Total
0
Shares
ECS Botanics (ASX:ECS) - Founder & Managing Director, Alex Keach
Founder & Managing Director, Alex Keach
Source: ECS Botanics
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Australian agribusiness ECS Botanics (ECS) has placed its shares in a trading halt ahead of an upcoming capital raise
  • The trading halt is expected to be lifted on or before Monday March 15, when a formal disclosure regarding the raise is made to market
  • ECS has made no explicit indication as to how much it is looking to raise or what it has planned for the funds at this stage
  • Most recently, the company has entered a new supply agreement with an undisclosed Australian cannabis company through its subsidiary, Murray Meds
  • Prior to the trading halt, ECS Botanics shares changed hands at 6 cents apiece

Australian agribusiness ECS Botanics (ECS) has placed its shares in a trading halt ahead of an upcoming capital raise.

The trading halt is set to remain in place until a formal announcement has been made regarding the raise, which is expected no later than Monday, March 15.

At this stage, there has been no explicit mention as to how much ECS is looking to raise or how it plans to spend the funds. However, it has some intriguing prospects in the pipeline.

In most recent news, the company entered a three-year cannabis supply through its subsidiary, Murray Meds, with an undisclosed Australian cannabis company.

It follows Murray Meds’ recent supply agreement with London-based pharmaceuticals distribution company The Armour Group for the sale and export of medicinal cannabis oils in Europe.

As per its most recently half-yearly report, the company has approximately $4.4 million in cash and equivalents.

Prior to the trading halt, ECS Botanics shares changed hands at 6 cents apiece.

ECS by the numbers
More From The Market Herald

" The Market Herald launches bursary to support and grow new voices in business and finance journalism

The Market Herald is launching a Journalism Bursary to support early-career business and finance journalists.

" Octanex (ASX:OXX) looks to raise fresh capital

Exploration company Octanex (OXX) has placed its shares in a trading halt ahead of an approaching capital raise.
The Market Herald Video

" Range International (ASX:RAN) gears up for capital raise following quarterly report

Plastic pallet manufacturer Range International (RAN) has placed its shares in a trading halt ahead of an upcoming capital raise.
Suda Pharmaceuticals (ASX:SUD) - CEO and Managing Director, Dr Michael Baker

" Suda Pharmaceuticals (ASX:SUD) begins planning capital raise

Suda Pharmaceuticals (SUD) has placed its shares in a trading halt as it begins planning a capital raise.