NZ's Cannasouth shares rise on investing in production facility

Cannasouth

30/09/2019 22:52

** Shares of Cannasouth Ltd  CBD.NZ  rise as much as 3.3% to
NZ$0.630, their highest since Sept. 19
    ** Medical cannabis firm says it will acquire a 60% stake in
Midwest Pharmaceutics NZ Ltd for NZ$1.32 mln ($826,000)
 urn:newsml:reuters.com:*:nNZSytka
    ** Midwest operates a facility that specialises in
manufacturing, repacking and wholesale supply of pharmaceutical
raw materials which Cannasouth will now utilise
    ** Stock posts its biggest intraday pct gain since Sept. 12
    ** CBD shares up 52.5% since its listing in June, as of last
close

 ($1 = 1.5980 New Zealand dollars)

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Lisa
Shumaker)
 ((Anushka.Trivedi@thomsonreuters.com; +918067491413;))