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Asterion Cannabis set to raise C$10M to fund construction of pioneering Toowoomba facility

The facility will feature around 40 hectares of purpose-built greenhouses to produce high-quality, organic medicinal cannabis

greenhouse cannabis
The company is raising C$10 million for the facility

Asterion Cannabis Inc said Thursday it is raising C$10 million to fund the construction of its state-of-the-art cultivation compound in Australia. 

The Toowoomba facility in southeast Queensland will feature around 40 hectares of purpose-built greenhouses to produce high-quality, organic medicinal cannabis. 

The scheme was awarded Major Project Status by the Australian federal government last year.

READ: Asterion Cannabis' Australian subsidiary to kickstart Toowoomba Medicinal Cannabis project

Under the terms of the financing, Vancouver-based Asterion is offering nearly 6.7 million units at C$1.50 per unit for gross proceeds of up to C$10 million.

Each unit consists of one share and one-half of one warrant, with each whole warrant exercisable at C$2 for a 24-month period.

Asterion Cannabis is currently a privately owned medicinal-cannabis producer focused on producing the highest quality of genetically uniform cannabis strains, at an affordable price.

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Full interview: Asterion Cannabis hires major talent for Major project in...

Asterion Cannabis Director of Development for Australia Peter Ryan sat down with Steve Darling from Proactive Vancouver to discuss his new role with the company.  Ryan telling Proactive about his impressive background and why this project was so enticing for him to be a part of. 

on 10/10/2019

2 min read