Significant Sales Growth and Corporate Update
Brisbane, QLD, Australia – June 30, 2021 – Indica Industries Pty Ltd. T/A
MedReleaf Australia (“MedReleaf” or the “Company”), a private Queensland-based
company operating within Australia’s medical cannabis framework, is pleased to
announce that it has closed a non-brokered private placement financing of
common shares at a price of A$21.00 per share for gross proceeds of A$3.9
million (the “Offering”), an oversubscription of A$0.9 million from MedReleaf’s
originally contemplated maximum offering size.
The proceeds from the Offering will be used for
expanding sales and marketing, inventory, education, regulatory compliance, research and development
and general corporate purposes.