Highlights:
LGP granted ODC Medical Cannabis Cultivation and Production Permit for its expanded cultivation and manufacturing facility in Australia.Expanded Cultivation and manufacturing facility now fully permitted with increased plantings to begin immediately.Expanded facility capable of producing sufficient cannabis flower to manufacture 110,000 bottles of medical cannabis oil per annum.Permit represents milestone in the Company’s strategy to become a major supplier to Germany, UK and other key European markets.
MONTREAL, July 20, 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 been granted its Medical Cannabis Cultivation and Production Permit (“Permit”) by the Office of Drug Control (“ODC”) for its expanded cultivation and manufacturing facility (“Expanded Facility”). The grant of the permit means the Expanded Facility is now fully ODC licensed and permitted.LGP’s Expanded Facility comprises of nine flowering rooms equipped with a number of automated technologies to enhance cultivation effectiveness (including rolling benches, computer-timed LED lighting, climate control and irrigation control), two mother plant rooms and two vegetation rooms.The Expanded Facility increases the scale of LGP’s cannabis flower production sufficient to manufacture more than 110,000 bottles of medical cannabis oil per annum. This enhanced capacity is in addition to the Company’s well established third party flower and resin supply lines and will help ensure LGP can meet its growing demand requirements. The grant represents the achievement of a key milestone in LGP’s strategy of continued medicinal cannabis sales growth in Australia as it positions itself to become a major supplier into Germany, UK and other key markets in Europe.The term of the Permit is until March 10th, 2021 in alignment with LGP’s Medicinal Cannabis and Manufacturing licenses. ODC permits are typically renewed annually or biennially on a rolling bases.LGP Managing Director Fleta Solomon said:“The completion of permitting and commencement of significantly increased operations at our expanded cultivation and manufacturing facility represents the achievement of a major milestone for Little Green Pharma. We expect the increased production scale will allow us to fulfill both growing demand in Australia as well as serve as a platform to become a significant supplier to German, UK and other key European Markets.” About Elixxer Ltd. (www.Elixxer.com)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 (www.littlegreenpharma.com)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:CEO, Mazen Haddad: mazen@elixxer.com
President, John McMullen: john@elixxer.comCaution Regarding Press ReleasesNeither 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 StatementsThis 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.
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