Elixinol Global sells 12.8 million shares at 3.90 Australian dollars to finance the growth of CBD – New Cannabis Ventures

Yesterday, Elixinol Global (ASX: EXL) (OTC: ELLXF) called for a halt to the negotiations as part of a capital increase, in the hope that this judgment could last until June 5th. Tonight, the company announced it had raised $ 50 million by selling $ 3.90 worth of shares in a deal led by Bell Potter Securities.

I recognize the strong support of new and existing institutional investors for accelerating the development of the company in the United States and around the world. We are witnessing an unprecedented positive change in consumer appetite for CBD and hemp products.

Paul Benhaim, CEO of Elixinol Global

Elixinol plans to double its current production capacity in the United States. In addition, by securing additional raw materials, the Company will be well positioned to accelerate the growth of Elixinol brand CBD products and strategic opportunities.

This is the third and largest capital increase of the company, which has finalized its IPO at the end of 2017 at A $ 1.00 and raising A $ 20 million. In September, he raised 40 million Australian dollars and sold shares at 1.85 Australian dollar. Shares reached A $ 5.93 in April.

Posted by Alan Brochstein, CFA

Based in Houston, Alan is relying on his experience as a founder of online communities 420 Investor, the first and still largest platform of due diligence focused on publicly traded shares in the cannabis industry . Through his extensive network in the cannabis community, Alan continues to find new ways to connect the sector and facilitate sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before turning to the cannabis industry in early 2013, Alan, who started his career on Wall Street in 1986, worked as an independent research analyst after more than two decades in research and portfolio management . A prolific writer, with more than 650 articles published since 2007 on Seeking Alpha, where he has 70,000 subscribers, Alan frequently speaks at industry conferences and is a frequent source of information for the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | E-mail