Cannasouth is a New Zealand pharmaceutical company that specialises in the development of medicinal cannabis products. Cannasouth shares (CBD) can be bought and sold on the New Zealand Stock Exchange (NZX). Keep reading to find out how.
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Founded in 2018, Cannasouth is a Waikato-based pharmaceutical company. Following the completion of an IPO that raised $10 million, Cannasouth Limited was listed on the NZX in June 2019.
Cannasouth Limited is also the parent company of Cannasouth Bioscience Limited, a subsidiary focused on researching and developing medicinal cannabis products.
The company’s aim is to develop cannabinoid therapeutics to help improve outcomes and quality of life for patients with a wide range of health issues. Its products will be manufactured in the manufacturing and packing facility of Midwest Pharmaceutics, a company in which Cannasouth acquired a 60% share in October 2019.
In its 2020 half-year report, released in August 2020, Cannasouth Limited reported an operating loss for the six months to 30 June 2020 of $1,451,650. Cash on hand at this date was $10.18 million.
The company also completed a share purchase plan in May 2020 that raised over $6 million.
|Name||Cannasouth Limited||Industry||Biopharmaceutical & Research|
|Type||Ordinary shares||Date listed on NZX||19 Jun 2019|
|End of financial year||December||Chief executive officer||Mark Lucas|
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