Canopy Growth Corp (WEED)

[OnlyGoLong]

From the Auscann board

A Possible larger stake by Canopy Growth in our company............AusCann Group Holdings Ltd (ASX: AC8)

This medicinal cannabis company requested a trading halt this morning pending the release of an announcement regarding a capital raising. AusCann’s shares are expected to remain in the trading halt until Thursday. While no details have been provided yet, the AFR has reported that AusCann aims to raise $30 million to support clinical studies and the expansion of its manufacturing facilities. Canadian cannabis giant Canopy Growth Corp, the company’s strategic partner and largest shareholder, is expected to pick up a large portion of shares at $1.10 per share.