THC Global has raised $6.6 million in capital, issuing 22 million new shares at 30 cents a share to institutional and other investors.
The company went into a trading halt on the ASX last week (Tuesday, June 16) as it entered a capital raising to fund an upgrade of its Southport, Queensland manufacturing facility and commercial trials of cannabinoid pharmaceuticals.
CEO Ken Charteris said THC now has a stronger share book with better institutional representation and a balance sheet that positions it for growth.
The company is also offering eligible shareholders in Australia and New Zealand the opportunity to apply for up to $30,000 of new shares at the same price.