Me­dreleaf’s Aus­tralian JV part­ner re­ceives pot li­cence

Stockwatch Daily - - CONSUMER GOODS - Mr. Neil Clos­ner re­ports

ME­DRELEAF CORP.’S Aus­tralian joint ven­ture part­ner, Indica In­dus­tries Pty. Ltd., has been granted a li­cence from the Aus­tralian gov­ern­ment Of­fice of Drug Con­trol (ODC) for the cul­ti­va­tion and pro­duc­tion of med­i­cal cannabis. The li­cence to un­der­take au­tho­rized cannabis ac­tiv­i­ties com­mences on Nov. 10, 2018, in or­der to al­low time to com­plete in­fra­struc­ture devel­op­ment of the fa­cil­ity.

“We’re fo­cused on in­ter­na­tional ex­pan­sion in coun­tries with a fed­eral le­gal frame­work for cannabis, and Aus­tralia is an at­trac­tive mar­ket with a pop­u­la­tion about two-thirds the size of Canada and a fo­cus on medic­i­nal ap­pli­ca­tions,” said Neil Clos­ner, chief ex­ec­u­tive of­fi­cer of Me­dreleaf. “Pro­vid­ing our ex­per­tise to lo­cal part­ners al­lows us to par­tic­i­pate in a greater num­ber of in­ter­na­tional mar­kets in a cap­i­tal ef­fi­cient way.”

Me­dreleaf, through its wholly owned sub­sidiary, Me­dreleaf Hold­ings (Aus­tralia) Ltd., has a 10-per-cent eq­uity in­ter­est in Me­dreleaf Aus­tralia and, sub­ject to the ex­e­cu­tion of ad­di­tional doc­u­men­ta­tion, it is contemplated that the com­pany would be­come en­ti­tled to re­ceive cer­tain roy­al­ties on the gross rev­enues of Me­dreleaf Aus­tralia, as well as ad­di­tional eq­uity in the fu­ture.

Leg­is­la­tion to en­able the cul­ti­va­tion of cannabis for medic­i­nal and re­lated re­search pur­poses was passed by the Aus­tralian Par­lia­ment on Feb. 29, 2016, with amend­ments re­lated to li­censed do­mes­tic cul­ti­va­tion com­ing into ef­fect on Oct. 30, 2016. In­clu­sive of the li­cence is­sued to Me­dreleaf Aus­tralia, the ODC has is­sued 11 med­i­cal cannabis li­cences for cul­ti­va­tion and pro­duc­tion since Novem­ber, 2016.

“We’re ex­cited about be­ing among the early pro­duc­ers to be granted a med­i­cal cannabis li­cence,” said Rus­sell Hard­ing, chief ex­ec­u­tive of­fi­cer of Me­dreleaf Aus­tralia. “We look

for­ward to work­ing with Me­dreleaf to bring its level of sci­en­tific and op­er­a­tional rigor to the med­i­cal cannabis in­dus­try in Aus­tralia.” About Me­dreleaf Corp. Me­dreleaf sets The Med­i­cal Grade Stan­dard for cannabis in Canada and around the world. The first and only ICH-GMP and ISO 9001 cer­ti­fied cannabis pro­ducer in North Amer­ica, Me­dreleaf is a re­search and devel­op­ment driven com­pany ded­i­cated to pa­tient care, sci­en­tific in­no­va­tion, re­search and ad­vanc­ing the un­der­stand­ing of the ther­a­peu­tic ben­e­fits of cannabis. Sourced from around the world and care­fully cul­ti­vated in one of two state-of-the-art fa­cil­i­ties in On­tario, Me­dreleaf de­liv­ers a va­ri­ety of pre­mium prod­ucts to pa­tients seek­ing safe, con­sis­tent and ef­fec­tive med­i­cal cannabis.

We seek Safe Har­bor.

Norma Beauchamp, Neil Clos­ner, Ronald F Funk, Deb­o­rah E Rosati, Lloyd Mitchell Se­gal

(LEAF) Shares: 90,515,418

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