Greenergy Holdings Inc. 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, plans to focus company efforts on developing the global marketing of medical hemp and CBD oil. Greenergy officials reported its entry into the Up and coming CBD industry coincides with the recent decision of Australia’s Therapeutic Goods Administration in favor of over the counter cannabidiol sales without a prescription. The new policy initiative 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.

Cannabis Business Executive – Cannabis and Marijuana industry news, 09/13/2020 07:36:33

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