Parallel is already profitable, and expects to be cash flow positive this year.
From January 31, residents in ACT will grow small quantities of cannabis in their backyards.
SPONSORED: The Australian cannabis industry is set to expand alongside the global trajectory of exponential growth.
Cannabis plants will be legalised in ACT from January 31, 2020.
The company said it now has the potential to be the first large scale grower of organic hemp in Australia.
The Cannabis Co. made hemp products to help dogs to alleviate pain.
What do you think about the potential of cannabis-infused FMCG goods?
Elixinol plans to become a leading FMCG player in the cannabis sector.
Changes to the Food Standards Code permit the sale of low-psychoactive hemp seed as a food in Australia.
The company will list on the Toronto Venture Exchange giving exposure to a wider pool of investors.
A deal would mark one of the largest combinations between mainstream tobacco and the booming marijuana sector.
Meanwhile in Australia, Althea Group secures distribution of medicinal cannabis products at network of pharmacies.