Argent BioPharma
Argent Biopharma (beforehand MGC Prescribed drugs) has accomplished a US$4.5 million capital increase to help its drug growth efforts, simply weeks after delisting from the London Inventory Change.
The corporate, which is now listed on the Australian Securities Change (ASX:RGT) and OTCQB (RGTLF), introduced the profitable placement of 5,625,000 models priced at US$0.80 every, equal to roughly A$1.28.
Every unit within the placement consists of two totally paid atypical shares and one warrant, exercisable at US$0.55 (~A$0.88) with a three-year expiry.
The location is split into two tranches: the primary tranche consists of 5,000,000 shares and a pair of,500,000 warrants, issued instantly underneath current placement capability, whereas the second tranche, comprising 6,250,000 shares and three,125,000 warrants, is topic to shareholder approval at an upcoming assembly.
The location value displays a major premium, with a 370% improve over the 15-day volume-weighted common value (VWAP) and a 377% improve over Argent BioPharma’s final closing value of A$0.17 earlier than a buying and selling halt on January 3.
Proceeds from the capital increase will likely be used to advance Argent BioPharma’s drug pipeline, notably medical research for CannEpil®, a remedy concentrating on central nervous system problems.
The funds may also help the corporate’s ongoing strategic overview of operations, aimed toward making certain long-term sustainability following its delisting from the London Inventory Change and preparations for a US nationwide itemizing.
Argent Biopharma was the primary firm in historical past to launch an IPO on the LSE, however introduced in December that ‘following an in depth overview’ of the itemizing necessities and related prices of transferring all of its atypical shares from the Australian Inventory Change (ASX), the corporate had determined to cancel its admission on the LSE.
In late August, the corporate, unveiled plans to formally delist from the Australian Securities Change citing a major lack of liquidity within the buying and selling of its shares.
Moreover, the corporate mentioned it has confronted persistent fundraising challenges in Australia, with latest capital-raising efforts primarily supported by buyers from the UK and the US, highlighting restricted native investor curiosity.
In keeping with the corporate, its delisting determination is pushed by the corporate’s want to ‘streamline and simplify processes’ and improve administrative efficiencies.
Notably, the corporate should discover alternatives to increase its accessibility to buyers, together with a possible twin itemizing on a United States-based trade.
Tilray
This week, US hashish large Tilray Manufacturers introduced that it was awarded a young by Luxembourg’s Ministry of Well being to provide the nation with medical hashish flower.
The contract was secured by Tilray Deutschland GmbH, the corporate’s German subsidiary, additional solidifying Tilray’s footprint within the European medical hashish market.
Denise Faltischek, Chief Technique Officer and Head of Worldwide at Tilray Manufacturers, known as it a ‘testomony to the unwavering dedication of our workforce in offering sufferers around the globe with high-quality medical hashish merchandise.’
It comes simply days after new laws got here into pressure banning the prescription of high-THC hashish flower to sufferers.
As of January 1, 2025, sufferers will solely have entry to CBD-rich flower, ‘balanced’ THC/CBD flower, and hashish oil. Prescriptions for hashish oil have steadily elevated, from 18 bottles in 2022 to 2,850 in 2024, underscoring this system’s growth in a rustic of roughly 675,000 folks.
A legislation permitting private possession of non-medical hashish and the cultivation of as much as 4 crops per family for private consumption permitted in June 2023 is just not impacted by the adjustments.
Tilray’s involvement in Luxembourg is bolstered by its latest achievements in Germany. In July 2024, the corporate acquired Germany’s first hashish cultivation license underneath the German Medical Hashish Act, handed earlier that 12 months.
The license permits Tilray’s Aphria RX GmbH facility to domesticate and manufacture medical hashish in Germany. Aphria RX’s first commercial-grown hashish flowers had been launched in November 2024.
Stenocare
Danish medical hashish producer Stenocare this week launched a rights difficulty aiming to lift roughly DKK 20.2 million (USD 2.9 million).
The subscription interval started on January 7, 2025, and can run by January 20, 2025. The proceeds are anticipated to help Stenocare’s ongoing operations and strategic investments in its pharmaceutical-grade medical hashish merchandise.
The rights difficulty presents current shareholders two subscription rights for each share held as of January 6, 2025. Every subscription proper entitles holders to buy one new share at a value of DKK 0.50.
Stenocare has secured DKK 1.5 million in binding pre-commitments and ensures from administration and shareholders, making certain at the very least partial success of the providing. Full subscription would carry the overall raised to roughly DKK 20.2 million.
It comes simply days after Stenocare A/S has introduced the provision of its revolutionary medical hashish oil product, Astrum 10-10, for Norwegian sufferers.
The primary cargo of the product arrived in Norway on the finish of December 2024, making it prepared for prescription-based use.
