Cannasouth Initial Public Offering (IPO) opens
The Board of Cannasouth Limited is pleased to advise that its IPO to raise a minimum of $5 million (10 million new ordinary shares) and a maximum of $10 million (20 million new ordinary shares) is now open.
The offer consists of a Priority Pool of $5m and a General Offer of $5m.
LAW121 - New Zealand's System of Government
Expressions of interest from those investors wishing to participate in the Priority Pool far exceeded the number of shares available and have been scaled significantly. Non-binding pre-registration interest in the General Offer also indicates there is likely to be very strong demand for the General Offer.
Key terms of the offer are attached.
- Description of the equity securities: Ordinary fully paid Shares
- Price: NZ 50 cents per Share
- Offer opens: 27 May 2019
- Priority Offer closes: 7 June 2019
- General Offer closes: 14 June 2019
- Number or amount of the equity securities being offered:
A minimum of 10,000,000 new Shares are being offered; and
A maximum of 20,000,000 new Shares are being offered.
Structure of the Offer
The Offer consists of:
- The Priority Offer of up to $5 million, which is only open to those investors who have been invited by Cannasouth to participate in the Priority Offer; and
- The General Offer of up to $5 million, which is open to all investors resident in New Zealand.
A copy of the Product Disclosure Statement and application instructions can be found at
For further information contact:
Email: [email protected]
Mobile: 021 484 649