We are finally seeing a bit of a pullback in shares of Elixinol Global Ltd (OTCMKTS:ELLXF), which have dipped down from over $4.25/share to test the $3.50/share level in recent days. To further flesh out the story, the company just announced that it has appointed Mr. Greg Ellery, a consumer retail specialist, as Non-Executive Director to the EXL Board of Directors, effective 12 April 2019.
According to the release, “Greg’s senior executive career was most recently at beverages giant Asahi Premium Beverages, where he served as CEO of its Asia Pacific division for five years. He has extensive international Consumer Packaged Goods (CPG)/ Fast Moving Consumer Goods (FMCG) experience within multinational, publicly listed companies across a number of sectors, including beverages, consumables, imaging products and apparel. Previously, Greg held executive positions for several notable companies, including Spectrum Brands, Polaroid Corporation, Fosters Group and New Balance Athletics.”
Elixinol Global Ltd (OTCMKTS:ELLXF) trumpets itself as a company that engages in the industrial hemp and medicinal cannabis business in Australia.
It manufactures and distributes industrial hemp-based dietary supplements and foods, and skincare products; and medicinal cannabis. The company is based in Sydney, Australia.
Moreover, Elixinol Global Ltd. engages in the industrial hemp and medical cannabis business in Australia. It manufactures and distributes industrial hemp-based dietary supplements, foods, and skincare products in the USA.
According to the company materials, “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 including North and South America, throughout Europe, Asia, and the Pacific Region under its own label and 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).”
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As noted above, ELLXF just announced that it has appointed Mr. Greg Ellery a consumer retail specialist as Non-Executive Director to the EXL Board of Directors, effective 12 April 2019.
The chart shows 45% tacked on to share pricing for the stock in the past month. Moreover, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 34% above the average volume levels in play in this stock over the longer term.
“Elixinol Global has created an exceptional brand with a unique leadership position in the hemp and CBD markets across the globe,” stated Greg Ellery. “I look forward to utilizing my background in leading consumer packaged goods companies throughout the USA, Europe and Australia to support the fast growth Elixinol is experiencing while also providing guidance on effective corporate governance practices.”
At this time, carrying a capital value in the market of $429.89M, ELLXF has a significant war chest ($42.9M) of cash on the books, which must be weighed relative to about $7.2M in total current liabilities. One should also note that debt has been growing over recent quarters. ELLXF is pulling in trailing 12-month revenues of $37.1M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 49.4%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $ELLXF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ELLXF, either long or short, and we have not been compensated for this article.