Connect with us

Australia

THC Global enhances Australian medicinal cannabis strategy with Tetra Health acquisition, shares higher

THC Global Group Ltd (ASX:THC) has acquired Tetra Health, a leading clinic network in Australia that facilitates access to legal medicinal cannabis medicines to Australian patients.

Tetras network of medical practitioners comprises more than 600 referring physicians, 30 prescribing physicians and a national network of dispensing pharmacies.

This network has in excess of 1,100 active Australian patients and more than 10,000 prospective patients within its current database.

Increased patient access[hhmc]
THC Global CEO Ken Charteris said: “We are very pleased to have acquired Tetra Health. Through this acquisition, we will be able to rapidly increase the number of Australian patients can access cannabis, including our own high-quality low patient cost products.”

The companys shares were as much as 13% higher in early trade to 34 cents and closed at 33 cents.

Tetra has developed a proprietary patient engagement and monitoring solution enabling:

Secure patient onboarding;
Automation ..

THC Global Group Ltd (ASX:THC) has acquired Tetra Health, a leading clinic network in Australia that facilitates access to legal medicinal cannabis medicines to Australian patients.

Tetras network of medical practitioners comprises more than 600 referring physicians, 30 prescribing physicians and a national network of dispensing pharmacies.

This network has in excess of 1,100 active Australian patients and more than 10,000 prospective patients within its current database.

Increased patient access


THC Global CEO Ken Charteris said: “We are very pleased to have acquired Tetra Health. Through this acquisition, we will be able to rapidly increase the number of Australian patients can access cannabis, including our own high-quality low patient cost products.”

The companys shares were as much as 13% higher in early trade to 34 cents and closed at 33 cents.

Tetra has developed a proprietary patient engagement and monitoring solution enabling:

  • Secure patient onboarding;
  • Automation of Special Approval Scheme and Therapeutic Goods Administration applications;
  • Better patient management and ongoing monitoring through Tetras specialist nurses;
  • Follow-up physician consultations; and
  • Unique, valuable patient data accumulation for medicines producers.

The majority of Tetra patients attend physician consultations using a web-based telehealth platform, however, Tetra also processes patients through its growing prescribing physician network.

Revenue is generated primarily from patient consultation fees and from the supply of de-identified data and evidence generated from patient management.

Through its physician network and digital health platform, Tetra collects valuable real-world evidence generated during the patient onboarding and management process.

Data highly sought after


This data is highly sought after by producers of medicines as it can be used to enable data-driven product decisions and actionable treatment insights to assist in clinical trials or observational study designs that advance the safety and efficacy of medical cannabis in Australia.

Tetra has a number of global medicinal cannabis producers signed to agreements to access this data on their own products.

Charteris said: “Going forward, we will look to further broaden the current network and potentially expand across the Tasman and other regions.

“THC Global believes this acquisition will deliver exceptional value to our shareholders.”

Share sale agreement


Total consideration for the acquisition is $2.5 million in THC shares and $500,000 in cash to be paid to vendors over six months as well as 5 million unlisted options exercisable at 40 cents expiring two years after issue.

In line with a share sale agreement, completion of the acquisition is expected to occur on or around Monday, May 25, 2020.

If the vendors exercise their unlisted options, the company will receive a further $2 million in cash from the vendors.

Increasing accessibility


Tetra and THC Global are well equipped to rapidly increase the number of Australian patients using legal medicinal cannabis medicines, by increasing accessibility through simplifying the process of doctors consultations and TGA approvals, as well as supplying the companys high-quality, low patient cost medicinal cannabis medicines.

Tetra generates revenue primarily from patient consultation fees and from the supply of de-identified data and evidence generated from patient management.

On acquisition, Tetra will be operating at cash flow breakeven, with an expectation of near-term profitability as patient numbers increase through 2020.

Following the acquisition, Tetra will remain a product-agnostic solution for patients and medical professionals accessing medicinal cannabis under the Australian regulatory scheme.

Tetras doctors prescribe products produced by a range of companies and will introduce the THCs Canndeo medicines as they become available for prescriptiRead More – Source

Continue Reading

Australia

Minotaur Exploration enhances share purchase plan to $2.1 million following strong investor demand

Minotaur Exploration Ltd (ASX:MEP) has scaled back its share purchase plan (SPP) after receiving applications for $3.4 million while the target was to raise $1 million only.

