Launches Share Purchase Plan
Sydney, April 8, 2019 AEST (ABN Newswire) - THC Global Group Limited (THC Global or the Company) (
ASX:THC) (HDRPF:OTCMKTS) advises that it will offer Shareholders the opportunity to apply for up to $15,000 of new Shares under a Share Purchase Plan offer, which will open on Tuesday, 9 April 2019 (the SPP Offer).
Key Points:
- 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, now holding all three key cannabis licences being a Cannabis Research Licence, a Medicinal Cannabis Licence (Cultivation), and a Manufacture Licence through its domestic medicinal cannabis subsidiaries THC Pharma and Canndeo. THC Global has secured a significant cannabis growing capacity over multiple cultivation projects and owns a pharmaceuticals bio-manufacturing facility with attached testing and product development laboratory. THC Global is in prime position to commence medicinal cannabis production to service both domestic patients and the global export market. THC Global is active globally with operations in Australia, New Zealand, and Canada and partnerships across Europe, Asia, and the Middle East. In addition to its core Australian medicinal cannabis assets, THC Global has a significant Canadian presence – both in cannabis and in hydroponics equipment. THC Global's Canadian cannabis operation, Vertical Canna, holds property in Nova Scotia, Canada being developed into a large scale cannabis production site. THC Global's hydroponics equipment division, Crystal Mountain, is a revenue generating manufacturer, wholesaler, and retailer of hydroponic equipment and supplies.
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