Hemp Foods Australia has listed on the ASX following a change in legislation and two decades of hard work by founder and hemp pioneer Paul Benhaim.
The company has listed under its newly formed parent company Elixinol Global Limited (ASX:EXL), and was formed from a merger of three companies - hemp food wholesaler Hemp Foods Australia, hemp-based dietary supplement and skincare maker US-based Elixinol LLC, and Australian medicinal cannabis company Elixinol Pty Ltd.
Hemp food wholesaler Hemp Foods Australia was founded in 1999, Elixinol LLC was founded in 2014, and Elixinol Pty Ltd was founded in 2014, and Benhaim, who founded all three companies, is the CEO of the combined entity.
“With global exports of Australian medical marijuana now approved, the world will soon have single-source access to best in class medical marijuana and hemp products from Elixinol, one of the world’s most trusted brands,” Benhaim said.
Under the new organisation, Australian-based Hemp Foods Australia will continue to be a global manufacturer and distributor of quality hemp food products and skin care, Elixinol LLC will continue to supply hemp-based cannabidiol (CBD) dietary supplements and topical products, and Elixinol Pty Ltd will provide medical marijuana exported from Australia into regulated markets across the globe.