Following the strong support from shareholders, Minotaur has decided to increase the size of SPP to $2.1 million, which it plans to spend on the companys fully-owned Australian projects.

“Very gratifying result”[hhmc]
Minotaur chairman Roger Higgins said: “This is a very gratifying result, replicating the recent over-subscribed Placement and signifying shareholders con­fidence in the company and its suite of projects.

“Minotaur will work to invigorate its wholly-owned portfolio and the Board looks forward to realising their potential.”

SPP details[hhmc]
The company has decided to allocate shares to at least 75% of the subscriptions from eligible shareholders with a holding of 10,000 shares or more.

Accordingly, Minotaur will allot 42.3 million new shares at a price of 5 cents a share to raise a total of $2.1 m..

Minotaur Exploration Ltd (ASX:MEP) has scaled back its share purchase plan (SPP) after receiving applications for $3.4 million while the target was to raise $1 million only.

Following the strong support from shareholders, Minotaur has decided to increase the size of SPP to $2.1 million, which it plans to spend on the companys fully-owned Australian projects.

“Very gratifying result”


Minotaur chairman Roger Higgins said: “This is a very gratifying result, replicating the recent over-subscribed Placement and signifying shareholders con­fidence in the company and its suite of projects.

“Minotaur will work to invigorate its wholly-owned portfolio and the Board looks forward to realising their potential.”

SPP details


The company has decided to allocate shares to at least 75% of the subscriptions from eligible shareholders with a holding of 10,000 shares or more.

Accordingly, Minotaur will allot 42.3 million new shares at a price of 5 cents a share to raise a total of $2.1 million, which will be in addition to the $4.05 million raised through the recently completed placement.

Allotment of the new securities is scheduled on September 28, 2020, and application funds exceeding those retained from each shareholder will be returned in line with the stated scale back policy by mail on October 1, 2020.

Use of funds


MiRead More – Source

Continue Reading

Australia

MMJ Group Holdings set to capitalise on WeedMD investment as company scales up

MMJ Group Holdings Ltd (ASX:MMJ) (OTCMKTS:MMJJF) is focused on adding to its portfolio of investments in the cannabis value chain in Australia, Canada and Europe.

The addition of WeedMD Inc. (CVE:WMD) (OTCMKTS:WDDMF) (FSE:4WE) in September 2019 is proving to be valuable, with the company producing cannabis products for both the medicinal and adult-use markets in Canada across its three branches – StarSeed Medical Inc, Color Cannabis and CX Industries.

WeedMe announced a C$2.5 million capital raising in March 2020 which strengthened its balance sheet to support its growth plans.

StarSeed Medical Inc[hhmc]
The unique direct-to-consumer medical platform StarSeed Medical is the market leader in insured medical cannabis.

StarSeed focuses on captive patients with benefits plans and insurers to launch customized insured medical cannabis programs to uniquely pair a care service model with medical-grade cannabis.

This targets valuable and overlooked medical channel sales with a closed-loop..

MMJ Group Holdings Ltd (ASX:MMJ) (OTCMKTS:MMJJF) is focused on adding to its portfolio of investments in the cannabis value chain in Australia, Canada and Europe.

The addition of WeedMD Inc. (CVE:WMD) (OTCMKTS:WDDMF) (FSE:4WE) in September 2019 is proving to be valuable, with the company producing cannabis products for both the medicinal and adult-use markets in Canada across its three branches – StarSeed Medical Inc, Color Cannabis and CX Industries.

WeedMe announced a C$2.5 million capital raising in March 2020 which strengthened its balance sheet to support its growth plans.

StarSeed Medical Inc


The unique direct-to-consumer medical platform StarSeed Medical is the market leader in insured medical cannabis.

StarSeed focuses on captive patients with benefits plans and insurers to launch customized insured medical cannabis programs to uniquely pair a care service model with medical-grade cannabis.

This targets valuable and overlooked medical channel sales with a closed-loop model which provides exclusive access to around 350,000-plus potential patients, offering patient-centred cannabis as a service.

