Queensland Bauxite Limited
Hemp Seed Oil soft-gel capsules to be released: Queensland Bauxite Limited (ASX: QBL) reported that its subsidiary, Medical Cannabis Limited (MCL) is releasing the first of its kind of a capsule to the Australian market – Australian grown and processed Hemp Seed Oil soft-gel capsules. This release will be through its subsidiary VitaHemp Pty Ltd. With this news, QBE stock price climbed up by 4.878% to 0.043 cent on April 18, 2018.
As per the latest release, these capsules meet a unique consumer demand in the Australian market. Omega 3-6-9 oils are often consumed via animal-based oils or fish oils, including intensively farmed by-products from fish aquaculture. However, many people are now seeking plant-based alternatives such as Hemp Seed Oil which provide the same important Essential such as Fatty Acids (EFAs) and Gamma Linoleic Acids (GLA’s). Moreover, MCL’s seed and production division is setting the standard as a global leader in hemp seed food production in Australia. Further, the management stated that the group will continue the development of MCL's business that include release of its new innovative and quality product, and thereby generate significant revenues for the benefit of all the shareholders. The group has a cash balance of over $8.9 million while its loss has widened for half year ended December 2017.
The stock price has risen by about 141.2% in past six months and by almost 13.89% in last five days (as at April 17, 2018). Meanwhile, the aforesaid move is a major milestone to generate revenue, the stock will be an interesting one to watch for any potential buying opportunity with more catalysts, if any, that the group may reveal going forward. As of now, we give an “Expensive” recommendation on the stock at the current market price of $ 0.043.
Hemp Seed Oil soft-gel capsules (Source: Company Reports)
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