thanks fuister .. heres the full article Two brokers hired for...

thanks fuister .. heres the full article

Two brokers hired for BOD Australia equity raising


Bod Australia has hired Canaccord Genuity and Taylor Collison to oversee a capital raising, as it seeks to accelerate growth in its medicinal cannabis business.

The cosmetics and natural medicines company launched an institutional placement to raise $5.8 million on Wednesday, according to a term sheet sent to fund managers.

The offer price of 53¢ a share represented an 11.7 per cent discount to the last close and a 12.5 per cent discount to the five-day volume weighted average price.

"The directors of the company will participate in the placement for approximately $450,000 subject to shareholder approval," the term sheet said.

Funds raised will be used for "ongoing clinical trials for the company's proprietary cannabis wafers; to pursue international sales growth, including growing a number of 'daigous' to access customers in mainland China; and to expand the natural supplements product range."

Bod said in January that its cannabis oils and raw materials were to be used in iX Biopharma's WaferiX product, which is a small wafer that dissolves under a person's tongue and releases any active compounds for rapid absorption.

Bod is run by Joanne Patterson while Stephen Thompson, chief adviser to Brett Blundy and BBRC Worldwide, is a director on the George Livery-chaired board.