Releaf Dispensaries Pty Ltd, a wholly-owned subsidiary of Releaf Group Ltd, has been granted an Import and Export Licence by the Australian Government Department of Health, through the Office of Drug Control. Releaf Group Ltd is APAC’s first cannabis franchise group.
The licences enable the group to further expand on their vertically integrated model within Australia and New Zealand, widening operating margins across their distribution chain of clinics and dispensaries and coinciding with the launch of their export division as Releaf expands internationally and opens up new export markets for Australian produced or packaged products.
“At Releaf Group, we’ve recognised the opportunity that Import/Export provides. There are significant global growth opportunities for exporting Australian products in a market which is anticipated to reach more than $200 billion in retail sales globally within the next 15 years, and the market is opening up much more rapidly than originally anticipated.” Gary Mackenzie, Co-Founder and CEO, Releaf Group Ltd.
Releaf Group is the first and leading medical cannabis clinic and dispensary company in the APAC region. Its vertically integrated “seed-to-sale” operations is commencing an aggressive rollout of a widespread clinic and dispensary network. Releaf is committed to growing its clinic and dispensary footprint across Australia and New Zealand, South Africa, Hong Kong and the United Kingdom, constantly identifying new high street locations that will bring Releaf closer to patients, allowing easier access to medicinal cannabis prescribing and medicines. The company has plans to establish 200 sites globally within the next 5 years. Its first-mover advantage in the region driven by strong financial performance across the group’s 6 business units is providing continual growth as it heads towards a planned IPO in 2021.
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investorrelations@releafgroupltd.com