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Home 🌿 Marijuana Business News 🌿 Canberra-Based Company Morphs Into A Marijuana And Industrial Hemp Company 🌿Canberra-Based Company Morphs Into A Marijuana And Industrial Hemp Company
A STAGNANT Australian mining company, known as a zombie, is morphing into a marijuana and industrial hemp company and intends to be the first listed company of its type.
The Canberra based Capital Mining has barely traded with its shares valued at less than a cent, hence the zombie category, but it is now aiming at snapping up future global licences in countries where legislation surrounding marijuana changes.
Capital listed on the ASX March 2007 and was engaged in the exploration for deposits of gold, base metals, platinum, nickel, uranium and other rare metals in south eastern Australia.
It follows the listing of Phytotech in January, a medical marijuana company which is also aiming at the US market.
Capital will buying three separate companies in the North American markets and to do this will attempt to raise $15 million.
Analysts BBY said once all transactions are completed, CMY would be...
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