I am delighted and proud on behalf of the Board of Queensland Bauxite Limited (ASX:QBL) to inform our shareholders that Mr John Easterling has agreed to join the board of our Cannabis subsidiary Medical Cannabis Limited.
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 acquired a 55% shareholding in Medical Cannabis Limited, an Australian leader in the hemp and Cannabis industries.
The Board of Queensland Bauxite Ltd (ASX:QBL) is thrilled to be involved in bringing to Australia, through its subsidiary MCL, a fundamentally new product in the world cannabis market, and especially in the Australian market that should be one that will be accepted by the medical industry at large due to the unique benefits and advantages enumerated below.
The Board of Queensland Bauxite (ASX:QBL) is pleased to update its shareholders about the significant progress that its subsidiary company Medical Cannabis Limited (MCL) has recently made in executing its business plan and particularly in relation to MCL's Vitahemp food company and its impressive client list.
The Boards of Queensland Bauxite Limited (ASX:QBL) and Algae.Tec Ltd (ASX:AEB) are delighted to announce a significant Australian ground breaking agreement whereby AEB will exclusively license Medical Cannabis Limited's Low THC Delta 9 Cannabis cultivars from the unique Australian Cannabis seed bank owned by Medical Cannabis Limited.
The Board at Queensland Bauxite (ASX:QBL) is excited with the recent success and progress of its investment in Medical Cannabis Ltd, particularly as the medicinal focused arm of that Company, Vitacann, has signed a Letter of Intent for a joint venture subject to full documentation with an Israeli recommended group of North American chemists.
The Board of Queensland Bauxite (ASX:QBL) is pleased to provide an update on the South Johnstone Bauxite Project.
This week provided further major milestones in Queensland Bauxite's (ASX:QBL) investment in Medical Cannabis Ltd. MCL has made major progress in its Vitahemp brand's "farm-gate to retail" fully vertically integrated journey. Mass production and mass farming is now underway and Australia's largest current hemp seed import for sowing has now cleared quarantine for MCL.
The Board of Queensland Bauxite (ASX:QBL), is anticipating that the successful launch of these premium all-Australian products, will generate significant cashflow for the Company in 2018, and enable dividends for shareholders.
The Board of Queensland Bauxite (ASX:QBL) considers that a monumental milestone has been reached by Medical Cannabis Limited, QBL's Hemp Seed Food production and medicinal Cannabis investment company.
A significant milestone has now been reached in Australia that has a major positive impact on the potential business, cashflow and profitability for Queensland Bauxite Limited's (ASX:QBL) investment in Medical Cannabis Limited.