News Articles for Underwood Capital

Corporate finance deals July 16 to 20, 2018

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MMJ PhytoTech has invested CAD$0.15m for a 2.5% shareholding in privately-held Embark Health Inc as part of their CAD$1m seed funding round.

Corporate finance deals Apr 9 to 13 2018

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Thred has announced a capital raising by way of a fully-underwritten, non-renounceable pro-rata entitlement offer at an issue price of $0.004 per new share on the basis of one new share for every t

Corporate finance deals Apr 2 to 6 2018

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Westgold Resources Limited is pleased to advise that completion of the sale of the South Kalgoorlie Operations (SKO) to Northern Star Resources Limited as announced on 8 March 2018 occurred on 29 M

Board Moves February 26, 2018

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Jason Conroy has been appointed chief executive of MMJ PhytoTech.

Court dismisses eSense case

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Legal proceedings started by two eSense-Lab directors, including Otsana Capital director Brendan de Kauwe, against the life sciences company in Israel have been dismissed.

eSense spill move

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A group of shareholders in life sciences company eSense-Lab has requisitioned a general meeting to remove three directors, including chief executive Haim Cohen, while also seeking to appoint MMJ Phytotech managing director Andreas Gedeon and Otsana Capital founder Faldi Ismail to the board.

Performance shares deliver windfall

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The directors of medicinal cannabis companies Creso Pharma and AusCann Group Holdings have reaped windfall gains worth $13 million after the vesting of performance rights and performance shares.

Automic seeks efficiencies in the cloud

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Perth-based share registry business Automic Registry Services wants to double its market share this year after making a substantial investment in a new cloud-based platform.

MMJ accepts rival offer for subsidiaries

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MMJ Phytotech has accepted a competing bid for the spin-out of its medical cannabis-focused Canadian subsidiaries onto the TSX Venture Exchange, with the new deal worth $C42 million ($A41 million).

CrowdfundUP jumps to first place on Techboard rank

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Local fintech CrowdfundUP tops this fortnight's Techboard ranking, having closed a $2.1 million capital raising led by Sydney-based Positive Investment Enterprise.

MMJ to list Canadian subsidiaries

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MMJ Phytotech has announced plans to spin-out its medical cannabis-focused Canadian subsidiaries onto the TSX Venture Exchange through the reverse takeover of a resources company.

Dotz Nano to be 8th Israeli ASX listing

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Israel-based materials company Dotz Nano has joined the wave of tech firms from that country seeking to raise capital in Australia via a listing on the ASX.

Cannabis player lifts raising

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Medical cannabis hopeful MGC Pharmaceuticals has upped its capital raising to $5 million after its initial $3.5 million raising closed oversubscribed.

Israeli firms come to ASX

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The developer of a gun safety device has become the fifth Israeli company in the technology or medical cannabis sectors to pursue a listing on the ASX through either an IPO or a reverse takeover of a moribund WA mining company.

Medical marijuana firm raises funds

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Medical marijuana company MMJ Phytotech has tapped investors for a $5 million capital raising to fund its entry into the Australian market.

Gleneagle targets biotech

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Gleneagle Gold will make a second attempt at a reverse takeover with plans to buy a local unlisted medical cannabis company in a deal worth about $8 million.

Phytotech completes merger

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Perth-based medical cannabis company Phytotech Medical has completed its $20.7 million merger with Canada-based firm MMJ Bioscience and raised $4.8 million in an oversubscribed placement to sophisticated investors.

Galicia plans $10m backdoor listing

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A local oil and gas explorer led by Steinepreis Paganin partner Peter Wall has announced plans to acquire a digital technology company in a backdoor listing.

Gold explorer in cannabis move

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Former gold explorer International Goldfields has become the fourth Western Australian company to move into the cannabis industry, with the acquisition of Uruguayan business Winter Garden Biosciences.

Odin to leave resources for hemp

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Oil and gas explorer Odin Energy has struck an agreement to acquire a local cannabis and hemp 'aggregator', making it the third WA-based listed company to explore the cannabis sector in recent months.

Phytotech in $20m Canadian merger

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Medical marijuana company Phytotech Medical has entered into an agreement to wholly acquire Canada-based MMJ Bioscience, in a deal worth about $20.7 million.

Resource Star cans cloud deal

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A planned backdoor listing by Perth technology business Cloud Lands Digital Fortress, which was established by prominent company promoter Ross Smith, has been cancelled.

Connell chairs Northern Manganese board, among this week's moves

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Board changes

Phytotech director quits after online posts

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Phytotech Medical founder Ross Smith has vowed to take legal action against investor chat room HotCopper, following his resignation from the medical marijuana company today.

Tech focus as Norwood Systems, rent.com.au boost backdoor moves

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A surge in the number of backdoor listings was one of the few positives on the stock market in 2014, and two new deals for technology companies show there is more to come.

Phytotech to list after $5.9m raising

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Medical marijuana company Phytotech Medical is set to be the year's first listing in Western Australia, after taking special steps to deal with last-minute legal concerns by the ASX and keen demand from investors.