Friday 16th July 2021
|Text too small?|
As part of Cannasouth Limited’s previously announced capital raising strategy to raise up to $6 million to:
• partially fund the acquisition of the interests that it does not already own in each of Cannasouth Cultivation Limited and Midwest Pharmaceutics (NZ) Limited; and
• provide additional growth capital for Cannasouth,
the Board is pleased to announce that Cannasouth is today opening a non-underwritten $6 million offer to retail investors in New Zealand (“Offer”), comprising:
• a priority offer, which is only available to clients of CM Partners Limited - the Lead Manager of the Offer;
• an offer to existing Cannasouth shareholders through a Share Purchase Plan (“SPP”); and
• a general offer to retail investors through a general retail offer (“General Retail Offer”).
Cannasouth reserves the right to accept oversubscriptions up to $2 million.
Share Purchase Plan
Investors recorded in Cannasouth’s share register as at 5pm on 15 July 2021 (“Record Date”) with an address in New Zealand can subscribe online for up to NZ$15,000 of new shares in Cannasouth (“Shares”).
The offer price for any Shares subscribed for will be 40 cents per share. The new Shares to be issued will rank equally in all respects with Cannasouth’s existing ordinary shares on issue.
For every three new shares subscribed for, an investor will receive one new option to acquire one ordinary share in CBD (“Option”). The exercise price for each Option is 40 cents, and the term of the Option shall be 24 months from the date of issue of the Options. There is no minimum subscription amount. The Option will not be quoted on the NZX Main Board.
The SPP Offer Document will be sent or made available to eligible New Zealand shareholders today and will also be available to those eligible shareholders online at http://www.cannasouthshareoffer.com from today. All eligible shareholders are encouraged to visit that website and apply online before the closing date at 5.00pm on Friday, 30 July 2021.
Please see the links below for details
No comments yet
Australian First: Ebonex, cryptocurrency platform, partners with Mastercard - NASDAQ ANNOUNCEMENT
PCT - Strong leasing performance supports FY22 result
AIA - FY22 Annual Results
Skellerup reports another record result
Seeka Announces Result for the Six Months to 30 June 2022
CMO - Preliminary result and dividend
August 18th Morning Report
FPH - Notification of Issue of Securities
Fletcher Building reports FY22 result, final dividend 22cps
NZA - Resignation of Auditor