Medical cannabis company Little Green Pharma's founder Fleta Solomon has stepped down as chief executive to reduce her workload and focus on other divisions of the business.
Little Green Pharma has revealed plans to demerge its psychedelics business into a separate unlisted entity, while forming a research partnership with Curtin University.
Hancock Prospecting will own a 10 per cent stake in Western Australian medicinal cannabis company Little Green Pharma after participating in a $27.2 million capital raising.
Little Green Pharma began trading on the ASX today, with its shares closing 10 cents below the price of its initial public offering, despite signing a five-year supply contract with a UK pharmaceutical company overnight.
Emerald Clinics and Little Green Pharma have both completed their initial public offerings ahead of stock market listings this month, with Emerald getting ready for its ASX debut tomorrow.
Perth companies Emerald Clinics and Little Green Pharma are seeking to raise up to $18 million ahead of stock market listings as they pursue very different strategies in the medicinal cannabis market.
