MANILA, Philippines — Greenergy Holdings Inc. of businessman Antonio Tiu has acquired a majority stake in an Australian firm, expanding the listed company’s portfolio to include biotechnology.
Greenergy in a stock exchange filing said it acquired 51 percent of Yakuru Group Pty. Ltd. (YGPL), which recently introduced its Yakuru line of cannabidiol (CBD) or medicinal marijuana products in Australia.
The Philippine-listed company, through the Yakuru Group, will be focusing on development and global marketing of medical hemp and its primary byproduct, CBD oil.
Greenergy said its entry into the flourishing CBD industry comes after the recent decision of Australia’s Therapeutic Goods Administration for over the counter cannabidiol sales without prescription, which led to a significant jump in share prices of CBD firms listed in the Australian Securities Exchange.
CBD oil, it said, has been well received in Australia and other parts of the world, as it is used for pain management, anxiety disorders and a host of other physiological conditions without getting “high.”
“We want to bring the many benefits of CBD to those afflicted by ailments without an appropriate solution in Australia, the Philippines and other parts of the world,” Stewart Adams of Yakura Group said in a statement. [Read more @ Philstar]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
“I know there are paths forward for the industry, but I’m becoming more and more cynical of Congress’ ability or desire to do anything,” a Michigan cannabis operator said. For the cannabis industry, 2021 was supposed to be the year of reform and opportunity. Democrats were in control of both the White House and Congress,…
Legalization was supposed to take care of the black market. It hasn’t worked out that way. CAVE JUNCTION, Ore. — The first unlicensed cannabis grow popped up near Gary Longnecker’s remote Southern Oregon home seven years ago. Now there are six farms surrounding the densely-forested property. “Last night I woke up at 12:30 with gunshots.…
The cannabis industry cannot reach its full potential without women leading the charge as well. Over the past two years, the U.S. has pulled ahead as one of the most valuable cannabis markets in the world, with projections estimating the U.S. market to be worth over $90 billion by 2026. However, even in this period…
Democratic lawmakers want to legalize marijuana, and they’re urging Florida’s Republican-controlled Legislature to do it now. Thus far, Democrats have proposed at least 10 marijuana-related bills in the 2022 Legislative Session. At least one measure would outright legalize marijuana (HB 467), while another would decriminalize the drug and other addictive substances. All will face an…