Progress on mutually beneficial strategic alliances in the medical cannabis industry: Queensland Bauxite Limited (ASX: QBL) is an Australian listed company focused on the exploration and development of its bauxite tenements in Queensland and New South Wales; and had acquired a 55% shareholding in Medical Cannabis Limited, an Australian leader in the hemp and Cannabis industries. Recently,Queensland Bauxite Limited (QBL) through its subsidiary, Medical Cannabis Limited (MCL), entered into a binding MOU with Burleigh Heads Cannabis Pty Ltd (BHC), which is in possession of a medical cannabis import license approved by the Office of Drug Control (ODC), and has Government approved secure storage facilities for medical cannabis products. Under the MOU, BHC will provide the import and storage services for MCL’s international medical cannabis products; and the latter will have immediate access to the required Australian licenses and secured storage facilities that are needed to import its Canntab medical cannabis pharmaceutical extended release pills from Canada. This entire move will help MCL market its international medical cannabis product suite and commence distribution of the Canntab pill in 2H 2018 with initial import of the Canntab product to Australia from Canada being arranged by BHC free of charge to MCL.
Targeted mass consumer market: Recently, Coles stores around Australia received various products and oil blends that have hemp ingredients included exclusively as supplied by QBL’s subsidiary MCL and its hemp seed food subsidiary VitaHemp Pty Ltd (Vitahemp). This has helped the group get an exposure to a mass consumer market with Hemp derived products available on a Coles shelf. Earlier, VitaHemp Pty Ltd had released this first of a kind Australian grown and processed Hemp Seed Oil soft-gel capsules to the Australian market.
QBL (with a market capitalisation of 82.88m) has witnessed a rise of about 30% in last five days post a fall of 10.3% in last three months, as at April 20, 2018. With many positive developments in place, we put a Speculative buy recommendation at the current price of $ 0.052.
.png)
Consolidated Performance (Source: Company Reports)
Disclaimer
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.