Medical cannabis firm Eqalis poised to close $7m funding round

Mitch Cuevas says attrition in the cannabis industry is a certainty. (Image: Supplied)

Mon, 09 Aug 2021

Eqalis Pharmaceuticals will raise $7 million in new equity in its latest private funding round as the medicinal cannabis firm gears up manufacturing capacity at its Katikati operations.The funding round was broken into two tranches, with the bulk raised in July and the paperwork on the final $1.6m to be completed shortly. It’s the fifth round of funding since the Bay of Plenty firm was incorporated in January 2019. Those have ranged from placements of $250,000 to between $2m and $3m.Its backers include Comvita founder Alan Bougen, Cr...

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