Cannabis startup MediCann Health is looking to raise up to A$3m via crowdfunding platform Birchal next week.
The firm’s portfolio includes medicinal cannabis brand Maali, hemp brands Hemp Brothers and EndoScent, and MediCann Clinics, offering telehealth services alongside in-person consultations.
Founder and CEO Matt Shales said: “Raising funds in this way provides opportunities for family and friends of our team to be a part of the journey, along with those like me who are interested in the future of cannabis.”
The funds will be used to expand the company’s Maali product range, progress its research into medicinal cannabis and concussion and grow the sales and marketing team.
Creso Pharma subsidiary Sierra Sage Herbs (SSH) has secured a US$214k purchase order from US retail chain Walmart for its new skincare range.
The ‘Plants for your Face and Body’ collection will be available for sale under SSH’s Green Goo brand in around 400 Walmart stores across the US.
The collection includes a range of plant-based solutions focused on anti-ageing, acne and eczema.
Creso CEO and managing director William Lay said: “To stock our product range at Walmart, one of the US’s most widely recognised retailers, is a major achievement for SSH and highlights the potential demand for the company’s products.
“We anticipate delivery for the maiden order will occur during September, with products to be on shelves in the weeks following. SSH [is] working with other retail groups and potential stockists to expand distribution and drive sales growth.”
ASX-listed Botanix Pharmaceuticals has received firm commitments to raise up to A$7.5m from new and existing institutional and sophisticated investors.
Company directors have subscribed for $500k as part of the raising, which is subject to shareholder approval.
Funds will be used to progress the firm’s Sofpironium Bromide gel development program, including costs associated with filing for US Food and Drug Administration approval, and for general working capital purposes.
Botanix said the filing remains on track for submission in Q3 CY22.
Incannex has been added to the S&P/ASX 300 Index following September’s quarterly reviews by S&P Dow Jones Indices. The change will come into effect prior to the market opening on September 19, 2022.
CEO and managing director Joel Latham said: “We’re delighted to be… listed among the largest and most-recognisable companies in Australia.”
“Being listed in the index is a precursory investment condition for many domestic and international investment institutions so we are excited for the possibilities this recognition may bring.”