- Elixxer’s (ELXR) largest holding, Little Green Pharma, completes a transformational quarter
- Elixxer has successfully acquired a CACP/GMP medical cannabis facility in Denmark, LGP has also completed an AUD$27.2 million equity placement
- According to Freshleaf Analytics, the Australian medical cannabis market is estimated to surpass AUD$200M in 2021 – a twofold increase from 2020
- As of June 30, 2021, Elixxer held approximately 27.4 million shares of Little Green Pharma (ASX: LGP) representing 15.5 per cent of the total outstanding shares outstanding
- Elixxer Ltd. (ELXR) is up 50 per cent and is trading at C$0.015 at 2:37 pm ET
Elixxer’s (ELXR) largest holding, Little Green Pharma (LGP) has completed an AUD$27.2 million equity placement amid record growth in patient demand.
The placement included an AUD$15 million commitment from Hancock Prospecting Pty Limited.
As per LGP’s quarterly report released on July 27, 2021, LGP has also seen record growth in underlying patient demand in Australia with a 37 per cent increase in new patients compared to the previous quarter and a 25 per cent increase in products dispensed since Q3FY21.
Elixxer Ltd. has acquired a medical cannabis facility in Denmark. LGP.
According to Freshleaf Analytics, the Australian medical cannabis market is estimated to surpass AUD$200M in 2021 – a twofold increase from 2020 and, according to Prohibition Partners, to surpass AUD$2 billion by 2028.
LGP saw its international sales momentum resume, with deliveries recommenced to Demecan, LGP’s German wholesaler, following Demecan’s receipt of necessary regulatory approvals. LGP ended the quarter with a strong balance sheet and cash.
As of June 30, 2021, Elixxer held approximately 27.4 million shares of Little Green Pharma (ASX: LGP) representing 15.5 per cent of the total outstanding shares outstanding.
“The new leadership team, the growth of medical Cannabis and the potential legalization of recreational Cannabis in the EU will lead to great success,” commented Ferras Zalt, Chairman and Interim CEO of Elixxer.
“In addition, the company’s recent debt reduction through equity conversion will position the company to seek bigger and more aggressive acquisitions in the coming months,” said Zalt.
Elixxer is a Canadian public company listed on the TSX Venture Exchange (TSXV: ELXR) and the OTCQB exchange.
Through its partners, Elixxer presently has significant interests in Australia, Jamaica, Switzerland, Italy and Canada.
Elixxer Ltd. (ELXR) is up 50 per cent and is trading at C$0.015 at 2:37 pm ET.