Ann: MCL and AEB join to develop Cannabis veterinary medications, page-7

MCL and AEB join to develop Cannabis veterinary medications 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. MCL’s License to AEB is in order to establish a breeding program to identify cultivars for use in cannabinoid product development to research and develop stock and veterinary medications, supplements and sophisticated animal therapeutics. MCL will provide AEB with additional assistance and expertise required to cultivate the Cannabis plants, while MCL retains the exclusive rights to develop these cultivars for human medical research and development. This agreement sets AEB up amongst the very few Australian medical cannabis companies with an Australian lawful source of cannabinoid producing plants, starting material, genetics and hands on experience to put it at the forefront of the new age in Australian medical Cannabis law reforms. It also enables MCL to significantly benefit from the groundwork, research and product development that will be performed by AEB. Being able to capitalise on this early mover opportunity, AEB intend to call on its in house expertise and research and development collaborations to develop these medications and therapeutics for the animal and livestock industry.