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DENVER, Feb. 05, 2019 (GLOBE NEWSWIRE) -- Elixinol, a wholly owned subsidiary of Elixinol Global (referred hereafter as EXL) (ASX: EXL; OTCQX: ELLXF), has expanded its EU operations with key personnel hires and offices in the Netherlands, Spain, and the United Kingdom.
The appointments are accompanied by a new go-to-market strategy and key initiatives including the launch of new e-commerce capabilities, sales hubs, with 12 full-time sales and marketing employees, in the Netherlands, Spain, and the United Kingdom aimed at capturing the European cannabis market opportunity, which analysts expect will be worth more than $130 billion in annual sales by 2028 (in today’s dollars).
A mid-2018 capital raise by EXL to support global expansion has funded both the European expansion and further investment in Japan, previously announced in September.
“This expansion of our European team and infrastructure reflects the trust our European customers place in Elixinol,” said Gabriel Ettenson, President of Elixinol.
“Elixinol has a long history in Europe and we recognize the importance of our European partnerships and look forward to expanding those relationships as organic hemp CBD product acceptance around the globe increases,” he continued.
The expansion allows Elixinol’s robust line of products to emerge in a variety of new retail categories. In addition, Elixinol’s newly upgraded e-commerce capabilities will further reinforce the effort and improve the global online customer and brand experience. Local European contracts will support product fulfillment.
“Elixinol is an innovative and dynamic company. We will continue to meet and exceed customer expectations by developing new products and making them available around the globe,” said Ettenson.
The European expansion is expected to benefit from new product innovations and increased global awareness of the Elixinol brand, now on the heels of relaxed U.S. restrictions of the marketing and sales of hemp extracts as a result of the U.S. Farm Bill.
“Elixinol has the world’s most innovative premium CBD products. The European consumer will now have even more access to those and future innovations,” said Chris Husong, Elixinol’s Director of Sales and Marketing.
By meeting and exceeding extraction and processing guidelines around the globe, Elixinol’s products are available to 41 countries.
Colorado-based Elixinol, co-founded by Paul Benhaim, hemp entrepreneur since 1991, is widely regarded as one of the most influential CBD brands in the world. With a proven track record of growing and extracting premium-quality hemp, Elixinol is one of the few CBD hemp extract brands with complete seed-to-sale control over its products. Elixinol also conducts rigorous third-party laboratory testing and quality control. Elixinol distributes hemp-derived CBD products in 41 countries globally including North and South America, throughout Europe, Asia, and the Pacific Region under its own label as well as bulk CBD and wholesale CBD. Elixinol’s parent company EXL (elixinolglobal.com) is publicly traded on the Australian Securities Exchange and on the U.S. OTC (ASX: EXL, OTCQX: ELLXF). More information available at Elixinol.com.
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