Australia's Creso Pharma hits record low on first day of trading after co's takeover terminated

Pharmacielo

02/12/2019 03:31

** Shares of medical cannabis developer Creso Pharma
 CPH.AX  fall as much as 31.7% to A$0.14, hitting an all-time
low
    ** Co's shares, which had been on trading halt since Nov. 1,
resume trading after its proposed acquisition by PharmaCielo Ltd
 PCLO.V  was mutually terminated on Nov. 12  urn:newsml:reuters.com:*:nASX49Dwdd
    ** Co has secured convertible debt and share placement
financing; currently exploring strategic partnerships
 urn:newsml:reuters.com:*:nASX6GxRWY
    ** Over 11 mln shares change hands, compared with the 30-day
average volume of ~230,000
    ** Stock down 58% this year, as of last close

 (Reporting by Arundhati Dutta)
 ((Arundhari.dutta@thomsonreuters.com))