- Little Green Pharma (LGP) has entered a trading halt ahead of a proposed acquisition and capital raise announcement
- The cannabis company hasn’t announced any details about the raise or purchase, with full details expected to be announced by Wednesday
- The last time LGP raised capital was in March this year, with a share placement plan generating an extra $5 million in cash for the company to spend
- Meanwhile, before Monday’s trading halt, LGP announced it had signed a distribution partner to sell its products in Poland
- Company shares last traded at 65 cents per share
Little Green Pharma (LGP) has entered a trading halt ahead of a proposed acquisition and capital raise announcement.
The cannabis stock halted its shares from trading before market opened on Monday, June 21, with the halt expected to end on Wednesday, June 23.
LGP shareholders will have to wait until then to find out the full details of the acquisition, as well as how much the company is planning to raise.
This is the second time in recent months Little Green Pharma has carried out a fundraise.
The business raised capital in March this year, with a share placement plan generating an extra $5 million in cash for the company to spend.
Meanwhile, before Monday’s trading halt, LGP had been busy announcing an exclusive Polish distribution partner.
The company revealed last week it was teaming up with Medezin Sp., a subsidiary of Pelion SA, to sell its medicinal cannabis products in the region.
Under the deal, Medezin will aim to capture 20 per cent of the Polish medicinal cannabis oil market and at least 10 per cent of the Polish high-THC medicinal cannabis flower market using LGP’s products.
Shares in Little Green Pharma were trading at 65 cents each before Monday’s trading halt, on Friday, June 18.