Australian based Elixinol Global Commences Trading on the OTCQX in the US
Date Posted:18 September 2018
Australian based Elixinol Global Commences Trading on the OTCQX in the US. Listing follows strong financial results and share price appreciation
Elixinol Global Limited (ASX: EXL, OTCQX: ELLXF), an Australian listed company operating globally in the industrial hemp, dietary supplements and emerging medicinal cannabis sectors, is pleased to announce that it has commenced trading on the “OTCQX Best Market” in the United States under the symbol “ELLXF”.
Trading on the OTCQX underpins the Company’s strategy to increase awareness of Elixinol Global in the US and broaden its investor base in a market where consumer interest and demand for hemp-derived products is growing at a rapid rate.
Paul Benhaim, Elixinol Global’s CEO said, “We already have strong brand awareness in the US thanks to our subsidiary Elixinol USA. Listing on OTCQX will bring increased exposure for Elixinol Global as the parent-company and provide US-based investors with the opportunity to take part and invest in a company with exceptional growth and one that is well positioned to continue to lead the sector.”
He continued, “Trading on the OTCQX will also facilitate ease of trading for our US investors, in local currency and in local time.”
EXL’s listing on the OTCQX comes off the back of the Company’s 1H FY2018 half year results, which showed solid revenue growth (up 110% on 1H FY2017) and a maiden profit, making it the only ASX listed cannabis company to report a profit.
“Our growth strategies are set to be supported by major regulatory developments unfolding worldwide that will have a significant impact on the industry, including the pending US Farm Bill. If passed by the US government and signed by the president, industrial hemp will be categorised as an agricultural commodity and removed from the DEA’s list of schedule 1 drugs. This will facilitate further consumer demand from hemp-derived CBD products, and drive additional sales and marketing opportunities for Elixinol in the US.”
The OTCQX Best Market is a segment of the OTCQX marketplace reserved for high-quality non US companies already listed on a qualified international stock exchange, such as the Australian Securities Exchange (ASX), and relies upon the companies’ primary exchange for compliance. US investors can find information and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
To locate Elixinol Global on the OTCQX, visit https://www.otcmarkets.c
About Elixinol Global
Elixinol Global Limited (ASX:EXL, OTCQX: ELLXF) through its businesses has a global presence in the cannabis industry including hemp-derived CBD dietary supplements, food and wellness products, as well as the cultivation and manufacture of medicinal cannabis products. Elixinol Global’s businesses include:
- Elixinol USA, which was founded in 2014, is a manufacturer and global distributor of industrial hemp based dietary supplement and skincare products, with operations based out of Colorado, USA;
- Hemp Foods Australia, which was founded in 1999, is a leading hemp food wholesaler, retailer, manufacturer and exporter of bulk and branded raw materials, and finished products;
- Elixinol Australia, which was founded in 2014 to participate in the emerging Australian medicinal cannabis market and submitted licence applications for cultivation and manufacture to the Office of Drug Control in early CY 2018. These applications are currently pending approval.
See more at www.elixinolglobal.com