Little Green Pharma Holding exceeds $15M in value for Elixxer

MONTRÉAL, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Elixxer Ltd. (TSX-V: ELXR) (OTC-QB: ELIXF) (FRA: 2LQA) (“Elixxer” or the “Company”) is pleased to share the latest achievements of its largest holding Little Green Pharma Ltd. (LGP). LGP has achieved the following major milestones that are validating our investment:

• Fulfilment of CC Pharma order to Germany (2,400 bottles) or $600,000 AUD order value.

• Partnership with national health insurer that now allows LGP oils to be reimbursed by insurance, now patients can get their much-needed medicine from LGP without worrying about out-of-pocket expenses.

• Grant of the Australian Department of Health, Therapeutic Goods Administration (TGA) GMP manufacturing licence by the Office of Drug Control (ODC) and commissioning of new facility this allows for higher volume production to satisfy the order flow.

• Successful first harvest and capacity increase in expanded new facility.

• First commercial quantity delivered to the UK.
  

For full update from LGP’s AGM update please click here

Currently Elixxer holds 27.4M shares of LGP and December1, 2020 the closing price was $0.60 per share on the ASX, click link: LGP Share Price

Elixxer will be update the investors via press release on further developments from its holdings.

About Elixxer Ltd. (www.Elixxer.com)

Elixxer is a Canadian public company listed on the TSX Venture Exchange (TSX-V: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF).

Through its partners, Elixxer presently has significant interests in Australia, Jamaica, Switzerland, Italy and Canada.

For further information please contact:

Mazen Haddad, CEO: mazen@elixxer.com

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This press release may contain forward-looking statements with respect to Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of Elixxer could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under “Risk Factors and Risk Management” in Elixxer’s most recent Management’s Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws.