Green thumbs up for Cannasouth, Eqalis cross-pollination

The tie-up will create a fully integrated player in the market. (Image: Cannasouth)

Mon, 17 Apr 2023

The proposed $48.8 million merger of medicinal cannabis firms Cannasouth and Eqalis and subsequent capital raising found favour with the independent adviser gauging the deal’s merits, which give the enlarged company funding for the next 12 months. NZX-listed Cannasouth is buying Eqalis in an all-share deal, issuing almost 147.9 million shares at a notional price of 33 cents a share, then plans to raise between $7m and $11m selling new shares at 29 cents apiece. Cannasouth shareholders will vote on the various proposals at a spec...

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