Sydney, Sep 26, 2017 AEST (ABN Newswire) - Queensland Bauxite Limited (ASX:QBL) is proud to report on Medical Cannabis Limited (MCL)'s progress with a major milestone achieved this week. 20 tonnes of certified low THC hemp seed for sowing has been secured so that MCL will be able to grow enough low THC cannabis to supply an immediate demand for Australian hemp seed food products, with sufficient Cannabis grown (from which to derive hemp seed) to be able to also manufacture and export Australian produced health foods overseas.

This is particularly significant for the consumer and the industry, as MCL, through its Vitahemp brand, will be amongst the first to introduce hemp foods to a high official quality standard. To date existing Australian importers and producers have not been held accountable to food quality standards made for human consumption. From November all products made for human consumption will be held to official food quality standards. Vitahemp is driving the initiative to develop Australian standards in relation to hemp seed food.

MCL is on track to have its initial products available to markets by November/December of this year when hemp foods become legal for human consumption in Australia.

Andrew Kavasilas, founding director of MCL, has commented "We are in the final stages of selecting a team of farmers that we will supply and assist to contract grow broad acres crops for us during this season. I have been impressed by the farmers we have met and the unique capabilities they each possess.

"Low THC cannabis varieties are known as hemp, and hemp has always been an important plant which produces a super seed rich in the optimal ratio of omega 3,6 and 9 from which Vitahemp products will be made.

"For thousands of years hemp has been used for hundreds of civilisation changing uses including ropes, cloth, sale, textiles, fuel, masonry, medicine and food".

The team at MCL headed by Andrew Kavasilas, is focused primarily on genuine Australian grown seed from which it aims to produce delicious, innovative and super nutritionally prepared and packed healthy foods for worldwide consumption.

Mr Kavasilas said "We are proud to become a major Australian healthy food manufacturer with our own varieties of highly nutritious hemp seed food products that will not only look good, be full of essential fatty acids (EFA), vitamins, minerals and nutrients, but will also taste great!

"Vitahemp will not only be bringing great hemp food to Australia and the world, with Food Authority assistance, we will have a major goal to educate ourselves and younger folk about healthy eating habits, why and how hemp food products will enrich our diet. This education will be achieved through high-profile marketing, information brochures, complimentary samples and tastings via Vitahemp's public promotions, sponsorships and partnerships.

"Vitahemp's top quality product range and dedication to service means that MCL will bring the healthiest, freshest and great tasting products from the crop to the shelves."

Pnina Feldman, Executive Director and Chairperson of Queensland Bauxite said "Significant cash flow is essential to the success of any company. Queensland Bauxite is really looking forward to the success from its investment which will benefit our shareholders."

Simultaneous to achieving in the hemp seed food product arena, MCL is actively negotiating strategic alliances and partnerships in the medicinal cannabis area of its business in Australia, Israel, Canada, Asia and Europe, and such partnerships will be announced to market as soon as they are formalised and become material to the market.


About Queensland Bauxite Ltd

Queensland Bauxite Ltd ASX QBLQueensland 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.

  


Contact

Pnina Feldman
Executive Chairperson
Queensland Bauxite Limited
Tel: +61 (0)2 9291 9000
E: sfeldman@queenslandbauxite.com.au



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