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Hydroponics to launch A$3M share purchase plan

The Hydroponics Co. Ltd. will offer up to 4,761,905 new shares at 63 Australian cents apiece in a purchase plan to raise up to A$3 million before costs.

The offer will open Dec. 20 and close Jan. 19, 2018. Shareholders with a registered address in Australia or New Zealand can apply for up to A$15,000 in new shares.

The company will use proceeds to progress its domestic development of medicinal cannabis, further investment into Canadian assets and provide working capital.