MediCann Health has secured A$757,000 from 559 investors through crowdfunding platform Birchal as the company works toward opening a dedicated cannabis dispensary in Western Australia.
With eight days remaining in the campaign, the company is seeking to raise as much as $1.95m to fund the dispensary, broaden its medicine offerings, and grow its sales and support workforce.
MGC Pharmaceuticals
MGC Pharmaceuticals has finalised a 1:1,000 consolidation of its total issued capital following shareholder approval, alongside the settlement of a US$7.9 million share placement announced last week.
Managing director and CEO Roby Zomer said: "I am delighted to announce that the company has successfully concluded its full capital restructuring and refinancing, thanks to the backing of a number of strategic, high net-worth investors from the US and Europe.
"These individuals fully understand the company's long-term potential and are committed to supporting its operations, execution of the business plan to maximise the MGC Pharma enterprise value and shareholder returns.
"As of today, our company is now fully funded and well-positioned to proceed with the execution of its pharmaceutical work plan for 2024."
In September, the company outlined plans for a restructure aimed at securing its future amid what it described as "dire alternatives".
Bod Science
ASX-listed Bod Science continues in a trading halt as it works through the details of a capital raise flagged last week.
The voluntary suspension will stay in place until the company issues a market announcement about the raise, or until trading opens on Wednesday (November 8).
UPDATE (November 8): Bod Science has resumed trading after releasing details of a placement that will raise more than A$2 million.
