Wellnex Life’s (ASX: WNX) strategy to penetrate the medicinal cannabis and hemp market in Australia is a step closer under a joint venture with Victoria-based producer OneLife Botanicals.
OneLife is a licensed cannabis producer and manufacturer and has what Wellnex describes as a world-class cannabis production, research and development facility.
It is licensed to generate up to 20 tonnes of product a year.
Under the joint venture terms, Wellnex will have the “first right of refusal” on OneLife’s cannabis-based raw materials and products, which will be sold under a jointly developed brand.
(Originally posted by Cannabis News)