Join our daily newsletter At The Bell to receive exclusive market insights
- Medicinal cannabis company Bod Australia (BDA) has entered a trading halt ahead of an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise and where the funds will be spent
- Company shares will be paused until Monday, December 14, or when more details about the raise are released to the market
- Bod is expecting to benefit from the potential decisions surrounding new reclassification cannabis laws in the U.S. and Europe
- Bod last traded for 61.5 cents per share on December 10
Bod Australia (BDA) has entered a trading halt ahead of an upcoming capital raise.
So far, it is unknown how much the company is aiming to raise and where the funds will be spent.
Under the halt, company shares will be paused until Monday, December 14, or when more details about the raise are released to the market.
The medicinal cannabis and hemp healthcare products company is expected to benefit from potential decisions surrounding new reclassification cannabis laws in the U.S. and Europe.
Earlier this month, Bod received a $200,000 purchase order for its hemp seed oil products. The order came from its exclusive global partner, Health and Happiness and will be sold in France, the Netherlands and the U.K.
Last month, the company saw a 106 per cent leap in monthly MediCabilis prescriptions during the month of October. Since January, Bod has filled 4400 prescriptions, which marks a 124 per cent increase on total volumes for last year.
Bod is highly encouraged by this and expects the ongoing sale momentum to grow.
On the market, Bod last traded for 61.5 cents per share on December 10.
