Australia's Creso Pharma jumps on plans of equity raising, revenue boost

Melodiol Global Health

01/11/2022 24:46

** Shares of Australia's Creso Pharma  CPH.AX  rise as much
as 3.23% to A$0.032, set to gain most since Oct 14; if gains
hold
    ** The cannabis producer secures commitments to raise up to
A$7.6 million ($4.87 million) through two Separate Issues of
Convertible Notes  urn:newsml:reuters.com:*:nASX4DcrFb
    ** Says funding includes commitments from new and existing
professional investors to raise A$2.6 mln
    ** Says funds to be deployed to support marketing and sales
of co's existing products in Canada, Europe, U.S., among others
    ** Co also posted a 77% jump in their quarterly revenue to
A$2.1 mln
    ** Stock has fallen 62.2% this year as of last close
($1 = 1.5613 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))