Australia's Fiji Kava jumps on distribution deal with NZ's Green Cross

Green Cross Health

17/10/2019 02:26

** Biotech firm Fiji Kava Ltd  FIJ.AX  rises as much as 9.4%
to A$0.105, marking its biggest intraday pct gain since Sept 20
    ** Signs memorandum of understanding with New Zealand's
pharmacy chain Green Cross Health Ltd  GXH.NZ   urn:newsml:reuters.com:*:nFWN2710XR
    ** Under the MoU, co's capsules and instant kava powder
mixes will be available in up to 200 Green Cross pharmacies in
New Zealand from Oct
    ** Kava is an extract derived from the plant Piper
Methysticum, and is used in making natural alternatives to
anti-anxiety prescription medicines, among others
    ** Around 706,000 shares change hands vs 30-day avg volume
of about 111,700 shares
    ** Stock down 20% this year, as of last close

 (Reporting by Anushka Trivedi in Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918067491413;))