- Medicinal cannabis company Bod Australia (BDA) has received firm commitments to undertake an $8 million placement
- The medicinal cannabis company entered a trading halt only yesterday but did reveal how much it would be raising or what the funds would go towards
- Roughly 14.5 million new fully-paid ordinary shares will be issued to institutional and sophisticated investors at 55 cents each
- Bod will use the money to launch new products, progress revenue-generating activities, and promote growth in Australia
- The funds raised will provide us with considerable financial flexibility and enable us to accelerate the launch of new products
- Bod has ended the day 2.44 percent in the red with shares trading at 60 cents
