Brief: Cannasouth Says Raised NZ$4.7 Mln Through Issue Of 11.8 Mln New Fully Paid Ordinary Shares, 3.9 Mln Options

Cannasouth

30/09/2021 22:45

Oct 1 (Reuters) - Cannasouth Ltd  CBD.NZ :
    * RAISED NZ$4.7 MILLION THROUGH ISSUE OF 11.8 MILLION NEW
FULLY
PAID ORDINARY SHARES, 3.9 MILLION OPTIONS
    * ACQUISITION OF OUTSTANDING 50% STAKE IN CANNASOUTH
CULTIVATION
LTD WAS CONDITIONAL ON CO RAISING AT LEAST NZ$6 MILLION BY SEPT
30
    * CONDITION IN AGREEMENT WAS NOT SATISFIED AND DEED OF SALE
AND
PURCHASE OF OUTSTANDING INTEREST IN CCL HAS BEEN TERMINATED
    * PROPOSE TO START FURTHER DISCUSSIONS WITH JV PARTNER TO
REVIEW
AVAILABLE OPTIONS FOR PROPOSED ACQUISITION OF OUTSTANDING 50% OF
CCL

Source text for Eikon:  ID: 
Further company coverage:  CBD.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))