BPH Energy Ltd (“BPH” or “Company” - Market Update-Medical Cannabis Sector
The company is pleased to provide the following market update:
1. Medical Cannabis Investment
The Company intends to pursue a complementary strategy of making investments in the medical cannabis sector. At this stage no specific investment has been considered.
The medical cannabis sector is showing significant growth with current developments boosting the sectors viability including the move to legalise cannabis in Canada last week and the announcement by the British Government to legalise medical cannabis from November 2018. This follows the announcement by the Australian Federal Government to legalise the export of medical cannabis from Australia in January this year. BPH plans to raise funds in its planned rights issue to pursue this objective.
Shareholders should note that any investment by the Company in the medical cannabis sector will be reviewed by ASX and the Company may be required to re- comply with chapters 1 and 2 of the Listing Rules and there may be necessary escrow implications for the shares to be issued under the rights issue.
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BPH Price at posting:
0.3¢ Sentiment: None Disclosure: Held
- Market Update-Medical Cannabis Sector
