- Emyria (EMD) has successfully completed a $5 million share placement to Andrew “Twiggy” Forrest’s Tattarang
- Tattarang is one of Australia’s largest private investment groups, with interests in agri-food, energy, resources, property and lifestyle
- According to the placement, a total of 20 million shares will be issued to Tattarang — or its nominee — at 25 cents each
- Upon completion of the placement, Tattarang will hold a 7.3 per cent stake in Emyria
- Emyria closed on Tuesday up 8.97 per cent to 42.5 cents per share
Emyria (EMD) has successfully completed a $5 million share placement to Andrew “Twiggy” Forrest’s Tattarang.
Tattarang, which holds a 36 per cent stake in Fortescue Metals Group (FMG) where Mr Forrest is Chairman, is one of Australia’s largest private investment groups, with interests in agri-food, energy, resources, property and lifestyle.
The group consists of six business divisions — Fiveight, Harvest Road, SFM Marine, Squadron Energy, Wyloo Metals and Z1Z — and has been behind several notable acquisitions over the years, including the purchase of clothing brand R.M. Williams from L Catterton in October 2020.
According to the placement, a total of 20 million shares will be issued to Tattarang — or its nominee — at 25 cents each. The investment firm will also be issued 10 million options, exercisable at a price of 40 cents and expiring two years from the date of issue.
Upon completion of the placement, Tattarang will hold a 7.3 per cent stake in Emyria.
“We believe evidence based, and properly registered, medicinal cannabis and novel psychedelic treatments have massive growth potential across global healthcare jurisdictions,” Tattarang’s chief investment officer John Hartman said.
“Emyria’s data driven approach positions it strongly to lead the accelerated development and registration of new treatment options that can potentially benefit millions of patients.”
Dr Michael Winlo, Managing Director of Emyria, noted that millions of people around the world currently live with conditions for which current therapies are either ineffective, cause negative side effects, or are yet to be developed.
“Emyria is the only ASX-listed company that controls patient-treating clinics and a clinical-trial-grade data system and uses these assets to accelerate the development and registration of new drugs, digital technologies and care models,” Dr Winlo said.
“Our current leading programs cover synthetic cannabinoid-based pharmaceuticals, MDMA-assisted therapy and novel psychedelic drug development. We are very pleased to welcome Tattarang to be part of this next phase of growth.”
Emyria closed on Tuesday up 8.97 per cent to 42.5 cents per share.