Highlights
• AusCann has raised A$33.4 million via a share placement to institutional and sophisticated investors from North America and Australia
• AusCann will use the proceeds of the Placement to fund cannabinoid pharmaceutical R&D and clinical studies, expansion of its operations in Chile and Australia, medical outreach programs in new international markets and working capital
• Canaccord Genuity (Australia) Limited acted as lead manager and bookrunner to the Placement
• The Company intends to offer an SPP to eligible existing shareholders
Thursday, 5 July 2018 – Leading medical cannabis company AusCann Group Holdings Limited (ASX:AC8) (‘AusCann’ or ‘the Company’) is pleased to announce it has successfully completed a capital raising of A$33.4 million via a share placement (‘the Placement’).
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