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Algae.Tec to boost cash for medical cannabis cultivation plans

The halt will remain in place until Wednesday 17th January 2018.

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The company's shares are in pre-open

Algae.Tec (ASX:AEB) is preparing to reveal details of a capital raising, and the ASX has granted the company a trading halt this morning.

Algae.Tec recently submitted an application to the Office of Drug Control for a license to Cultivate and Produce medicinal cannabis in Australia.

Besides medicinal cannabis, the company also has interests in algae-based nutraceuticals and the animal feed and aquaculture sectors.

The halt will remain in place until the opening of trade on Wednesday 17th January 2018, or earlier if an announcement is made to the market.

Quick facts: Algae Tec Ltd

Price: 0.009 AUD

ASX:AEB
Market: ASX
Market Cap: $8.77 m
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