THC Global Group Ltd ( ASX:THC ) yesterday opened its share purchase plan (SPP) offering shareholders to apply for up to $15,000 worth of additional shares priced at 50 cents each.
In a letter to shareholders, THC’s chairman Steven Xu said: “The funds raised from the Share Purchase Plan will be applied to progress the company’s Australian medicinal cannabis activities as it transitions into full-scale production as final licences and permits are received in the near term, as well as general working capital.”
The company also released its April 2019 briefing note, which it distributed to shareholders yesterday.
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The briefing note highlighted the near term outlook for the company which included the receipt of final Australian cannabis licenses and permits