The New Zealand Medicinal Cannabis Council has named Carmen Doran, the former CEO of Helius Therapeutics, as its incoming chair.
In a post on LinkedIn, NZMCC said: "Carmen brings deep experience in regulated industries and governance, along with a strong commitment to collaboration and innovation.
"She steps into the role at a pivotal time for the sector, as we work together to improve patient access, enhance regulatory clarity, and grow New Zealand's presence in global markets."
Doran added: "I'm looking forward to working alongside members and stakeholders to strengthen our collective impact and ensure all voices are heard."
The outgoing chair, Puro's Tim Aldridge, will remain with the association in the role of vice chair.
ECS Botanics
ECS Botanics has indicated it is on course to post its best-ever harvest in FY25, with production expected to exceed FY24 output by 50%.
The company informed the ASX that annual output is projected to surpass 9.8 tonnes "at significantly lower production costs than in previous years," with its outdoor harvest reaching 6 tonnes and including a record 2.6 tonnes of premium dried flower.
Its protective cropping enclosures (PCEs) are also forecast to yield a record 3.8 tonnes, with more than 2.5 tonnes of A-grade trimmed dried flower expected by June 30.
The company plans to launch four premium Terphogz strains in June and said it "remains on track to achieve positive cash flow in 2025".
"With record production, new product launches and expanding global distribution, ECS is well-positioned to continue its growth trajectory and deliver value to shareholders," the company added.
Elixinol Wellness
Health food company Elixinol Wellness has completed an A$1.5 million capital raise to support continued growth, with its chairman declaring that the difficult work of 2024 is now behind the business.
The bulk of the new funding — $1.35m — came through a 12-month debt facility, with the remaining $150,000 sourced via an equity placement, the company said.
Chairman David Fenlon personally contributed $100,000 to the debt facility.
Elixinol said the capital will be directed toward working capital, with a focus on building inventory across its brands, particularly The Healthy Chef and Soul Seeds.
Fenlon said: "Over the past 12 months we have streamlined our business, cut costs and improved margins. This capital raise positions us to accelerate automation and invest further in our brands as we continue to grow revenue."
Speaking to shareholders at the company's annual general meeting, Fenlon described 2024 as a year of "significant progress" and one of "disciplined execution and renewal for Elixinol".
"Just 12 months ago, we stood at a pivotal point," he said. "Our operational structure had been reset, but the business had yet to prove it could grow sustainably, simplify execution and scale profitably.
"I can confidently say that the heavy lifting is behind us. We have reshaped the business and we are now beginning to reap the rewards."
While cautioning that more work remained ahead, the "company was moving with discipline and urgency", he said.
Elixinol reported an 81% jump in revenue in 2024 to $15m, with both The Healthy Chef and Elixinol USA recording EBITDA positive results.
The company's losses also narrowed to $1.7m, compared with $7.5m in FY23.
Epsilon Healthcare
Epsilon Healthcare is seeking to raise up to A$1 million through the issue of loan notes to shore up its working capital position.
The company told the ASX the structure of the funding is intended to limit dilution for existing shareholders, and is supported by cost-cutting measures introduced during Q4 FY24 and Q1 FY25.
Chairman Alan Beasley said: "The funds raised will allow EPN to continue the ongoing work of investing in the business and undertake activities necessary to lift the suspension of trading of the company's shares."
Epsilon shares last traded on the ASX in December 2023.
