Katar Investments have been a crucial partner to Grow Biotech assisting in the initial raise of 2 million pounds, The proposed Initial Public Offering is fantastic news for Grow Biotech and our investors however the biggest winners will be the people who benefit from the undoubted medicinal properties of marijuana.
Funding for research projects
The cash will be used to fund a couple of research projects which bosses believe present “attractive potential returns on investment”.
Given the interest from investors and the progression of its two core projects into laboratories, Grow is now looking to IPO in the fourth quarter of next year (2019).
“We are thrilled that our private placement has been so well received by investors in the UK,” said chief executive Ben Langley.
“The proceeds raised will be used to accelerate our recent progress, particularly in our two core research and development projects in the UK and Canada.
“It really is an exciting time for Grow Biotech and for the global medical cannabis market.”
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