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- Little Green Pharma (LGP) has placed its shares in a trading halt ahead of an upcoming capital raise and material commercial announcement
- Further details on these activities are expected on or before February 9, when normal trading is set to resume
- The announcement comes less than a week after the company released its quarterly activities report
- In the update, LGP detailed its expansion activities into European markets and flagged plans for a partnership with the Health Insurance Fund
- Prior to the trading halt, Little Green Pharma shares traded at 93.5 cents each
Little Green Pharma (LGP) has placed its shares in a trading halt ahead of an upcoming capital raise and material commercial announcement.
The trading halt is expected to remain until a formal disclosure is made to the market regarding the raise and commercial announcement on or before Tuesday, February 9.
At this stage, the medicinal cannabis player has not indicated how much it is seeking to raise or what the proceeds will go towards.
The announcement comes less than a week after the company released its quarterly activities report for the December quarter.
Over this period, LGP continued its international market pursuits, completing its fist export to Germany and receiving a primary supplier role for a national French medicinal cannabis trial.
The company also flagged plans to work with the Health Insurance Fund (HIF) to support improved access and affordability of medicinal cannabis through rebates to eligible HIF members.
In terms of finances, cash receipts for the period came in at $1.86 million, taking LGP’s cash position for the quarter to just shy of $4.5 million.
Prior to the trading halt, Little Green Pharma shares traded at 93.5 cents each.
