TCann

Australian import/export and distribution company TCann has entered into a medical cannabis supply and purchase agreement with Eve & Co subsidiary Natural MedCo (NCM). 

Eve & Co president and CEO Melinda Rombouts

The deal will see TCann distribute NCM medical-grade dried cannabis products in Australia.

Eve & Co president and chief executive officer Melinda Rombouts said: “We are excited to announce our first executed supply agreement for distribution of Eve’s product to Australia.

“Entering this agreement enables Eve to fulfil its strategy to become one of the foremost exporters of EU GMP compliant product from Canada to the world’s foreign cannabis markets.”

ECS Botanics

ECS Botanics has secured distribution of its 250ml Extra Virgin Tasmanian Hemp Seed Oil into Coles stores nationwide and expects the product to hit the cooking oil section of the supermarket’s shelves by October.

ECS Botanics managing director Alex Keach

The company, which also has a distribution deal with Woolworths, will no longer distribute via Just Food Australia (JFA), a move it says will allow it to achieve significantly higher margins on its products.

Managing director Alex Keach said: “Now that we have established a direct relationship with supermarket groups, we will take advantage of the opportunity to extend the number of products ranged with these retailers.”

Cannaponics

WA’s Shire of Collie has approved Cannaponics’ Development Approval for the company’s proposed cultivation and manufacturing facility in the region.

Rod Zakostelsky Cannaponics
Cannaponics founder and managing director Rod Zakostelsky

Last month, the vertically integrated medicinal cannabis company started earthworks at the facility with WA regional development minister Alannah MacTiernan attending the official sod-turning event.

Founder and managing director Rod Zakostelsky said: “We now have every approval in place to fulfil our dream to build an industry in Collie that is going to benefit so many people’s lives.”

Releaf Group

Releaf Group has launched the International College of Cannabinoid Medicine (ICCM), an education streaming platform on medicinal cannabis for healthcare practitioners.

Led by Australian cannabis educator Professor Kylie O’Brien, ICCM features videos focused on medicinal cannabis for the treatment of a range of clinical conditions presented by international experts.

Healthcare practitioners can access all learning modules via an annual subscription with individual videos available as standalone streams. There’s also a free 12-module online foundation course with a podcast, short online courses in clinical speciality areas and face-to-face events to follow.

Cannvalate

Cannvalate has agreed a deal with Global Wellness Strategies for the Canadian firm to acquire 100% of its wholly-owned subsidiary Shanti Therapeutics for A$2.72 million.

Shanti Therapeutics focuses on clinical research into psychedelic drugs for the treatment of chronic pain.

Elixinol Wellness

Elixinol Wellness halved its losses in the first half of 2021, despite revenue falling by 39% on the previous corresponding period (PCP).

Oliver Horn - Cannabis News Australia - Cannabiz
Elixinol Wellness CEO Oliver Horn

Adjusted EBITDA for the half year ended June 30, 2021 improved by 53% to a A$7.1m loss compared to a $15.2m loss in the first six months of 2020. Revenue fell from $7.9m in the prior half-year period to $4.8m in H1 2021.

The company told the ASX a focus on more profitable branded consumer goods and e-commerce channels had contributed to margins increasing to 52% in the reporting period compared with 37% in the PCP.

CEO Oliver Horn said: “Despite a highly challenging economic and regulatory environment, Elixinol Wellness has delivered the best half-yearly EBITDA result and highest margins since H1 2019 and continued to deliver on its strategy to build a consumer centric, high-margin branded consumer goods company through the first half of the year.”

Creso Pharma

Creso Pharma’s wholly owned Canadian psychedelics subsidiary Halucenex Life Sciences has secured a Controlled Drugs and Substances Dealer’s Licence from
Health Canada.

The move allows the company to progress a planned phase II clinical trial to test the efficacy of psilocybin on treatment-resistant post-traumatic stress disorder.

Halucenex can now possess, sell, provide, transport, deliver and conduct R&D
on psychedelic substances including psilocybin, ketamine, LSD, Salvia divinorum, harmaline, salvinorin A and MDMA (Approved Controlled Substances). It is seeking an amendment to the licence to enable it to produce, package, and assemble the Approved Controlled Substances.

Incannex

Incannex has registered its intent to seek a public offering on the NASDAQ, confirming its F-1 paperwork has been filed.

If approved, Incannex will be listed on the NASDAQ and will be able to raise capital from US investors by utilising American Depositary Shares (ADS), with each ADS equivalent to 50 ordinary Incannex shares.