Shantel
Key Takeaways:
- Dragonfly Biosciences UK, makers of Dragonfly CBD, announces approval of its prospectus by the Australian Securities and Investments Commission.
- The company plans to raise $5 million AUD at $0.20 per share, a deal jointly led by Finexia Securities Limited and RM Corporate Finance Pty Limited.
- With its CBD products already achieving widespread success in the UK, Europe, and Australia, Dragonfly Biosciences expects to leverage this growth for further global expansion.
About Dragonfly Biosciences Ltd.
Dragonfly Biosciences Ltd. is a UK-based company producing Dragonfly CBD, a leading seed-to-shelf range of CBD oils and skincare products. The company has earned numerous accolades, including “Best CBD Product” in 2020 and being voted the number one recommended CBD brand by Boots’ customers in 2021. The company is recognized for its commitment to quality, from cultivation to extraction, formulation, and compliance.
Dragonfly Biosciences UK to Join ASX
Following the approval of its prospectus by the Australian Securities and Investments Commission on June 27, 2023, Dragonfly Biosciences UK is scheduled to begin trading on the ASX from August 2023. This marks a significant milestone for the company as it moves to expand its reach in the CBD market, which is expected to grow from $3.6 billion USD to $55 billion USD by 2028.
Plans for Growth and Expansion
Dragonfly Biosciences aims to raise $5 million AUD at $0.20 per share in its ASX listing, with Finexia Securities Limited and RM Corporate Finance Pty Limited jointly leading the financing.
Regan Saveall, Chief Executive at Dragonfly Biosciences UK, emphasized the company’s commitment to quality and innovation, stating, “As we move through 2023 and beyond, we will continue to introduce global market firsts and our business expansion strategies will propel us into new markets as we strive to create the next generation of health and wellness innovation.”
The company’s CBD products are already widely available online and in stores across the UK, Europe, and Australia. They also made history as the first CBD brand in the UK to be stocked by Boots, and they are available in Australian pharmacies.
An Eye on Sustainability
Beyond its commercial objectives, Dragonfly Biosciences is committed to environmentally sustainable practices. Hemp cultivation has a sequestration ratio of 1.5 units of sequestration per unit produced, meaning one tonne of harvested hemp can sequester 1.62 tonnes of CO2.
For more information, visit www.dragonflycbd.com
