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Wednesday 26 June 2024

Melodiol Global Health (ASX: ME1): Prepares for its new medicinal cannabis clinic.

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to advise that its wholly owned Australian subsidiary, Health House Australia, continues to make strong operational progress. Over the past several months, Health House Australia has undertaken significant internal analysis and planning for the launch of its medicinal cannabis clinic. Health House Australia expects the Health House Wellness Clinic to be operational in Q2 of 2024 and views this activity as a key strategic objective. The operation of the Health House Wellness Clinic is expected to significantly extend Health House Australia’s value proposition to existing and prospective suppliers. The ability to attract and add new suppliers to the group’s portfolio is a significant driver of the group’s ability to grow revenues.

Highlights:

• Health House Australia announces the planned launch of its medicinal cannabis clinic in Q2 of 2024

• The group is also pleased to announce that it has added several new suppliers during Q1 of 2024

• Health House Australia was a key contributor to Melodiol Group FY 2023 revenues of $21.6m (an increase of 148% on FY 2022)

Commentary:

CEO and Managing Director, Mr William Lay said: “Since being Australia’s first company to import medicinal cannabis in 2017, Health House Australia’s unwavering commitment to great service and integrity has led to it becoming one of the trusted names within the distribution of medical cannabis in Australia. I am very proud of our team for their hard work to remain a supplier of choice for existing relationships, and for continuing to expand the supplier base. Additionally, we are very excited about the launch of Health House’s medical cannabis clinic in Q2 of 2024, which will serve to further strengthen Health House Australia’s value proposition to existing and new suppliers.”

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