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THC Global Group chairman and deputy chairman exercise options at premium

The company holds all three key cannabis licences being for research, cultivation and manufacturing.

THC Global Group chairman and deputy chairman exercise options at premium
The listed options THCO ceased to trade at yesterday’s market close

THC Global Group Ltd (ASX:THC) chairman Steven Xu and deputy chairman Alan Beasley have both exercised options with a strike price of 40 cents.

Beasley paid $100,000 to exercise 250,000 options and Xu paid $12,000 to exercise 30,000 options.

Notably, with shares in the company last closing at 38.5 cents, the board members are essentially purchasing stock at a higher price than the market.

Farm to pharma model

THC Global operates under a farm-to-pharma pharmaceutical model, now holding all three key cannabis licences.

These being a cannabis research licence, a medicinal cannabis licence for cultivation, and two manufacture licences.

THC Global’s main facility, the Southport Manufacturing Facility is the largest pharmaceutical bio-floral extraction facility in the Southern Hemisphere.

Proactive caught up with the company last month for an update.

Quick facts: THC Global Group Ltd

Price: 0.255 AUD

Market: ASX
Market Cap: $35.9 m

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Full interview: THC Global Group granted GMP Licence for Southport cannabis...

THC Global Group Limited (ASX:THC) chief executive officer Ken Charteris updates Proactive on being granted a licence to manufacture therapeutic goods for the company’s Southport Facility, known as a GMP Licence, by the Australian Therapeutic Goods Administration (TGA). This milestone...

on 29/1/20

2 min read