Yesterday, Elixinol Global (ASX: EXL) (OTC: ELLXF) requested that trading be halted in connection with a capital raise, with the expectation that the halt might last though June 5th. This evening, the company announced that it has raised A$50 million, selling shares at A$3.90 in a deal led by Bell Potter Securities.
I acknowledge the strong support of new and existing institutional investors to accelerate the Company’s expansion in the US and globally. We are witnessing an unprecedented positive shift in consumer appetite for CBD and hemp derived products.
Paul Benhaim, CEO of Elixinol Global
Elixinol plans to double its current production capacity in the US. Further, by securing additional raw materials, the Company will be well positioned to accelerate the growth of Elixinol branded CBD products and strategic opportunities.
This is the third and largest capital raise for the company, which completed an IPO in late 2017 at A$1.00, raising A$20 million. In September, it raised A$40 million, selling shares at A$1.85. The stock traded as high as A$5.93 in April.