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Elixinol Wellness Ltd and CannaCare Health terminate acquisition as changing German market dynamics threaten returns


Elixinol Wellness and CannaCare Health terminate acquisition as changing German market dynamics threaten returns
Elixinol intended to acquire CannaCare but a review of the German cannabis market has seen both parties enter a Termination and Withdrawal Agreement.
The company is pleased with the progress of its US and Australian operations.
Elixinol Wellness Ltd (ASX:EXL) (OTCQB:ELLXF) (FRA:E8M) and German-based CBD business CannaCare Health GmbH have mutually agreed to terminate a share purchase agreement following a changing German cannabis market that revealed financial concerns.
Elixinol will be reimbursed €360,000 by CannaCare to cover costs incurred to date; the acquisition was first announced in mid-March this year. ....

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Elixinol Wellness Ltd's core priorities to reignite US and UK businesses and integrate CannaCare as it fuels Canobo growth


Elixinol Wellness Ltd’s (ASX:EXL) (OTCQB:ELLXF) (FRA:E8M) core priorities are to reignite its US and UK businesses following the severe COVID-19 restrictions and integrate recently-acquired CannaCare into the Elixinol Group whilst fuelling the Canobo growth. 
It is also targeting shifting its business to digital and optimise cost and margins as it transforms into a world-leading hemp-derived, natural health and wellness consumer products business. 
The company, which has undergone a substantial evolution over the past 12 months, believes the management team’s strengthened strategic, commercial and governance capabilities positions it perfectly for the next phase in its development.  ....

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