Capital Raising And Debt To Equity Conversions

Melodiol Global Health Limited (ASX:ME1, FRA:1X8) (‘Melodiol’ or ‘the Company’) is pleased to advise it has received firm commitments from new and existing institutional, professional and sophisticated investors to raise cash and convert current liabilities to equity through the issue of approximately 167,445,189 fully paid ordinary shares (‘Shares’) at an issue price of $0.00821 per Share (the ‘Placement’) totalling $1.4m (before costs).

Highlights:

Melodiol has received firm commitments to issue 167,445,189 Shares at an issue price of $0.00821 per Share totalling ~$1.4m for a cash placement and agreements to convert debt to equity
Payment of third amortisation, totalling $270,000 under SBC Global Convertible Note facility via the issuance of 33,750,000 shares – first tranche of notes to be two thirds repaid
Placement follows strong unaudited net sales for the combined Melodiol group of $4.74m during Q2 FY2023 – 105% gain on Q1 FY2023 and a 202% increase on the previous corresponding period
Placement also follows recently announced LOI to sell Sierra Sage Herbs and Halucenex for a total transaction price of approximately up to A$30m, including A$3m in up front cash

The Company has also agreed to satisfy its obligations under the third amortisation payment to SBC Global under the Convertible Note Facility via the issuance of 33,750,000 shares, following which the facility will be two thirds repaid.

Funds from the Placement will be used towards marketing and sales initiatives, and completion of pending M&A, among other activities.

Subject to shareholder approval, Placement participants will receive two free attaching listed options (ASX: ME1O), exercisable at $0.25 on or before 2 November 2024 (“Placement Options”), for every one Placement Share subscribed for and issued.

The issue price of new Shares represents a 17.9% discount to the last closing price of $0.01 on 3 August 2023, and a 24.9% discount to the 15-day VWAP being $0.011.

Management commentary:

Chief Executive Officer Mr William Lay said: “We are very pleased to have received support for this new funding. I would like to thank existing shareholders for their support, as well as welcome new investors to the register.

“The new funding will allow us to continue delivering strong revenue growth and diligently pursue group profitability. Melodiol remains very focused on its cost base, evident from the recent LOI to sell two early stage divisions for up to A$30m, while seeking additional revenue generating opportunities. We look forward to providing further updates over the coming months.”

SBC Global

The Company has agreed to repay the entire balance owing under the third amortisation payment (including interest) to SBC from the First Purchase Convertible Notes (“First Purchase”) ($270,000) in Shares, based on the terms of the Convertible Securities Agreement.

Based on the items described above, and under the terms of the Convertible Securities Agreements, the Company will issue 33,750,000 Shares to SBC as summarised in the following table, based on a Melodiol issue price of $0.008, being 93% of the lowest 1-day VWAP in the actual 10 trading days preceding a redemption.

Click here for the full ASX Release

This article includes content from Melodial Global Health, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Trulieve Announces January 2025 Event Participation

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced planned event participation in January.

27 ^th Annual Needham Growth Conference, January 17, 2025 : Vice President of Investor Relations Christine Hersey will participate in a presentation and investor meetings.

Information about our events, links to events where available, and slide presentations can be found at: https://investors.trulieve.com/events

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.

Facebook: @Trulieve
Instagram: @Trulieve _
X: @Trulieve

Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com

View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-announces-january-2025-event-participation-302346620.html

SOURCE Trulieve Cannabis Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/09/c9006.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Trulieve Announces January 2025 Event Participation

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced planned event participation in January.

27 ^th Annual Needham Growth Conference, January 17, 2025 : Vice President of Investor Relations Christine Hersey will participate in a presentation and investor meetings.

Information about our events, links to events where available, and slide presentations can be found at: https://investors.trulieve.com/events

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona , Florida , and Pennsylvania . Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.

Facebook: @Trulieve
Instagram: @Trulieve _
X: @Trulieve

Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com

View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-announces-january-2025-event-participation-302346620.html

SOURCE Trulieve Cannabis Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/09/c9006.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

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