to Acquire International Health Food Brands
Sydney, Aug 16, 2018 AEST (ABN Newswire) - The Board of Queensland Bauxite Limited (
ASX:QBL) (or "the Company") is pleased to advise that it has entered into a Heads of Agreement with Sebastian and Samuel Edwards (HHC) to acquire their Health Food Brands.
Sebastian & Samuel Edwards are the owners and directors of Hemp Hulling Co (HHC), of which QBL's subsidiary Medical Cannabis Limited (MCL) owns 55%. The business relationship between QBL/MCL and HHC and the Edwards family has developed significantly during 2018. The expertise and work ethic of the Edwards family on behalf of the development of MCL has been impressive.
Seb & Sam Edwards are the founders of Organic Markets Direct (OMD), a major wholesaler of health foods that include Hemp Seed products, Chia Seeds, Green Leaf Stevia, Cacao, Buckwheat, Brown Rice and other well known health foods.
The Edwards have established Australian & International brands EM Super Foods, Australian Grown Naturals (AGN), Black Bag and OMD. These brands are 100% owned by T12 Holdings Pty Ltd, and should assist significantly in the distribution and production of QBL/MCL's suite of nutritional hemp products.
Organic Markets Direct via brands AGN & OMD, are Australia's largest exporter of Chia Seeds (Australian Grown) into Vietnam, Singapore and Hong Kong. MCL now has direct access to these markets, through this new deal with the Edwards brothers.
QBL, in discussion with the Edwards, felt the time was right that these brands are merged with QBL/MCL, and create one large Health & Wellness Food group underpinned by QBL/MCL's expanding hemp business. This is a true whole-food collective of street market knowledge, corporate knowledge and experience. This newly combined group has a common passion for Australian grown and selective high-end imported health foods.
The terms of the acquisition is an issue of 21,621,622 QBL shares in return for 100% of the shares in T12 Holdings Pty Ltd. This acquisition is subject to shareholder approval to be sought at the upcoming shareholder meeting.
QBL prides itself on connecting dots, finding the right people to enhance its core values, who can produce profits and are motivated to continually do it better. With this new acquisition/merger QBL/MCL have connected with an entire hard-working family, which includes Peter Edwards from VitaHemp. A solid foundation has now been firmly established for QBL/MCL, creating an infrastructure which is now primed for expansion into the burgeoning multi-billion dollar Health Foods market in Australia.
About Queensland Bauxite Ltd
Queensland Bauxite Limited (ASX:QBL) is an Australian listed company focused on the exploration and development of its bauxite tenements in Queensland and New South Wales. The Company's lead project is the South Johnstone Bauxite Deposit in northern Queensland which has rail running through the project area and is approximately 15-24 kilometres from the nearest deep water port. The Company intends to become a bauxite producer with a focus on commencing production at South Johnstone as early as possible. The Company also pursues additional investment opportunities, and has agreed to acquire a 100% shareholding in Medical Cannabis Limited, an Australian leader in the hemp and Cannabis industries, and a 100% shareholding in Medcan Australia Pty Ltd, a company with an ODC cultivation and production License and a DA approved Cannabis production and manufacturing facility.
| ||
|
