SYDNEY, Australia, May 4, 2017 /Weed Wire/ — The Hydroponics Company Limited (ASX:THC or ‘the Company’) is pleased to announce that it has today commenced trading on the Australian Securities Exchange (ASX), following its successful $8m capital raising. The Company is well placed to achieve a number of milestones in the next 6-12 months.
The IPO was heavily oversubscribed with strong interest from investors in Australia and overseas. THC was formed to conduct the business of manufacturing and distributing hydroponic cultivating and processing equipment, design and management of small to large-scale greenhouses and the development of allied plant technologies, including a focus on medicinal cannabis.
Funds from the IPO will be used to expand THC’s market share as a key manufacturer and distributer of hydroponics equipment, materials and nutrients, large scale hydroponic greenhouse design and construction, and to fund development and delivery of medicinal cannabis in Australia.
Commenting on the success of the IPO, THC’s Chairman Alan Beasley said: “We are very pleased by the strong level of interest in The Hydroponics Company and we look forward to executing our growth strategy, achieving a number of important milestones in line with plans to become a leading, global cannabis company with diversified revenue streams. Our debut on the Australian Securities Exchange marks an important step forward for the Company. The success of the IPO reflects the quality of our experienced team, our established core cannabis businesses and the outlook for growth in the cannabis industry over the next 12-24 months.”
Developing a leading, diversified cannabis company with compelling outlook for growth
The Hydroponics Company aims to expand an extensive range of equipment for cannabis cultivation and processing, as well as high-end next generation agricultural products, and has agreements to acquire and/or collaborate with companies, technologies or projects that are aligned with its objectives to expand in the global cannabis industry in the near term.
In February, THC’s medicinal cannabis division, Canndeo, lodged an application for a Research Licence which will allow the Company to legally cultivate medicinal cannabis and conduct research on the use of cannabis for medicinal purposes. THC is targeting multiple markets with high purity cannabidiol, a new class of medicinal product that can be used to target dementia, epilepsy and other neurological disorders.
The Company is focused on converting unique intellectual property in cannabis breeds and extraction technology to approved products for the Australian market and aims to lead the development of therapeutically superior, paramount quality and cost effective medicines derived from Cannabis sativa. Canndeo leverages more than 17 years of experience in the breeding, variety selection and growth management of Cannabis sativa and this expertise will be applied to the production of medicinal cannabis in Australia.
The board of The Hydroponics Company extends a warm welcome to all new shareholders.
The Hydroponics Company Limited
(ASX:THC) ACN: 614 508 039
Level 2, 131 Macquarie Street, Sydney, NSW, Australia. 2000.
For further information, please contact:
The Hydroponics Company Limited
Level 2, 131 Macquarie Street, Sydney, NSW 2000 Australia
P:+61 2 9251 7177
M:+61 418 613 028
About The Hydroponics Company
Director Corporate Media Relations
MMR Corporate Services Pty Ltd
Level 2, 131 Macquarie Street Sydney, NSW 2000 Australia
P: +61 2 9251 7177
M: +61 449 607 636
The Hydroponics Company (ASX:THC) is at the forefront of developing a leading, diversified worldwide cannabis business, focused on three core business units: Development and delivery of medicinal cannabis, manufacturing and distribution of hydroponics equipment, materials and nutrients, and large scale hydroponic greenhouse design and construction. With +17 years of Cannabis sativa breeding, variety selection and growth management, THC is actively developing plant breeding technology to target multiple markets for high purity cannabidiol (CBD), a new class of medicinal product that can be used to target dementia, epilepsy and other neurological disorders.
This Prospectus contains forward looking statements which are statements that may be identified by words such as “may”, “could”, “believes”, “estimates”, “expects”, “intends” and other similar words that involve risks and uncertainties. Except as required by law, and only to the extent so required, the Company has no intention to update or revise forward looking statements, or to publish prospective financial information in the future, regardless of whether expressed or implied by such forward looking statements. Such factors include, but are not limited to, those described in Section 5 and other information in this Prospectus. Forward-looking statements are based on assumptions and are not guarantees or predictions of future performance. The Issuer cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this Prospectus will occur. Investors are cautioned not to place any reliance on these forward-looking statements.