Emerald Clinics Completes Capital Raising and Opens Two Medicinal Cannabis Clinics
- Emerald has successfully completed a A$2.5m capital raising supported by leading cannabis companies Canopy Growth Corporation & Cann Group Limited, and US-based cannabis investor CB1 Capital
- Emerald medicinal cannabis treatment clinics opened in Sydney & Perth
- Emerald continues building a network of clinics across Australia staffed and managed by trained cannabinoid specialists and general practitioners
Monday, 18 February 2019 – Leading independent medicinal cannabis clinic group, Emerald Clinics (“Emerald” or the “Company”), is pleased to announce that it has successfully completed a A$2.5 million capital raising, supported by the global leader in cannabis, Canopy Growth Corporation (TSX:WEED), as well as Australia’s leading medicinal cannabis producer, Cann Group Limited (ASX:CAN). The capital raising was also supported by leading US-based specialist cannabis investor, CB1 Capital.
The capital raising was undertaken by means of a redeemable convertible note and follows Emerald’s successful A$3 million seed raising, undertaken in May 2018, which was supported by Australian fund managers and wholesale investors. All funds raised via both the seed raising and convertible note will be used to support the ongoing national roll-out program of Emerald’s clinics.
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