Launches Share Purchase Plan
- THC Global to launch a Share Purchase Plan
- Shareholders may apply for up to $15,000 of new shares under SPP Offer
- Applications open on 9 April for Eligible Shareholders
- Opportunity to purchase discounted shares prior to expected receipt of final licencing
The SPP Offer is priced at $0.50 being a 14.6% discount to the 5 trading day volume-weighted average price of the Company's shares prior to today. Participation in the SPP Offer is limited to shareholders with registered addresses in Australia or New Zealand who were shareholders on the register at 7.00pm on 4 April 2019 (the Record Date).
The Company intends to conduct the SPP Offer on a first-come first-serve basis and reserves the right to close the offer early at its sole discretion.
The indicative timetable for the SPP Offer is below:
Record Date- 4 April 2019
Announcement of The Share Purchase Plan- 5 April 2019
Documents Mailed to Eligible Shareholders- 9 April 2019
Opening Date for Acceptances- 9 April 2019
Closing Date for Acceptances- 26 April 2019
Allotment and Issue of New Shares- 6 May 2019
Quotation of New Shares On ASX- 6 May 2019
Dispatch of Shareholder Statements- 9 May 2019
Indicative timetable and is subject to change. The Company reserves the right to vary the dates above, subject to any regulatory or statutory provisions that may apply.
Chairman, Steven Xu commented: "With this Share Purchase Plan we are offering our loyal shareholders the opportunity to purchase shares at a discount to the current market price, in advance of the expected final licencing required to transition into full-scale medicinal cannabis production".
About THC Global Group Limited
THC Global Group Limited (ASX:THC) (OTCMKTS:HDRPF) (FRA:9TH) operates under a 'Farm to Pharma' pharmaceutical model and is currently delivering high quality medicinal cannabis products to Australian patients through existing access schemes. Having secured both a significant growing capacity over two grow sites, and an industry-leading pharmaceuticals biomanufacturing facility with attached testing and product development laboratory, THC Global is in prime position to service both domestic patients and the export market. THC Global's commercial partners operate across four continents, supporting future international growth.
In addition to its core medicinal cannabis business, THC Global owns two Canadian companies, being Crystal Mountain Products and Vertical Canna Inc. Crystal Mountain Products operates a revenue generating global hydroponics retailer and distributor of equipment, material, and nutrients to cannabis growers and producers. Vertical Canna Inc is an investment vehicle through which THC Global intends to build, through acquisitions and strategic partnerships, a vertically integrated Canadian cannabis producer and retailer. Vertical Canna's existing asset portfolio includes a land-holding in Nova Scotia, Canada to be developed into a large-scale cannabis production facility.
THC Global Group Limited