MONTREAL, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Elixxer Ltd. (TSXV: ELXR and OTC-QB: ELXIF) ("ELIXXER") is pleased to announce that Little Green Pharma (LGP) exports Australia's first locally grown medical cannabis product to Germany. Elixxer recently announced that has increased its ownership of Little Green Pharma to 40.4% and is its largest shareholder.
- Little Green Pharma has exported samples of its commercial products to German cannabis distribution and wholesaler Cansativa GmbH for product testing.
- Cansativa, a GDP-certified pharmaceutical wholesaler operating its own distribution and fulfillment center, is one of the largest importers and distributors of medical cannabis in Germany.
- On completion of product testing the parties intend to finalize the supplier qualification for the European market and necessary compliance requirements.
- Germany is one of the fastest growing markets for medicinal cannabis in Europe since its legalization in 2017, however all products sold are imported.
- Little Green Pharma was the first and is currently the only, Australian medicinal cannabis company producing locally grown and GMP-manufactured cannabis products for patients.
Western Australian based company Little Green Pharma (LGP), producer of Australia's first locally grown medicinal cannabis product, has reached a significant milestone in the development of the Australian medicinal cannabis industry by becoming the first Australian company to export a locally grown medicinal cannabis product to Germany.
Having its export license approved in January 2019, LGP - which leads Australia's medicinal cannabis industry in the production of medicinal cannabis oil products - has now entered the highly lucrative German market by supplying samples of its commercial products (10:10 LGP Classic and 20:5 LGP classic) to German cannabis distribution and wholesaler Cansativa GmbH (Cansativa) for product testing.
Once product testing by Cansativa in Germany successfully concludes LGP products conform to their label, finalization of the vendor qualification by Cansativa will take place ensuring compliance with the European regulatory requirements.
Germany has become one of the fastest growing markets for medicinal cannabis in Europe since its legalization in 2017. However, domestic cultivation has lagged due to delays in the tendering process which has resulted in product having to be imported in order to meet the increased demand and undersupply of medicinal cannabis to patients.
Frankfurt-based, GDP-certified pharmaceutical wholesaler Cansativa is seeking to avoid supply bottlenecks becoming one of the largest importers and distributors of medicinal cannabis in Germany.
Mazen Haddad, Elixxer's CEO, commented, "Certified exports of medical cannabis into Germany, the EU's largest market, is a very significant step for Little Green Pharma and its plans to expand its sales base outside of the domestic Australian market. We are working with LGP to enter other European markets."
Commenting on the achievement of the export milestone Little Green Pharma Managing Director, Fleta Solomon, said, "Being Australia's first local producer of medicinal cannabis to have its products reach European soil is a major milestone in the Company's short history. This partnership with Cansativa also highlights that our goal of bringing high-quality, cost-competitive Australian-produced medicinal cannabis to patients around the world has become a reality. We are thrilled to be working with a company of Cansativa's standing, with this partnership just the beginning in LGP achieving its global export goal."
On the partnership with Little Green Pharma, Cansativa Co-Founder and Co-Managing Director, Benedikt Sons, said, "This partnership underlines Cansativa's aspiration to provide security of supply in the German market and is an important step for commercializing Australian cannabis in Europe. LGP will help us to tackle the growing supply problems in the German market and secure the amount of deliveries necessary to meet the increasing demands by patients. This agreement is an important step in ensuring security of supply for patients in Germany. Cansativa has aggregated a lot of know-how over the last year regarding process reliability, dealing with authorities, market structure, competition, and the necessary legal expertise. With the Australian import, we underscore our ambition to provide security of supply through global sourcing."
About Elixxer Ltd.)
Elixxer Ltd. is a leading cannabis investment firm with a focus on the legal global cannabis market. Through its growing portfolio of investment companies, ELXR is building a transversal integrated organization of interconnected legal cannabis companies with cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets. ELXR Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSXV: ELXR) and the US OTC-QB exchange (OTCQB: ELXIF).
Through its partners and assuming pending transactions under review by the TSXV are approved, ELXR presently will have interests in Australia, Jamaica, Switzerland, Italy and Canada.
ELXR's partners currently sell cannabis products in over 1,000 points of sale across Switzerland and Italy under the ONE Premium Cannabis and EasyJoint brands as well as medical cannabis oils in Australia through Little Green Pharma. ELXR's partners' branded products are available in a variety of formats including medicines, cosmetics, dry cannabis flower, tinctures, oils and seeds.
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