Telehealth platform Instant Consult has started offering medicinal cannabis consultations through a partnership with Wellnex Life that was first announced in June.
Wellnex introduced a cannabis product range earlier this year through a three-way arrangement with Chemist Warehouse and One Life Botanicals, and has spent recent months familiarising Instant Consult doctors with its medicines.
Chemist Warehouse holds a 60% stake in Instant Consult.
The rollout of dedicated medicinal cannabis appointments coincided with Wellnex reporting cash receipts of A$5.2 million in the first quarter of FY25, a 6% increase on the prior quarter.
That figure included a record $4.1m in non-cannabis product sales alongside $1.1m from IP licensing.
The company recorded a net cash loss from operating activities of $1m.
At quarter's end, Wellnex held cash and cash equivalents of $302,000 and had $3.4m in unused financing facilities.
Rua Bioscience
Rua Bioscience is planning a NZ$3.1 million (A$2.8m) capital raise aimed at bringing the company to a self-sustaining footing.
Chairwoman Anna Stove told the firm's annual general meeting that the funds will go toward marketing activities "to support growth opportunities".
"This includes introducing new product to Germany and Australia and launching into the UK," she told shareholders.
Rua has also agreed to offload its manufacturing facility for NZ$1.3m (A$1.2m).
Stove added: "The cash raised, both from the facility sale and capital raise, is intended — if fully subscribed — to fund the business to a self-sustaining position."
Under the offer, shareholders may apply for three new shares for every four currently held, at an issue price of NZ$0.025c.
The capital raise announcement came as Stove pointed to a strong start to the financial year as a platform for expansion. Rua posted NZ$223,000 in Q1 revenue — more than double the total for the previous 12 months — and expects FY25 revenue to surpass NZ$3m.
"It's incredibly encouraging to see we are no longer at proof of concept and just filling the pipeline," Stove said.
"We are delivering significant revenue growth. Our focus is now to accelerate our sales growth and increase our market share as fast as possible."
Althea Group Holdings
Althea's wholly-owned subsidiary Peak Processing Solutions has entered an agreement with Simply Solventless Concentrates to manufacture and bring to market two cannabis-infused beverages under Simply Solventless's Astrolab brand in Canada.
Astrolab Live Rosin Cream Soda and Astrolab Rocket Lime Live Rosin Soda are set to become available in Ontario and Alberta this year, while Simply Solventless is developing three further beverages under its FrootyHooty brand, scheduled for release in 2025.
Althea said Peak's Envision emulsions platform now supports a broad array of cannabinoid formats — including THC distillate, CBD distillate, CBD isolate, and live rosin — following recent advances in live rosin emulsification.
