Australia's ECS Botanics jumps on medicinal cannabis product supply agreements

ECS Botanics Holdings

26/06/2023 03:44

** Shares of hemp-based food maker ECS Botanics Holdings
 ECS.AX  rise as much as 30% to A$0.026, highest level since
March 1
    ** Co secures two binding offtake agreements worth at least
A$11.9 mln  ($7.96 mln) to supply medicinal cannabis dried
flower over the next three years
    ** Agreements with Melbourne-based Entoura Pty Ltd and
Sydney-based Precision Pharmaceuticals Pty Ltd
    ** Says first supply under both agreements will occur in the
next qtr
    ** Over 4 mln shares have changed hands, compared with the
30-day average of about 870,000 shares 
    ** As of last close, shares trading flat YTD
    



($1 = 1.4954 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))