Queensland Bauxite Ltd

The Directors present their report on Queensland Bauxite Limited, consisting of Queensland Bauxite Limited (ASX:QBL) and the entities it controlled at the end of or during the half-year ended 31 December 2017.

The Board of Queensland Bauxite Limited (ASX:QBL) is pleased to announce that its subsidiary company Medical Cannabis Limited through its wholly owned subsidiary Medical Cannabis Research Group Pty Ltd, has signed a Research Funding Agreement with the Research & Development Foundation at the Technion Institute, Haifa, Israel.

Queensland Bauxite Limited (ASX:QBL) provides the Company's Quarterly Activities Report.

I am delighted and proud on behalf of the Board of Queensland Bauxite Limited (ASX:QBL) to inform our shareholders that Mr John Easterling has agreed to join the board of our Cannabis subsidiary Medical Cannabis Limited.

The Board of Queensland Bauxite Ltd (ASX:QBL) is thrilled to be involved in bringing to Australia, through its subsidiary MCL, a fundamentally new product in the world cannabis market, and especially in the Australian market that should be one that will be accepted by the medical industry at large due to the unique benefits and advantages enumerated below.

The Board of Queensland Bauxite (ASX:QBL) is pleased to update its shareholders about the significant progress that its subsidiary company Medical Cannabis Limited (MCL) has recently made in executing its business plan and particularly in relation to MCL's Vitahemp food company and its impressive client list.

The Boards of Queensland Bauxite Limited (ASX:QBL) and Algae.Tec Ltd (ASX:AEB) are delighted to announce a significant Australian ground breaking agreement whereby AEB will exclusively license Medical Cannabis Limited's Low THC Delta 9 Cannabis cultivars from the unique Australian Cannabis seed bank owned by Medical Cannabis Limited.

The Board at Queensland Bauxite (ASX:QBL) is excited with the recent success and progress of its investment in Medical Cannabis Ltd, particularly as the medicinal focused arm of that Company, Vitacann, has signed a Letter of Intent for a joint venture subject to full documentation with an Israeli recommended group of North American chemists.

The Board of Queensland Bauxite (ASX:QBL) is pleased to provide an update on the South Johnstone Bauxite Project.

This week provided further major milestones in Queensland Bauxite's (ASX:QBL) investment in Medical Cannabis Ltd. MCL has made major progress in its Vitahemp brand's "farm-gate to retail" fully vertically integrated journey. Mass production and mass farming is now underway and Australia's largest current hemp seed import for sowing has now cleared quarantine for MCL.