Highlights:
- Little Green Pharma confirms first ever export of Australian medicinal cannabis for patients
- LGP is one of only a few companies with GMP-licensed medicinal cannabis products available in the UK
- The UK industry is forecast to grow to £1.05 billion (A$2.10 billion) by 2024, with an expected 400,000 patients being prescribed medicinal cannabis(1)
MONTRÉAL, April 15, 2020 (GLOBE NEWSWIRE) -- Elixxer Ltd. (TSX-V: ELXR) (OTC-QB: ELIXF) (FRA 2LQA) ("ELIXXER" or (the "Company") is pleased to update that its pharmaceutical medical cannabis partner, Little Green Pharma (ASX:LGP) of Australia, has successfully exported their first shipment of medicinal cannabis products for patients into the UK.
The products are to be distributed in the UK by Astral Health, a UK-based specialist importer and distributor of medicinal cannabis products and subsidiary of the LYPHE Group. The products were imported under the purchase agreement between the Company and Astral Health previously announced to the ASX on 19 February 2020.
On 2 March 2020, the UK Home Office and MHRA announced that import permits may now be granted based on anticipated prescription quantities. This announcement sees improvements made to the access pathway for medicinal cannabis, increasing the efficiency of the process of exporting products to the UK.
LGP Managing Director Fleta Solomon said:
"Little Green Pharma is one of a few companies with GMP-produced cannabinoid medicines available in the UK. We are proud to be leading the charge in helping patients across the globe access quality Australian medicinal cannabis products."
Australia's Minister for Health, the Honourable Greg Hunt said:
"This first export of Australian-produced medicinal cannabis oils to the UK marks an important step in fulfilling Australia's vision of building a global medicinal cannabis industry capable of supplying quality medicinal cannabis products to both Australian and overseas patients."
The UK industry is forecast to grow to £$1.05 billion (A$2.10 billion) by 2024, with an expected 400,000 patients being prescribed medicinal cannabis
About Elixxer Ltd.)
ELXR Ltd. is a Canadian public company listed on the TSX Venture Exchange (TSX-V: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF). Through its partners ELXR presently has significant interests in Australia, Jamaica, Switzerland, Italy and Canada.
About Little Green Pharma)
Little Green Pharma is a vertically integrated medicinal cannabis business with operations from cultivation and production through to manufacturing and distribution.
The Company has an indoor cultivation facility in Western Australia and an exclusive partnership with a GMP- licensed pharmaceutical manufacturer for the production of its own-branded range of medicinal cannabis products.
Little Green Pharma products comply with all required Therapeutic Goods Administration regulations and testing requirements. With a growing range of products containing differing ratios of active ingredients, Little Green Pharma supplies medical-grade cannabis products to Australian and overseas markets.
The Company has a strong focus on patient access in the emerging global medicinal cannabis market and is actively engaged in promoting education and outreach programs, as well as participating in clinical investigations and research projects to develop innovative new delivery systems.
For further information please contact:
President, John McMullen, +1-416-803-0698, john@elixxer.com
Caution Regarding Press Releases
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward Looking Statements
This press release may contain forward-looking statements with respect to Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Elixxer, including completion of the Loan and any future investment or acquisition, could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under "Risk Factors and Risk Management" in Elixxer's most recent Management's Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws.
________________________
- "Prohibition Partners, The UK Cannabis Report, p 14 - 46
