- Medicinal cannabis and hydroponics company THC Global (THC) has entered a trading halt ahead of an upcoming capital raise announcement
- THC anticipates the trading halt will be lifted on or before December 17 pending a formal capital raise disclosure
- The company recently touted a wide range of strategic and production updates, including a potential rebrand and an expansion on its production facilities in Queensland
- Recent fundraising activities include a $1.5 million share purchase plan and a $6.6 million placement
- Shares in THC Global last traded at 27 cents prior to the trading halt
Medicinal cannabis and hydroponics company THC Global (THC) has entered a trading halt ahead of an upcoming capital raise announcement.
THC anticipates the trading halt will be lifted on or before December 17 pending a formal capital raise disclosure.
The company recently touted a wide range of strategic and production updates as part of a plan to become a leading global supplier of medicinal cannabis.
These proposals include a potential rebrand to Epsilon Healthcare, which is expected to be voted on by shareholders in January 2021.
An expansion of its production facilities in Queensland is also in the pipeline, with the aim to become a production and distribution hub for Australian, European and Southeast Asian markets.
Recent fundraising activities include a $1.5 million share purchase plan and a $6.6 million placement, the proceeds of which are expected to fund the company’s proposed expansion plans.
Securities hit a 2020 trading high of 41.8 cents in June this year.
Shares in THC Global last traded at 27 cents prior to the trading halt.