Releaf Clinics & Dispensaries Expands National Franchise Network to Thirteenth Location

Releaf Group, the leading retail provider of bricks-and-mortar medical cannabis clinics and dispensaries and plant-based medicines in Australia is pleased to announce that the company has secured their twelfth and thirteenth locations in Prahran, Victoria, and Varsity Lakes, Gold Coast, to join their national franchise network under the Releaf banner.

The new clinics and dispensaries will be staffed by experienced medical professionals trained in the latest cannabis therapies and treatments. They will offer a range of products and services, including consultations, prescriptions, and ongoing patient support.

Releaf, an unlisted public company in Australia, has successfully developed an end-to-end patient access model over the past 5 years that is second to none in the healthcare and retail sectors. The company leads the medicinal cannabis sector in face-to-face clinic consultations and high-street dispensing. 
 

The Releaf pharmacy network is agnostic servicing the majority of all of the available cannabis brands and their products Australia-wide to provide their patient base with a multitude of product choices, differentiating themselves from online competitors with restrictive models only offering a small selection of available medicines to patients. 
 

Releaf also operates a national telehealth consultation and pharmacy delivery or in-store pick-up service with over 15,000 prescriptions currently being dispensed monthly and growing. The company has serviced over 100,000 customers across clinics and pharmacies with continued growth month-on-month and boasts the largest cannabis-trained General Practitioner and pharmacist network in Australia.

Currently the national combined clinic and pharmacy revenues for Releaf's first 5 established franchise sites are annualised at over AU$30 million. Revenues for clinics and pharmacies are expected to double by the end of the March 2024 quarter as the other 8 Releaf locations become established in the marketplace. The Releaf board are considering listing in 2024 as a means to access additional capital and is currently fielding offers to assist expansion onto the ASX in 2024, with a longer-term view to list on an international exchange such as the NASDAQ or London Stock Exchange.  

"The combined revenues and earnings capacity in 2024 of the existing franchises is forecast to be over AU $115 million per annum with earnings capacity of over $34 million", said Gary Mackenzie, CEO and Founder of Releaf Group.

"We are thrilled to have secured these significant milestones in retail distribution of 13 Releaf Clinic and Dispensary locations across Australia, with a view to having over 20 sites in operation by the end of 2024. Our expansion has not come easily over the past 5 years with many commercial obstacles along the way to reach this milestone. The Releaf board will now look towards a number of local and international funding avenues in the public arena to keep expanding our retail medical model across Australia and into the United Kingdom and Thailand."

"We believe that medical cannabis has the potential to revolutionise the way we treat a wide range of conditions," said the CEO. "Our mission is to make plant-based medicines and treatments more accessible and affordable and this milestone brings us a step closer to achieving these goals."

Releaf Group has already established itself as the leading provider of medical cannabis services in Australia and has made a recent move also into prescribing and dispensing psychedelics for qualified patients. Releaf Group is committed to advancing the field of medical cannabis and psychedelic medicines globally, improving the lives of those who need it most.

For more information about Releaf Group visit: 
www.releafgroupltd.com

For investment enquiries please contact:

contact@releafgroupltd.com