- ECS Botanics (ECS) has entered a trading halt ahead of a capital raise announcement
- It’s not known how ECS Botanics plans to raise the equity, but the trading halt will be lifted by July 28 at the latest
- Recently, the agribusiness signed a collaboration agreement with a Tasmanian essential oils producer
- Under the agreement, the two companies will try and capitalise on the growing hemp seed oil and cannabinoid markets
- Shares in ECS Botanics last traded for 2.5 cents each, before today’s halt
Agribusiness ECS Botanics has entered a trading halt pending the release of a capital raise announcement.
The trading halt will last until July 28, or until an announcement has been made regarding the capital raise.
No details have been released just yet on how ECS Botanics plans to raise the equity, or how much they’re aiming to raise.
Recently, the company signed a new collaboration agreement with essential oils producer, Essential Oils of Tasmania (EOT).
Under the agreement, the two companies will fast-track development and capitalise on the growing hemp seed oil and cannabinoid markets.
Essential oils and hemp seed oils are expected to increase in demand, as they both have anti-microbial and anti-bacterial properties, and COVID-19 has created a demand for cleaning products.
Before today’s trading halt, shares in ECS Botanics were trading for 2.5 cents each on July 21.