Little Green Pharma has joined a growing list of ASX-listed companies pushing back the closing date on a capital raise, giving shareholders an additional four weeks to participate and boost the total funds collected.
Existing investors had faced a cut-off at the close of business on Monday, but the deadline has now been moved to January 16.
LGP is seeking to raise A$2 million through the share purchase plan (SPP).
"The extension will ensure that all eligible shareholders have additional time to participate in the SPP," the company said.
LGP is the third cannabis company in recent weeks to push back a capital raise deadline, after Cann Group and Althea, both of which cited shareholders not receiving offer documents as the reason for their extensions.
Cann Group ultimately brought in $8.18m — at the lower end of its target — while Althea came up short of its $2.5m goal, collecting $873,000.
LGP has already raised $4 million through a placement to institutional and professional investors, with proceeds from that raise and the SPP earmarked to cover operational expenses.
The company said it is "wholly focused on achieving breakeven and ultimately delivering profitable sales".
