Hopefully this placement adds more support to the share price heading into next year, with the trials about to kick off. $50 million is dirt cheap for a company about to start multiple trials, with three drugs specifically targeting $1 billion dollar industries. The trials are ground-breaking, a first of their kind with no competition on the market. That means it should be easier for the drugs to get through the trial process, assuming they work and we know the benefits of cannabis have been scientifically discussed for decades. In this case, one would expect most of the trials to pass with flying colours and therefore result in a sharply higher share price.
The last placement was done @ 3.8 cents at a tiny discount to the share price and, according to people on here & Fresh Equities, we're seeing this one at 7.8 cents - another tiny discount to the share price. You got to wonder why such a tight discount - it's basically at market price! But we shouldn't be surprised with everything coming together.
When the 3.8 cent raising was done the share price more than doubled. So the question now is, will the share price re-rate start after this raising? Hopefully with an insto or two taking part in the placement (assuming it happens) and some high net wealth investors, the fireworks should begin right away and we should see 10+ cent shortly, as we head into trials. To your first million, -Trading For Millions
IHL Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
