Just another CR for Everblu while under investigation with Asic-...

Just another CR for Everblu while under investigation with Asic- nothing new here
@sdjai






Cannabis products group Creso Pharma appears to getting on with business, topping up its coffers to the tune of $5 million for expansion into the United States.

The company’s long-time broker, EverBlu, was in the market with a $5 million raising on Tuesday, seeking buyers for 72.5 million new shares at 6.9¢.

The deal, at a 10.4 per cent discount to the last close, would help Creso Pharma expand into the US following its recent Green Goo acquisition, fund its working capital and offer costs, according to terms sent to potential investors.

EverBlu was calling for bids by 4pm on Wednesday.

Each share was sold with an attached option, on a one-for-one basis.

The company’s shares went into a trading halt on Tuesday and was due to return to the ASX-boards on Thursday. It had about a $100 million market capitalisation prior to the raising.

It comes three months after Creso notified that it was caught up in an ASIC investigation, and soon after appointed a new CEO and two new directors.

Creso’s broker, EverBlu, was also raided as part of the investigation. EverBlu’s Adam Blumenthal was also Creso’s chairman, but stood aside while the investigation took place.