The Smartest Investors Club
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Smartest Investors Club

Investing

Health House Australia and Corporate Update

by April 9, 2024
April 9, 2024
Health House Australia and Corporate Update

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to advise that its wholly owned Australian subsidiary, Health House Australia, continues to make strong operational progress.

Highlights:

Health House Australia announces the planned launch of its medicinal cannabis clinic in Q2 of 2024The group is also pleased to announce that it has added several new suppliers during Q1 of 2024Health House Australia was a key contributor to Melodiol group FY 2023 revenues of $21.6m (an increase of 148% on FY 2022)Health House Australia and Health House UK contributed $11.5m to group FY 23 revenuesPlacement completed to fund working capital requirements

Over the past several months, Health House Australia has undertaken significant internal analysis and planning for the launch of its medicinal cannabis clinic. Health House Australia expects the Health House Wellness Clinic to be operational in Q2 of 2024 and views this activity as a key strategic objective. The operation of the Health House Wellness Clinic is expected to significantly extend Health House Australia’s value proposition to existing and prospective suppliers. The ability to attract and add new suppliers to the group’s portfolio is a significant driver of the group’s ability to grow revenues.

During Q1 of 2024, Health House Australia successfully added several new suppliers to its existing base. These include Botanitech, Chemovar, Endoca, Quantum, and MedTEC Pharma’s announcement of Health House Australia as its lead launch partner on the introduction of their Australian-grown flower and oil medicines, slated for Q2 of 2024. The continued addition of new suppliers to its portfolio is a core strategic objective of Health House Australia.

Management commentary:

CEO and Managing Director, Mr William Lay said: “Since being Australia’s first company to import medicinal cannabis in 2017, Health House Australia’s unwavering commitment to great service and integrity has led to it becoming one of the trusted names within the distribution of medical cannabis in Australia. I am very proud of our team for their hard work to remain a supplier of choice for existing relationships, and for continuing to expand the supplier base. Additionally, we are very excited about the launch of Health House’s medical cannabis clinic in Q2 of 2024, which will serve to further strengthen Health House Australia’s value proposition to existing and new suppliers.”

Placement:

The Company advises that it has received firm commitments to raise $796,000 (before costs) through the issue of approximately 180,090,498 new fully paid ordinary shares (‘Shares’) at an issue price of $0.00442 per Share (the ‘Placement’).

The Company will issue 101,357,466 shares today, representing $488,000 of the placement proceeds, with the remainder to be completed on a deferred settlement basis no later than 16 April 2024. Please refer to the Company’s Appendix 2A and Appendix 3B lodged today for further details on the placement.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
First Parcel of Ore for 2024 to be Processed Mid-April
next post
Gold and Nickel Exploration Update

You may also like

Australian Vanadium

Bonanza East 12.4m @ 33.4 g/t AuEq, including...

BPH Energy LimitedPEP11 Update Federal Court Judicial Review

Argentina Lithium Announces Cancellation of the Non-Brokered Private...

Deep-Sea Crisis: Can the ISA Regain Control of...

Alvopetro Announces 2024 Year End Reserves Including a...

Mawson Finland Begins 2025 Drill Program, Mobilizing Multiple...

Element79 Provides Updates on ASM Formalization and Progress...

Top 5 ASX Technology Stocks

More High Grade with up to 60% Heavy...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • China has spent billions developing military tech. Conflict between India and Pakistan...

    • NorthStar Gaming Announces Receipt of Management Cease Trade Order

    • Department of Justice opens criminal investigation into NY AG Letitia James

    • Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    • Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    Categories

    • Business (1,633)
    • Investing (4,790)
    • Politics (7,535)
    • World (6,125)
    • Terms & Conditions
    • Privacy Policy
    • About us

    Disclaimer: thesmartestinvestorsclub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 thesmartestinvestorsclub.com | All Rights Reserved


    Back To Top