Taylor Collison and Canaccord Genuity’s equities desks were in the market with a pair of equity raisings on Tuesday morning.
Taylor Collison was raising up to $4.1 million for cannabis drug developer Bod Australia, with the deal structured as a placement and rights issue.The broker was offering new shares at 8¢ each which was a 17.8 per cent discount to the last close, according to terms sent to potential buyers.
Funds raised would be used to acquire Aqua Phase, which is a process technology invented and developed by two UK-based scientists to make lipophilic compounds from cannabis more soluble. The acquisition was worth about $5 million, the term sheet said.Meanwhile, Canaccord had a $3 million placement for Alicanto Minerals Ltd, a base metals explorer with assets in Sweden.
The broker was offering 60 million shares at 5¢ each, with proceeds to be used for drilling at the company’s Sala zinc-silver-lead project.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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