Elixinol Global sells 12.8 million shares of 3.90 USD to fund CBD Growth – New Cannabis Ventures

Yesterday, Elixinol Global (ASX: EXL) (OTC: ELLXF) asked that the trade stopped in connection with a capital increase, expecting the stop to last about June 5 . Tonight, the company announced that it has raised A $ 50 million, and sells A $ 3.90 shares in a deal led by Bell Potter Securities.

I recognize the strong support for new and existing institutional investors to accelerate the company's expansion in the US and globally. We are witnessing an unprecedented positive shift in the consumption appetite for CBD and hamper products.

Paul Benhaim, CEO of Elixinol Global

Elixinol plans to double its current production capacity in the United States. Furthermore, by securing additional raw materials, the company will be well positioned to accelerate the growth of Elixinol-branded CBD products and strategic opportunities.

This is the third and largest capital increase for the company that completed a stock exchange listing at the end of 2017 A $ 1.00, and increases a $ 20 million. In September, it raised $ 40 million and sold shares at A $ 1.85. The shares traded as high as A $ 5.93 in April.

Published by Alan Brochstein, CFA

Based in Houston, utilizes Alan's experience as a founder of online community 420 Investor, the first and still largest due diligence platform, focused on the listed shares of the cannabis industry. With its extensive network in the cannabis community, Alan continues to find new ways to connect industry and simplify sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Prior to shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst who followed over two decades in research and portfolio management. A productive writer, with over 650 articles published since 2007 on Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker of industrial conferences and a frequent source of media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email