Wellnex Life Launches SPP to progress strategic goals
- Wellnex Life (WNX) launches a share purchase plan (SPP) for eligible shareholders at an issue price of 7.5 cents, a 21.88 per cent discount of the closing price on September 12
- The company intends to use its funds to drive progress of the joint venture with OneLife Botanicals to become one of the first companies to offer an over-the-counter medical cannabis product in the Australian market
- Further, funds will also be used to finance the inventory required for launching new products including Performance Inspired and continuing to progress further growth avenues
- The SPP will tentatively close on October 5
- Shares in the company have ended the day down 8.33 per cent to close at 8.8 cents
