Australia is quickly becoming a home base for cannabis companies looking to take advantage of recently legalized medical marijuana. Coupled with favorable opportunities for listing on the Australian Securities Exchange (the ASX), and Australia is rapidly becoming a hot spot for cannabis innovation and investment.
We've just added 6 more marijuana-related companies to our ASX listed marijuana stock database that are worth a further look.
BOD Australia Ltd. (ASX:BDA)
Recently, BOD Australia Ltd. completed its design for a Phase 1 clinical trial for its proprietary pharmaceutical grade cannabis extract and delivery system. The company is a developer, manufacturer, marketer and distributor for natural beauty and skincare products from body wash to rash cremes. BOD's decision to expand into the cannabis space is expected to be a lucrative one.
Cann Group Ltd. (ASX:CAN)
Cann Group Ltd. is an Australia-based company that focuses on the cultivation of cannabis for medicinal and research purposes. With fully licensed facilities to cultivate medicinal cannabis, the company also is in the business of manufacturing medicinal cannabis products. Cann Group has both a cannabis research license as well as a cannabis cultivation license in Australia, thus allowing the company to produce Australian grown material that can be prescribed for patient use. With a particular focus on plant genetics and analysis, Cann Group strives to supply medicinal cannabis to the Australian market and beyond for a range of diseases and medical conditions.
Hydroponics Company Ltd. (ASX:THC)
Hydroponics Company Ltd.'s objective is to be a leading, diversified, worldwide cannabis business focused on the manufacturing and distribution of hydroponics equipment, materials and nutrients; large-scale hydroponic greenhouse design and construction; as well as the development and delivery of medicinal marijuana. The company aims to capitalize on the surging global cannabis market, generating significant near term value through strategic assets while rapidly expanding their core businesses.
Queensland Bauxite Ltd. (ASX:QBL)
While Queensland Bauxite Ltd. is obviously involved in the exploration for and mining of bauxite as the name suggests, the company stepped into the cannabis space back in March when it acquired a 55% controlling stake in the unlisted company, Medical Cannabis Limited. Vitahemp, owned by Medical Cannabis Ltd., is a hemp seed food company aiming to produce Australia’s first legal hemp seed food products.
Stemcell United Ltd. (ASX:SCU)
Stemcell United Ltd. is a biotechnology company that focuses on stem cell technology and plant extracts for use in traditional medicines. Back in March, Nevil Schoenmakers, the so-called "King of Cannabis" was appointed to the company's board, which sent the company’s stock skyrocketing. Then, in May, the company signed agreement with Ican Israel-Cannabis, where SCU got a 5-10% stake in Ican Isreal-Cannabis.
TPI Enterprises Ltd. (ASX:TPE)
TPI Enterprises Ltd., a poppy cultivator and processor, got into the cannabis space when the company received a licence to grow and extract industrial hemp for experimental purposes.