Althea Group Set to raise $4m for growth
- Cannabis-based medicine supplier Althea Group (AGH) receives firm commitments to raise $1.5 million via a share placement
- The money will be raised through the issue of 22.4 million new fully-paid ordinary shares to institutional and sophisticated investors at 6.7 cents each
- Althea also intends to undertake a share purchase plan to raise up to $2.5 million with eligible shareholders able to subscribe for up to $30,000 worth of shares
- The money from both the placement and share purchase plan will be used to fund growth and support the launch of additional products
- Althea is down 18.1 per cent on the market with shares trading at 6.8 cents at 3:11 pm AEDT
