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DENVER, Jan. 23, 2019 (GLOBE NEWSWIRE) -- Elixinol’s cannabidiol (CBD) products will now be available in New Zealand. Elixinol is a wholly owned subsidiary of Australian-based Elixinol Global Limited (ASX: EXL; OTCQX: ELLXF).
The announcement comes on the heels of the December 2018 passage of New Zealand’s Misuse of Drugs (Medicinal Cannabis) Amendment Act which classifies CBD, with low levels of THC as prescription medicine and removes CBD as a Class B1 controlled drug.
The Act recognizes CBD as a substance with “therapeutic value with little or no psychoactive properties.”
Individual patients may now import up to a 3-month supply of CBD products, provided those products meet prescription medicine guidelines. Medicinal practitioners, pharmacies may also import and sell CBD products as can individuals or companies holding a license to sell medicines in New Zealand. Patients in New Zealand may now enter or leave New Zealand with up to 3 months supply of CBD with evidence of prescription.
Elixinol brand capsules, topicals, and all tinctures including Liposomes meet the required standard for import into New Zealand. Elixinol has already started to receive prescriptions and is happy to announce the first shipment has now been successfully received in New Zealand.
“As a company who meets and exceeds quality and import standards in 40 different countries, we welcome the opportunity to serve the people of New Zealand with premium quality CBD,” said Gabriel Ettenson, Elixinol President.
“For years now, we have been receiving inquiries from people in New Zealand who want to utilize CBD for their therapeutic purposes and until now, we’ve been unable to assist,” he continued.
Paul Benhaim, CEO of parent company EXL, commented, “Over the past few weeks, we have seen a groundswell of change in legislation related to cannabidiol. The US Farm Bill was passed in December, and through that process, CBD was descheduled from the Controlled Substances Act. Now, this change in New Zealand enables Elixinol to ship CBD to patients who have been requesting it for years. We are delighted to be one of the first companies to supply New Zealand patients with the range our US customers have been benefiting from for years.”
Customers with valid prescriptions in New Zealand should contact Elixinol through the website: elixinol.com
The change in New Zealand’s classification for CBD comes only weeks after the U.S. government also removed CBD as a Class 1 Schedule Drug and made hemp extracts, including CBD, federally legal with the passing of the 2018 Farm Bill.
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 40 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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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f84ad4db-e2ab-408d-adb7-d82b1525d56c