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Stocks in Hong Kong firm that is pharmaceutical after issuing stocks to China-based hemp producer to explore medical cannabisSeptember 23, 2019 | AiiM
Stocks in Hong Kong firm that is pharmaceutical after issuing stocks to China-based hemp producer to explore medical cannabis
Hong Kong-based firm that is pharmaceutical Health Overseas Industry Group issued 312 million shares that are new Hemp Investment Group, a Chinese hemp producer, for about HK$109 million (US$13.92 million) to be able to explore the healing uses of cannabis in Asia. As outcome of the move, shares in Meilleure rose by as much as 35% on Thursday, February 22.
Based on Meilleure Health, web profits from the share registration will soon be utilized to expand the company’s money base along with to prepare for business development possibilities pertaining to the hemp health industry. The business additionally desires to explore the creation of treatment and avoidance products for conditions like epilepsy and Alzheimer’s conditions, as well as analgesics and antidepressants, using cannabinoids as core component.