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Elixinol Wellness ( (AU:EXL) ) has shared an announcement.
Elixinol Wellness Ltd has successfully raised $2.5 million through a well-supported two-tranche placement, exceeding its initial target of $2 million. The funds will be used to enhance working capital, support inventory growth, streamline operations, and shift towards higher-margin channels to achieve sustained profitability. The company has also appointed Gavin Evans as a strategic advisor to aid in its transformation, following recent acquisitions. This move reflects strong investor confidence in Elixinol’s brands and strategic direction, positioning the company for profitable growth.
More about Elixinol Wellness
Elixinol Wellness Limited (ASX: EXL) is a leader in the global hemp industry, focusing on the innovation, marketing, and sale of hemp and other plant-derived food, skincare, and nutraceutical products. The company operates a vertically integrated business in Australia, producing and distributing products across four verticals: human nutrition, human wellness, pet wellness, and superfood ingredients. These products are marketed under brands such as Hemp Foods Australia, Mt Elephant, The Healthy Chef, Ananda Food, Soul Foods, and Field Day.
YTD Price Performance: -55.26%
Average Trading Volume: 236,386
Technical Sentiment Signal: Sell
Current Market Cap: A$3.91M
See more insights into EXL stock on TipRanks’ Stock Analysis page.