MedReleaf Australia
MedReleaf Australia has closed a non-brokered private placement financing of common shares at a price of A$21 per share for gross proceeds of A$3.9 million, an oversubscription of A$900k. The funds will be used to expand sales and marketing, inventory, education, regulatory compliance, and R&D.
MedReleaf said it received global interest in the offering, with participants including a Canadian-based institutional investor, founders of two of Canada’s largest cannabis companies, and current shareholders.
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