The Covid-19 global pandemic has seen CM Partners to the fore in helping its clients raise capital to strengthen balance sheets and to fund and accelerate growth initiatives.
Between March and June 2020, CMP has managed and advised on the following capital raisings:
Cannasouth Limited (NZX:CBD) – NZ$6.024m for CBD through an SPP and share placement. Funds raised from the capital raising will be used to accelerate:
- Registration and launch of CBD’s first imported white label medicinal cannabis products;
- Expansion of Midwest Pharmaceutics NZ Ltd’s (60% owned) existing GMP (Good Manufacturing Practice) operating capacity to meet current strong demand from the pharmaceutical, health and wellness supplement sectors and increase existing revenues;
- Development of cannabinoid processing capability at Midwest, including toll manufacturing services;
- Commissioning of the first stage of Cannasouth Cultivation Ltd’s (50% owned) new scalable growing facility and commencing production of medicinal cannabis raw flower sales; and
- Progression of next generation products and supporting clinical research for commercialisation within the Cannasouth Group.
TruScreen Limited (NZX:TRU) – NZ$5.243m through an SPP and share placement. Funds raised from the capital raising will be applied towards:
- Growing and increasing TruScreen’s presence in the Chinese market;
- Developing other global markets with a focus on Vietnam, Russia and India; and
- Providing additional working capital.
QEX Logistics Limited (NZX:QEX) – NZ$1.7m through an SPP and share placement. Funds raised from the capital raising will be used for:
- Supporting Australian and Chinese business growth and expansion;
- Developing new logistics opportunities in other countries;
- Diversifying QEX’s product and services range;
- Acquisition opportunities; and
- Additional working capital.
Arria NLG – Series D Placement (unlisted) – NZ$10m through a placement to high net worth and wholesale investors. Money raised from the placement is being used by Arria to:
- Grow both new and existing clients (via Arria’s Direct, Partner and Online Sales Channels) prioritizing global enterprises that are committed to Digital Transformation and Automation;
- Continue the leveraging of well-established technologies and platforms that are complementary to the Arria NLG platform such as Business Intelligence (BI), Robotic Process Automation (RPA) and Conversational AI (Virtual Digital Assistants, Chatbots, etc); and
- Continue to develop Arria NLG Studio and expand the Arria NLG platform to enable faster, easier adoption across enterprises.
CM Partners has also been active in a number of other initiatives to help clients and companies navigate their way through the current Covid-19 pandemic and position themselves for the challenges and opportunities ahead.
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