ASX-listed CBD and hemp firm Elixinol plans to focus on the Australian and US markets after reporting that sales in Europe has been on the decline due to regulatory uncertainty and COVID-19 restrictions.
CBD specialist Elixinol Global has managed to hit its capital raising target of AUD$11m (US$7.3m) following a two-stage fund raising exercise, which it believes is a proof of how its CBD supplements have resonated with its investors.
A number of hemp and CBD product manufacturers have expressed interest in doing business in Thailand, after the country recently announced changes to its regulations.
The regulatory framework and the history of using medicinal cannabis in the APAC market have laid a strong foundation for the expansion of CBD supplements in the region, according to manufacturer Elixinol.