Actually the reason for the wholesale/insto is so they don't need to provide a full prospectus, among other benefits. When Investors are classed as Wholesale/Sophisticated investors, there are limited requirements to offer a cap raise. It costs the business more money to do it for retail investors, hence the third one was offered to us mugs haha.
This is a $50m market cap business, these type of raises keep dollars coming through with limited costs to offer to wholesale investors.
Medlab is not about growing pot, this is a business building out a suite of patented medical products, they will not be able to do it on their own so expect JV's or even a buyout should FDA approval be granted over the next 24 mths for Nannabis. Dr Sean Hall sold their family business to Swisse, so he knows how to build a company that is attractive to larger multinationals.
MDC Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
(20min delay)