MediCann Health raises $1M

The MediCann Health crowdfunding has closed with a total raised of $1,090,010.25 from 698 investors.

The MediCann Health model:

MediCann has built an integrated cannabis ecosystem consisting of a diversified group of cannabis and hemp businesses, including medical consultations, medicines and over-the-counter food and wellness products.

The MediCann Health offer:

The offer of fully-paid ordinary shares in MediCann Health Aust Pty Ltd at $0.35 per share to raise a maximum of $2,000,000. The minimum individual investment is $250 and the maximum is $10,000 for retail investors. Investors wishing to invest more than $10k AUD need to provide evidence of wholesale status.

The company had a pre-valuation of $51.09M.

Funds will be used to grow their operations by funding the demand of their exisiting medicine range, launching a new suite of products, expanding their sales operations and continuing their research partnership with Curtin University.

The MediCann Health crowdfunding is the latest in a line of successful Australian cannabis crowdfundings that have included;

Aruma Labs raised $858000 with VentureCrowd in Dec. 2021.
Botanic Wellness raised $406K with Equitise in Sept 2020.
Cannatrek raised $2.5M with OnMarket in Dec. 2020.
CDA raised $1.5M with PledgeMe in June 2019.
Compass Clinics raised $1.3M with Birchal in July 2020.
Medibis raised $1.8M with Birchal in Aug. 2021.
Montu raised $3.5M with Birchal in Dec. 2021.
TetraMed Limited raised $398423 from OnMarket in Feb. 2020.