Cannasouth raises $6m, signs deal for 'white label' cannabis

Mon, 04 May 2020

Cannasouth has raised $6 million from its share purchase plan to accelerate its growth plans, including a new supply deal for 'white label' cannabis. The biopharmaceutical research and development company sold 15.8 million shares 38 cents apiece, a 20.7 percent discount to the five-day volume weighted average price. The shares rose 8.7 percent to 50 cents in early trading today. The original SPP, announced on 15 April, aimed to raise up to $5 million from existing Australian and New Zealand shareholders who could apply for up to $50,000...

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