Little Green Pharma Begins Trading On Australian Exchange, Enters Purchase Agreement With Astral Health

ELIXXER, LTD.  ELIXF announced Thursday that Little Green Pharma has commenced trading on the Australian Stock Exchange under the ticker symbol "LPG."

The company had a $10-million initial public offering that was completely subscribed with banking group Cannaccord Genuity Australia.

In addition, Little Green Pharma has also entered into a binding purchase agreement with Astral Health, which is an importer and distributor of medicinal cannabis products, and a subsidiary of LYPHE Group, a patient-led medicinal cannabis health care provider.

The agreement has a five-year term and it requires Astral Health to buy, import and deliver Little Green Pharma’s medicinal cannabis products to its patients in the U.K.

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

 “This is an important milestone for Little Green Pharma as we enter the UK market and will provide us with an early mover advantage in what is anticipated to be a large medicinal cannabis market," Fleta Solomon, Little Green Pharma's managing director, said in a statement.  

“The agreement positions LGP as one of very few companies with GMP medicinal cannabis products to supply into the U.K. and Europe and follows our first purchase order from Germany. We are excited to be working with LYPHE Group, who hold a commanding share of the U.K. patient market. LYPHE Group’s strong network of medicinal cannabis clinics positions them at the forefront of the UK market and makes them the ideal partner for LGP in the U.K.”