() executive director & CEO Paul Benhaim speaks to Proactive Investors about the cannabis group of companies’ business sectors and suite of hemp-based foods, supplements and medicinal oil products.
The group’s portfolio comprises three main divisions: Elixinol USA focused on dietary supplements; Hemp Foods Australia selling food products; and Elixinol Australia, the new start-up focused on medicinal cannabis.
“Elixinol Global listed in January this year on the ASX and we did that to raise about $20 million which was a highly oversubscribed listing,” Benhaim says.
He continues, “those funds were intended to be used on the medical cannabis business start-up in Australia … that business has applied for licences with the Office of Drug Control, which we’re currently waiting for.”
Recently announced half-year results show Elixinol Global grew over 110% on the prior period, with first-half revenue of $14.9 million.