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Partnership to enter Australia's medicinal cannabis market

Wellnex Life’s strategy to penetrate the medicinal cannabis and hemp market in Australia is a step closer under a joint venture with Victoria-based producer OneLife Botanicals.

OneLife is a licensed cannabis producer and manufacturer and has what Wellnex describes as a world-class cannabis production, research, and development facility. It is licensed to generate up to 20 tonnes of product a year.

Under the joint venture terms, Wellnex will have the “first right of refusal” on OneLife’s cannabis-based raw materials and products, which will be sold under a jointly developed brand.

Wellnex chief executive officer George Karafotias said the joint venture will enable the company to be one of the first in bringing cannabis-based products to the Australian market.

To read the complete article, go to www.smallcaps.com.au