Queensland Bauxite’s (ASX: QBL) subsidiary Medical Cannabis plans to launch its first line of VitaHemp products at the upcoming Health and Innovation Expo in Melbourne, and will begin mass production this week for local and international markets.
Medical Cannabis technical director Andrew Kavasilas said the company’s research has revealed large consumer interest for its products. Once in the market place, the VitaHemp products are predicted to generate “significant cash flow” in 2018.
At the expo, which will be held on 3 December, Queensland Bauxite shareholders will be able to grab and taste product samples.
The first products available to consumers will be VitaHemp hulled hemp seeds, raw cold pressed hemp seed oil, hemp seed powder and hemp seed flour blends.
The products all contain nutritional elements such are core omegas, fibre, minerals and high protein concentrations.
Meanwhile, more “innovative” proprietary VitaHemp products are nearing completion and will be released imminently, including a hemp honey, which the company anticipates may sell for $49.95 in a 320g jar.
According to Queensland Bauxite, this hemp honey is showing “powerful nutritional properties” in laboratory testing and the VitaHemp team claims it may be the world’s “healthiest and nutritious honey”.
Commenting on the product launch, VitaHemp team member and Hemp Hulling director Peter Edwards said the VitaHemp seeds were fresh and the company’s strict quality processing standards ensured maximum nutrition ended up in the final product.
According to Mr Edwards, this gives the VitaHemp product an advantage with new Australian Government regulations making it mandatory for imported raw and hulled hemp seeds to be sterilised.
“Australian grown seeds are not only the best and freshest (as they do not require sterilisation), but appear to be the only hemp seed – particularly hulled – that can be confidently bought and consumed in Australia.
“VitaHemp’s all-Australia-grown hemp seeds are safe, nutritionally potent, and supervised throughout the process from extraction from the hemp plant and hulling to manufacture of the goods,” Mr Edwards said.
Mr Edwards also pointed out the VitaHemp seeds are a family food and are not cultivated from cannabis’ psychoactive components. He said hemp only contains trace amounts of THC and is safe to cosume.
Queensland Bauxite owns a 55% interest in Medical Cannabis, which, in turn, has a 55% stake in Hemp Hulling.
This gives Queensland Bauxite exposure to the entire hemp value chain from planting to final product development and distribution.
Queensland Bauxite’s stock was up more than 10% at A$0.063 by early afternoon trade.