The New Zealand Medicinal Cannabis Council has appointed former Helius Therapeutics CEO Carmen Doran as its new chair.
Writing on LinkedIn, NZMCC said: “Carmen brings deep experience in regulated industries and governance, along with a strong commitment to collaboration and innovation.
“She steps into the role at a pivotal time for the sector, as we work together to improve patient access, enhance regulatory clarity, and grow New Zealand’s presence in global markets.”
Doran added: “I’m looking forward to working alongside members and stakeholders to strengthen our collective impact and ensure all voices are heard.”
Former chair, Puro’s Tim Aldridge, will continue to serve the association as vice chair.
ECS Botanics
ECS Botanics has said it is poised to deliver a record-breaking harvest in FY25, exceeding FY24 production by 50%.
The firm told the ASX it expects annual output to exceed 9.8 tonnes “at significantly lower production costs than in previous years” with its outdoor harvest reaching 6 tonnes, including a record 2.6 tonnes of premium dried flower.
It said its protective cropping enclosures (PCEs) are also forecast to deliver a record 3.8 tonnes, including more than 2.5 tonnes of A-grade trimmed dried flower by June 30.
It will also launch four premium Terphogz strains in June and said it “remains on track to achieve positive cash flow in 2025”.
“With record production, new product launches and expanding global distribution, ECS is well-positioned to continue its growth trajectory and deliver value to shareholders,” the firm added.
Elixinol Wellness
Health food business Elixinol Wellness has raised A$1.5 million to drive further growth as its chairman declared the “heavy lifting” of 2024 had been successfully completed.
The majority of the new capital – $1.35m – was secured through a 12-month debt facility with the remaining $150,000 generated via an equity placement, the firm said.
Chairman David Fenlon contributed $100,000 to the debt facility.
Elixinol said the funds will help with working capital, specifically to build inventory across its brands, The Healthy Chef and Soul Seeds in particular.
Fenlon said: “Over the past 12 months we have streamlined our business, cut costs and improved margins. This capital raise positions us to accelerate automation and invest further in our brands as we continue to grow revenue.”
Earlier, Fenlon told shareholders at the firm’s annual general meeting that 2o24 had been a year of “significant progress” and one of “disciplined execution and renewal for Elixinol”.
“Just 12 months ago, we stood at a pivotal point,” he said. “Our operational structure had been reset, but the business had yet to prove it could grow sustainably, simplify execution and scale profitably.
“I can confidently say that the heavy lifting is behind us. We have reshaped the business and we are now beginning to reap the rewards.”
While warning that the job was not finished, the “company was moving with discipline and urgency”, he said.
It reported an 81% jump in revenue in 2024 to $15m, with both The Healthy Chef and Elixinol USA posting EBITDA positive results.
Losses also narrowed to $1.7m, down from $7.5m in FY23.
Epsilon Healthcare
Epsilon Healthcare is aiming to raise up to A$1 million to fund working capital through the issue of loan notes.
The firm told the ASX the funding structure is designed to minimise dilution to existing shareholders and is complemented by cost-reduction initiatives implemented during Q4 FY24 and Q1 FY25.
Chairman Alan Beasley said: “The funds raised will allow EPN to continue the ongoing work of investing in the business and undertake activities necessary to lift the suspension of trading of the company’s shares.”
Epsilon shares last traded on the ASX in December 2023.