Australian Queensland Bauxite, a company owning in excess of 500 km2 of bauxite prospective terrain in eastern Australia, has highlighted its investment in two Israeli companies in a report called by a to officer in the company its “most significant to date.”
In a press statement issued on May 1, QBL’s Executive Chairperson and responsible for Business Development where the company announced following a strategic decision to enter the medical cannabis market, Pnina Feldman, wrote:
“We are currently in the midst of an international expansion project that has taken Queensland Bauxite Ltd from purely an exploration company, through its investment in Medical Cannabis Limited (MCL), to become a dominant global player in the burgeoning multi-billion dollar medical Cannabis Industry.”
Feldman listed in the report 10 formal agreements, joint ventures and projects it has undertaken over the past six months.
EndoCRO Ltd, is the first item on the list. The company has signed a deal with QBL for the formulation of a unique medical Cannabis drug delivery system.
The second Israeli cooperation highlighted in the report is with the Technion, the prestigious science academy.
QBL’s Medical Cannabis Research group (MCRG) has signed an agreement to fund the research studies of the Technion’s Dr. David (Dedi) Meiri and his team, as they investigate the intervention of medicinal Cannabis to disrupt the debilitating mechanisms of Autoimmune Disease, in particular, Multiple Sclerosis. MCRG has the rights to an exclusive license agreement to benefit from any discoveries that come as a direct result of the research being conducted by Dr Meiri and his team.
The company has pledged $3 million to fund Dr. Meiri’s research.
Among the other projects listed in the report are agreements with medical cannabis companies in Australia, Canada and the US.