Australia's ECS Botanics jumps most in about 3 years on securing $15.3 mln deal

ECS Botanics Holdings

03/10/2023 24:56

** Shares of ECS Botanics Holdings  ECS.AX  jump as much as
40.9% to A$0.031, posting their biggest intraday pct gain since
Dec 8, 2020
    ** The medicinal cannabis co says it has secured a binding
offtake agreement to supply medicinal cannabis dried flower over
the next five years to Perth-based medicinal cannabis co,
MediCann Health
    ** Says under deal, ECS to supply A$24 mln ($15.26 mln) of
pharmaceutical-grade cannabis dried flower to MediCann beginning
Jan 2024
    ** Shares hit their highest level since Feb 10, 2022
    ** About 15.6 mln shares exchange hands vs the 30-day
average of 1.4 mln shares 
    ** ECS stock up 10% YTD as of last close 

    


($1 = 1.5726 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))