Sign up Australia
Proactive Investors - Run By Investors For Investors

The Hydroponics Company advances medical cannabis strategy as shares released from escrow

The company has a clear strategy for bringing medicinal cannabis to the Australian market.
The Hydroponics Company advances medical cannabis strategy as shares released from escrow
The company has $4.7 million in cash

The Hydroponics Company Ltd (ASX:THC) has been a medical cannabis success story since listing on the ASX in May this year, following an IPO at an entry price of $0.20.

Adding further value to the IPO, for each two shares subscribed and issued, there was one $0.40 option given, which is now heavily in-the-money.

The Hydroponics Company last traded at $0.85, and has been as high as $1.15.

The company has now allocated additional shares which have exited escrow, with circa 104 million on issue.

Total shareholders in the company has now swelled towards 2000, a more than two-fold increase on the IPO entrants.

Key achievements since listing

The company's wholly-owned subsidiary, Canndeo Limited, has delivered key milestones since listing, such as:

- International Partner Alliance agreement;
- Medicinal Cannabis Research Licence Granted July 2017;
- Clinical Trial partner mandated;
- Medicinal Cannabis Prescription and Dispensing Portal;
- Medicinal Cannabis Licence granted October 2017;
- Manufacturing Licence application lodged; and
- Significant investment into Australian facilities.

View full THC profile View Profile

The Hydroponics Company Timeline

Related Articles

Cellmid's Maria Halasz with investors at Proactive's CEO Sessions
October 06 2017
Maria Halasz discussed rapidly growing hair care sales at Proactive's CEO Sessions.
Woman stroking face
October 03 2017
Its SkinBiotix cream was assessed for cellular toxicity
Zelda's Stewart Washer at Proactive's CEO Sessions
November 17 2017
Stewart Washer at Proactive's CEO Sessions this week.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use