MedReleaf Australia and The Entourage Effect (TEE) have entered into a distribution agreement under which TEE will wholesale MedReleaf's CraftPlant, Aurora and IndiMed brands.
Andre Jerome, executive vice president of global business development at Aurora Cannabis — the Canadian parent company of MedReleaf — said the deal expands the company's distribution reach in Australia and improves patient access to its medicinal cannabis products.
TEE CEO Lisa Varley called it a "significant milestone" for both companies "underscoring our shared commitment to improving patient access and advancing the Australian medicinal cannabis market."
"Together, we are well-positioned to better serve the needs of patients across the nation," she added.
Biortica Agrimed
Trials of the first batch of new cultivars sourced from Canadian genetics specialist Apollo Green — a subsidiary of Biortica Agrimed — have kicked off at Biortica's Green Farmers facility in Victoria.
One of the cultivars now in early flower is the OG Triploid, a variety developed by California's Humboldt Seed Company.
Biortica CEO Tom Varga said triploid genetics represent "a new frontier" in cultivation.
"By offering enhanced consistency and improved production potential, we're helping Australian growers raise the bar in terms of quality and reliability," he said.
"The most recent delivery of breeders cuts from Apollo Green means we have the exact strain that has gained success in the North American market, and we know exactly how it will perform here.
"There are other genetics in this trial… that are equally as impressive."
Chief horticultural officer Ben Ellerton added: "These cultivars, particularly the triploids, are already showing remarkable consistency and vigour in early stages.
"Their potential to provide more uniform crops and improved outcomes for growers – and ultimately patients – is truly promising."
Medical Kiwi
The head of troubled New Zealand company Medical Kiwi has registered a new business in the United Kingdom, according to The Press.
Medical Kiwi, also known as Aether Pacific Pharmaceuticals, went into voluntary administration last month after encountering serious financial difficulties and is facing liquidation with debts of close to NZ$9 million.
The Press reports that executive chair Aldo Miccio registered a UK company called Nueather Ltd in October, together with Mohammed Khan, a UK-based scientist who had been collaborating with Medical Kiwi on technology to produce medicinal cannabis pills.
Khan separately formed a UK company called Medcankiwi Ltd in September. The Press noted that Miccio's Medical Kiwi co-founder and director Peter Win does not appear to be part of either venture.
Cannasouth
Cannasouth, which is under external administration, has been removed from the New Zealand stock exchange at its own request after the company acknowledged it had failed to meet compliance obligations.
Administrator Blacklock Rose said the company was "not in a position to resolve the breaches," which include unpaid fees and a failure to lodge annual results.
Staying listed would have created "additional compliance costs which will delay the company's ability to reach a position of cash flow positivity," the administrator said.
Cannasouth remains subject to a Deed of Company Arrangement (DOCA) aimed at rescuing the business after it entered voluntary administration in March.
The DOCA was put forward by a group of investors in June.
Blacklock Rose is continuing to work alongside the DOCA proponents and, "as soon as practical" after the delisting, plans to appoint a board of directors and hand control back to a new management team.
In an update to shareholders, the administrator confirmed Cannasouth is still operating and processing several varieties of cannabis flower and CBD oil.
"While there are regulatory hurdles to export, the management team is exploring the possibility of expanding group revenues through offshore markets while continuing to build on its domestic market base," Blacklock Rose said in a statement.
Rua Bioscience
Rua Bioscience has indicated that first-half sales are on track to surpass NZ$600,000 (A$545,000), with the company describing continued "strong momentum" in its business.
Unaudited figures show it generated NZ$400,000 (A$363,000) in the October–December quarter, an 80% increase on Q1.
Rua said it was recording steady growth in the "large but competitive" Australian market, where its distribution channels and product range are "now firmly established."
The company also broadened its product offering in Germany and the UK during the quarter, while introducing a new flower product in New Zealand that contributed to a month-on-month sales increase.
"In addition, we have new products currently being assessed by the NZ Ministry of Health," the company said.
Ecofibre
Ecofibre's US subsidiary has finalised sale and leaseback agreements covering two properties in North Carolina used in the manufacturing operations of Ecofibre Advanced Technologies, along with a third property in Kentucky that operates as a production facility for Ananda Health.
Ecofibre told the ASX the debt-reduction moves are part of a broader plan to create a simpler, more tightly focused business portfolio and achieve more sustainable financial performance.
The transactions allow the company to repay US$9 million to secured lender Nubridge Commercial Lending, with the remaining $1 million to be converted to an unsecured loan repayable by December 2027 plus interest at 12% per annum.
Ecofibre also said it is in the final stage of negotiations with two lenders to secure working capital loans.
