Elixxer's Largest Holding, Little Green Pharma, Completes Transformational Quarter
Montreal, Quebec--(Newsfile Corp. - July 30, 2021) - Elixxer Ltd. (TSXV: ELXR) (OTCQB: ELIXF) ("Elixxer" or the "Company) is pleased to announce that, further to it press release dated June 24, 2021 in which it was announced that Little Green Pharma ("LGP") had successfully acquired a CACP/GMP medical cannabis facility in Denmark, LGP has also completed a AUD$27.2 million equity placement with existing institutional and sophisticated investors, including a AUD$15 million commitment (representing 11% of LGP) from Hancock Prospecting Pty Limited - controlled by one of Australia's wealthiest families. As per LGP's quarterly report released on July 27, 2021, LGP has also seen a record growth in underlying patient demand in Australia with a 37% increase in new patients compared to the previous quarter and a 25% increase in products dispensed since Q3FY21. 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% of the total outstanding shares outstanding. For additional information on LGP, please click: LGP share price and company information for ASX: LGP.
"We believe in the future of Elixxer, and investments like we have in LGP are the reason why. The new leadership team, the growth of medical Cannabis and the potential legalization of recreational Cannabis in the EU will lead to great success. 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," commented Ferras Zalt, Chairman and Interim CEO of Elixxer.
About Elixxer Ltd. (www.Elixxer.com)
Elixxer is a Canadian public company listed on the TSX Venture Exchange (TSXV: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF).
Through its partners, Elixxer presently has significant interests in Australia, Jamaica, Switzerland, Italy and Canada.
For further information please contact:
Ferras Zalt, Chairman and Interim CEO: +44 20 7409 6680; email@example.com
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