Replies to post #816 on Elixinol Global Ltd (ELLXF)

[aries4747]

Link and text

https://www.afr.com/business/health/cannabis-stock-taps-bell-potter-for-50m-raising-20190604-p51u8i

ASX-listed Elixinol Global is seeking a $50 million cash injection and has hired Bell Potter Securities to raise the funds from investors.

The company's shares went into a trading halt on Tuesday morning as its broker launched the deal.

Bell Potter was offering clients 12.8 million new Elixinol Global shares at $3.90 each.

The deal was priced at an 8,7 per cent discount to the last close and a 17.6 per cent discount to the five day VWAP.

Funds raised were pegged for US expansion ($32 million); Europe, South America and Asia expansion ($8.2 million); and general working capital ($7.4 million), according to terms sent to potential investors.

Bell Potter was calling for bids by midday Wednesday.