ECS Botanics completed a A$1.95 million placement on Thursday to accelerate international growth plans and support its business strategy, two days after the firm announced a trading halt to finalise the raise.
In an announcement to the ASX, the company said it secured binding commitments for around 300 million shares at $0.0065 each – an 18.8% discount to its last close.
ECS said the placement was “well supported” by investors, “reflecting growing market confidence in ECS’ strategy and momentum across B2C and international business”.
Funds will be directed towards new product registrations, strategic inventory purchases and the expansion of its international distribution footprint, particularly in Europe.
The raise followed what ECS previously described as a “transformative” FY25, when record cultivation and fast-growing B2C sales reshaped the firm’s revenue mix.
Managing director Nan-Maree Schoerie said the raise came at a pivotal moment for the company as it scaled its portfolio and global sales channels.
“The strong demand for this raise reflected confidence in the business trajectory and positions ECS to accelerate growth across key markets,” she said.
“We are pleased to welcome new investors and appreciate the ongoing support of existing shareholders as we delivered on our vision for ECS as a leading developer of globally relevant medicinal cannabis brands.”