Creso Pharma received commitments to raise AU$7.6million via the issue of two separate convertible notes

Creso Pharma Limited (ASX:CPH)  announced that it has received commitments to raise a total of up to AU$7.6million through the issue of two separate convertible notes.

The new funding includes commitments from new as well as current professional investors to raise AU$2.6 million via the issue of secured convertible notes plus an additional deal with NY-based asset and fund manager Obsidian Global GP, LLC to raise up to AU$5 million  via convertible notes.

The funds will be deployed:

• To support marketing and sales of the CPH’s current products in Canada, Europe, and the US.
• Further advancement of Halucenex’s Phase II clinical trial, review and completion of potential M&A opportunities.
• General working capital.

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