By Asterion Cannabis Inc on Thursday, 02 January 2020
Category: Vertically Integrated

Asterion Cannabis set to raise C$10M to fund construction of pioneering Toowoomba facility

The facility will feature around 40 hectares of purpose-built greenhouses to produce high-quality, organic medicinal cannabis

The company is raising C$10 million for the facility

Asterion Cannabis Inc said Thursday it is raising C$10 million to fund the construction of its state-of-the-art cultivation compound in Australia. 

The Toowoomba facility in southeast Queensland will feature around 40 hectares of purpose-built greenhouses to produce high-quality, organic medicinal cannabis. 

The scheme was awarded Major Project Status by the Australian federal government last year.

READ: Asterion Cannabis' Australian subsidiary to kickstart Toowoomba Medicinal Cannabis project

Under the terms of the financing, Vancouver-based Asterion is offering nearly 6.7 million units at C$1.50 per unit for gross proceeds of up to C$10 million.

Each unit consists of one share and one-half of one warrant, with each whole warrant exercisable at C$2 for a 24-month period.

Asterion Cannabis is currently a privately owned medicinal-cannabis producer focused on producing the highest quality of genetically uniform cannabis strains, at an affordable price.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Asterion Cannabis Inc named herein, including the promotion by the Company of Asterion Cannabis Inc in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Related Posts