Melodiol Global Health (ASX: $ME1) Update

Melodiol Global Health Limited (ASX: $ME1) has announced the planned launch of its medicinal cannabis clinic in Q2 of 2024 through its wholly owned Australian subsidiary, Health House Australia. The company also added several new suppliers during Q1 of 2024 and was a key contributor to Melodiol group FY 2023 revenues of $21.6m, marking a 148% increase from FY 2022. Additionally, a placement has been completed to fund working capital requirements.

CEO and Managing Director, Mr William Lay's Commentary

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.

Summary of Melodiol Global Health (ASX: $ME1) Announcement

Melodiol Global Health (ASX: $ME1) has made significant operational progress through its subsidiary, Health House Australia, with the planned launch of its medicinal cannabis clinic in Q2 of 2024. The addition of new suppliers during Q1 of 2024 and the company's contribution to Melodiol group FY 2023 revenues of $21.6m demonstrate its commitment to growth and expansion. The completion of a placement to fund working capital requirements further strengthens the company's position. CEO and Managing Director, Mr William Lay, expressed pride in the team's efforts and excitement for the upcoming clinic launch, highlighting the company's dedication to service, integrity, and expansion. The outlook for Melodiol Global Health appears positive as it continues to pursue its strategic objectives and strengthen its value proposition in the market.