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HomeFinTechAlthea Group: Set to raise $4m for growth

Althea Group: Set to raise $4m for growth

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Althea Group Set to raise $4m for growth

  • Cannabis-based medicine supplier Althea Group (AGH) receives firm commitments to raise $1.5 million via a share placement
  • The money will be raised through the issue of 22.4 million new fully-paid ordinary shares to institutional and sophisticated investors at 6.7 cents each
  • Althea also intends to undertake a share purchase plan to raise up to $2.5 million with eligible shareholders able to subscribe for up to $30,000 worth of shares
  • The money from both the placement and share purchase plan will be used to fund growth and support the launch of additional products
  • Althea is down 18.1 per cent on the market with shares trading at 6.8 cents at 3:11 pm AEDT

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