ECS Botanics has expanded its loan facility with National Australia Bank by A$2 million as it gears up for the domestic and international release of the Terphogz product line.
The move brings the company's total NAB facility to $5.2m — none of which has been drawn down — with the capital earmarked to support Terphogz launches across Australia, the UK, Germany and New Zealand.
The Australian launch is planned for the current quarter, with the UK rollout pencilled in for mid-year.
Distribution negotiations for Germany and New Zealand are at an advanced stage, with supply contracts expected to be executed this month.
ECS Botanics holds considerable expectations for the Terphogz range after securing an eight-year licensing and marketing agreement with the Californian brand in September 2024.
Managing director Nan-Maree Schoerie said: "We have established a strong foundation for this project, and we anticipate initially launching in Australia this quarter followed by the UK and subsequently Germany and New Zealand based on regulatory timelines for product registrations."
Beyond the expanded NAB funding, the cultivator has also grown a revolving leasing facility by $400,000 to finance a power upgrade for its protective cropping enclosures.
Helius Therapeutics
Helius Therapeutics CEO Carmen Doran departed the company last month, with the firm's largest investor, Guy Haddleton, assuming a more active role in its operations.
Newsroom reports that the company said Doran had left to pursue other professional opportunities, while Haddleton told shareholders he had taken on the role of executive chair in February to "evaluate business performance and strategy" following sales results that fell short of expectations.
Haddleton, who holds close to 85 per cent of Helius as its largest shareholder, said he had also committed a short-term personal loan of NZ$1 million to give the company time to complete its strategic review.
He nonetheless emphasised that the business had a pipeline of new products set to launch over the coming year, and that he was "quietly confident that we have a great business to be proud of".
