Argent BioPharma has completed a placement of 11,250,000 shares at US$0.40c (A$0.65c) each, raising US$4.5 million (A$7.3m) in total. The funds are intended to push the company's drug development pipeline forward.
Among the key priorities is advancing Argent's CannEpil epilepsy treatment alongside its planned clinical studies.
The company is also undergoing a strategic review aimed at securing the long-term viability of its business. This follows its departure from the London Stock Exchange, with a US listing now in the company's plans.
Greenfern Industries
Greenfern Industries (GFI) has obtained a six-month loan facility of NZ$200k plus fees and interest, provided by Emdex Limited.
GFI said in a statement to the NZX that the loan is intended to deliver short-term funding for its continuing operations and strategic initiatives.
The company is also preparing to convene a special shareholder meeting in the coming weeks, at which members will vote on a number of related party loans and agreements.
