Ann: Quarterly Report and Appendix 4C, page-28

Thanks for your post. I'm hoping that they will concentrate on the hemp business and not tie up large amounts of capital in developing an MC business.

There are clear signs that production of raw cannabis is going to far outstrip the demand for use in MC, and even with the legalisation for recreational use in some jurisdictions, I suspect that there could be large quantities of raw cannabis oversupply.

Production of hemp on the other hand is more likely to struggle to keep up with demand, particularly as there is almost unlimited scope for new hemp products.

EXL are one of the most experienced and well-established companies in the hemp market, and I hope that they will keep their focus on further developing this market internationally. The export potential for their Australian and USA production bases is enormous.