AusCann Group Holdings Ltd (ASX: AC8) in a Trading Halt

Trading Halt: AusCann Group Holdings Ltd (ASX: AC8) stock was placed in a trading halt at the request of the company on July 03, 2018 and it will resume normal trading from 5th July, 2018 or when the announcement is released to the market. It is indicated that the company might be intending to raise funds. On the other hand, AC8 has planned to accelerate its Australian medical cannabis manufacturing operation with the appointment of Luke Pigeau as master grower. The company has signed a cultivation research agreement with Canadian group, Jade Cannabis for an initial three-year period to develop and optimise the AusCann cannabis cultivation system. Moreover, AC8 and Tasmanian Alkaloids (TasAlk) has signed an exclusive strategic partnership to jointly establish the cultivation, manufacturing, and distribution operations for cannabinoid pharmaceuticals in Australia and overseas. Further, the company has completed design of the Australian facility and state of the art cultivation rooms and has ordered monitoring systems from Canada. Meanwhile, AC8 stock has fallen 17.95% in three months as on July 02, 2018.


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