Jacob Redmond
Well-Known Member
A Perth-based company that hopes to join the growing medical marijuana market in the US plans to list on the Australian stock exchange next year.
RxMM Health was formed this month by Boston Securities Group on behalf of an American and Australian consortium, and initially aims to supply the Californian market with pharmaceutical-grade medical cannabis.
The company says it has recruited a hydroponic cultivation expert and a US legal consultant to provide guidance, and hopes to sell the drug to authorised distributors and dispensaries.
While it is yet to secure permits for growing and distributing medical marijuana in San Diego, RxMM Health says it has already inked a sales deal for its crop, which is expected to exceed $US20 million within two years.
The company also says it has reached in-principle agreements with two US medical specialists to oversee research programs for the development of therapeutic prescription medicines based on cannabis extracts.
RxMM Health intends to direct a percentage of its profits to medical support groups and is currently raising capital ahead of plans to list on the ASX by the third quarter of 2015-16.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Australia Company Joins U.S. Medical Marijuana Rush
Author: Australia Associated Press
Photo Credit: AP Photo/Steven Senne
Website: Sky News
RxMM Health was formed this month by Boston Securities Group on behalf of an American and Australian consortium, and initially aims to supply the Californian market with pharmaceutical-grade medical cannabis.
The company says it has recruited a hydroponic cultivation expert and a US legal consultant to provide guidance, and hopes to sell the drug to authorised distributors and dispensaries.
While it is yet to secure permits for growing and distributing medical marijuana in San Diego, RxMM Health says it has already inked a sales deal for its crop, which is expected to exceed $US20 million within two years.
The company also says it has reached in-principle agreements with two US medical specialists to oversee research programs for the development of therapeutic prescription medicines based on cannabis extracts.
RxMM Health intends to direct a percentage of its profits to medical support groups and is currently raising capital ahead of plans to list on the ASX by the third quarter of 2015-16.
News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Australia Company Joins U.S. Medical Marijuana Rush
Author: Australia Associated Press
Photo Credit: AP Photo/Steven Senne
Website: Sky News
