Elixinol Global (ASX: EXL) (OTC: ELLXF), an Australian based hemp Cannabidiol (CBD) product manufacturing and distribution company, announced their Q2 financial results today. Elixinol has impressively reported sales of A$8.0 million, which is a reported growth of 111% from last year.
Elixinol sells a variety of premium CBD products in the form of cosmetics, topical’s, tinctures, capsules, and pet products. The company’s headquarters is located out of Australia but, currently has distribution networks setup in the United States, Europe, South America, and Japan, where just this year Elixinol was accepted as the first CBD company to distribute and market in the country.
Elixinol has also recently joint ventured with Kersey Ag to complete the cultivation of high- yielding CBD industrial hemp in Colorado. Their newly founded company, Northern Colorado High Plains Producers completed its first planting of hemp in April 2018. Elixinol plans to cultivate industrial hemp in Colorado in the hopes of establishing a extraction and manufacturing facility for their product line in the United States.
The company is currently trading at $1.41AUD per share and has a market cap of 146.159 million dollars.