The Board of Queensland Bauxite Limited (ASX:QBL) is very pleased to announce a materially strategic transaction, that its soon to be wholly owned subsidiary Medcan Australia, has entered into a memorandum of understanding with top Israeli medicinal cannabis company Pharmocann.
Queensland Bauxite Ltd
Queensland Bauxite Limited (ASX:QBL) is an Australian listed company focused on the exploration and development of its bauxite tenements in Queensland and New South Wales. The Company's lead project is the South Johnstone Bauxite Deposit in northern Queensland which has rail running through the project area and is approximately 15-24 kilometres from the nearest deep water port. The Company intends to become a bauxite producer with a focus on commencing production at South Johnstone as early as possible. The Company also pursues additional investment opportunities, and has agreed to acquire a 100% shareholding in Medical Cannabis Limited, an Australian leader in the hemp and Cannabis industries, and a 100% shareholding in Medcan Australia Pty Ltd, a company with an ODC cultivation and production License and a DA approved Cannabis production and manufacturing facility.
This attached supplementary prospectus of Queensland Bauxite Ltd (ASX:QBL) has included some updated information on the original prospectus that was lodged with the ASIC on 27 September 2018.
The Board of Queensland Bauxite Limited (ASX:QBL) is pleased to announce that its soon to be wholly owned subsidiary, Medcan Australia, has secured a Medical Cannabis Manufacture Licence under the ODC.
Queensland Bauxite Ltd (ASX:QBL) Prospectus has been prepared for an offer of up to 170,000,000 new Shares at an issue price of $0.035 per Share to raise up to $5,950,000, with a minimum subscription of $1,995,000 together with one (1) free attaching Option for every two (2) Shares subscribed for and issued.
The Board of Queensland Bauxite Limited (ASX:QBL) is pleased to present a set of proposed resolutions and explanatory statements, which will see the merger of Medical Cannabis Limited into the Company and the acquisition of MedCan Australia, enabling the Company to have all the licences and facilities currently needed, to progress the Cannabis business and humanitarian goals of the company.
The Board of Queensland Bauxite Limited (ASX:QBL) is pleased to advise that it has entered into a Heads of Agreement with Sebastian and Samuel Edwards to acquire their Health Food Brands.
The Board of Queensland Bauxite (ASX:QBL) is pleased to announce a materially positive update regarding the company's research into the use of medical cannabis in autoimmune disease treatment.
Queensland Bauxite Ltd (ASX:QBL) provides the Company's Quarterly Report.
Further to the Transformation Announcement made on 20 June 2018, the Board of Queensland Bauxite Limited (ASX:QBL) has recognised that due to current market conditions, the intended capital raise at 8c is no longer an immediate practical option. As a result, the Board has decided to amend the raising price for the recompliance.
Queensland Bauxite Limited (ASX:QBL) is delighted to announce that Medcan Australia, has now been issued with both an Import & Export Licence under the ODC.