health

Healthcare technology company Lifespot Health has appointed Canadian investment fund Ela Capital as its corporate advisor to help drive the commercialisation of its products in the global cannabis market.

Ela Capital became a major shareholder in Lifespot at the start of 2021.

Emyria

Emyria has appointed consultant psychiatrist Dr Eli Kotler as principal investigator for a forthcoming clinical trial of EMDMA-001, a MDMA-assisted psychotherapy for treatment-resistant post-traumatic stress disorder.

Helius Therapeutics

New Zealand medicinal cannabis company Helius Therapeutics has appointed Joanna Perry to its board. The chartered accountant joins as an independent director and will chair the board’s audit finance committee.

Perry has held many regulatory, advisory, standards and reporting-related roles, and was a long-time member of the Securities Commission of New Zealand.