Dark Horse Resources (ASX: DHR) has announced the results of a recently concluded Share Purchase Plan (SPP) and an update on the Permit Purchase Agreement of new assets.
Initially, the SPP was planned to raise between $750,000 and $1,000,000 through a cash and debt conversion. However, with an overwhelming demand from shareholders, the board has decided to honour all applications, raising a total of $1,532,000 including $1,277,000 in cash and $255,000 in debt conversion. The shares are anticipated to be allotted on 21 July 2020.
Additionally, Dark Horse Resources is progressing on the Permit Purchase Agreement (PPA) for the Tampere Gold Project and Bergslagen Tungsten Project in Europe. The company anticipates the agreement to be executed within the 45-day exclusivity period.
Disclaimer
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Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)