Color Cannabis


The Color Cannabis brand consists of a range of distinctive products cultivated with care in the adult-use market.

WeedMD is focused on building brand awareness via promotional tools that trigger interaction, drive awareness and inspire trial at retail and online.

With the exclusive launch of renowned strain Black Sugar Rose, the introduction of a vaporization (vape) and pre-roll line, as well as new nitrogen-infused packaging, the company is executing on its commercial growth plans.

The closed loop medical system offers patient-centred cannabis as a service.

MMJs investment


MMJs investment in WeedMD now comprises:

a) C$6 million in 8.5% unsecured convertible debenture units issued by WeedMD which MMJ has the option to convert into 3.75 million shares by September 25, 2022 (the debenture units have preference over ordinary shares with interest paid to MMJ on quarterly basis); and

b) Warrants that allow MMJ to acquire an additional 3.75 million shares for C$1.80 each by September 25, 2022.

The group is well-placed to capitalise on WeedMDs focus on growth of its indoor and outdoor cultivation, combined with in-house extraction, product development and manufacturing capabilities.

WeedMD is optimized to grow at scale with the ability to expand to double the current size with modest incremental capexRead More – Source

Continue Reading

Australia

Manganese producers set to strike gold after Tesla unveils shift to new generation of batteries

Manganese producers are set to strike the proverbial pot of gold after the world's biggest electric car maker, Tesla Inc (NASDAQ:TSLA) (FRA:TL0) announced a major shift in its battery strategy – the move to manufacture its own batteries incorporating manganese and nickel.

Tesla's aim to drive down the cost of its electric cars will see the company producing its own new generation of batteries that will be more powerful, longer-lasting and half as expensive than the companys current cells.

More power and greater range[hhmc]
Teslas new larger cylindrical cells will provide five times more energy, six times more power and far greater driving range, according to Tesla chief executive officer Elon Musk.

Full production is about three years away, Musk said at Teslas Battery Day on Wednesday.

Manufacture own batteries[hhmc]

We intend to increase, not reduce battery cell purchases from Panasonic, LG & CATL (possibly other partners too). However, even with our cell suppliers goin..

Manganese producers are set to strike the proverbial pot of gold after the world's biggest electric car maker, Tesla Inc (NASDAQ:TSLA) (FRA:TL0) announced a major shift in its battery strategy – the move to manufacture its own batteries incorporating manganese and nickel.

Tesla's aim to drive down the cost of its electric cars will see the company producing its own new generation of batteries that will be more powerful, longer-lasting and half as expensive than the companys current cells.

More power and greater range


Teslas new larger cylindrical cells will provide five times more energy, six times more power and far greater driving range, according to Tesla chief executive officer Elon Musk.

Full production is about three years away, Musk said at Teslas Battery Day on Wednesday.

Manufacture own batteries

We intend to increase, not reduce battery cell purchases from Panasonic, LG & CATL (possibly other partners too). However, even with our cell suppliers going at maximum speed, we still foresee significant shortages in 2022 & beyond unless we also take action ourselves.

— Elon Musk (@elonmusk) September 21, 2020

Tesla aims to manufacture its own battery cells at several highly automated factories around the world and source its own raw materials, including manganese.

Musk disclosed several technological advances that it plans to implement to substantially lower the cost of producing lithium-ion batteries and electric vehicles.

This plan includes to start manufacturing at a very large scale, an innovative type of lithium-ion battery with a cathode that contains around 33% manganese, made directly from manganese metal.

Affordable electric car


The switch is aimed at delivery an 'affordable' electric car by slashing battery costs in half with new technology and processes.

Building an affordable electric car “has always been our dream from the beginning of the company”, Musk told an online audience of more than 270,000.

In January, Musk had said that in order to ramp-up production of the Tesla Model Y vehicle, introduce the new Cybertruck and launch its semi-electric truck, a lot more batteries would be needed.

“The thing were going to be really focused on is increasing battery production capacity because thats very fundamental – because if you dont improve battery production capacity, then you end up just shifting unit volume from one product to another and you havent actually produced more electric vehicles,” Musk said.

Euro Manganese shares soar


Euro Manganese Inc (ASX:EMNRead More – Source

Continue Reading

Trending