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The Hydroponics Company advances medical cannabis strategy as shares released from escrow

The company has a clear strategy for bringing medicinal cannabis to the Australian market.
The company has $4.7 million in cash

The Hydroponics Company Ltd (ASX:THC) has been a medical cannabis success story since listing on the ASX in May this year, following an IPO at an entry price of $0.20.

Adding further value to the IPO, for each two shares subscribed and issued, there was one $0.40 option given, which is now heavily in-the-money.

The Hydroponics Company last traded at $0.85, and has been as high as $1.15.

The company has now allocated additional shares which have exited escrow, with circa 104 million on issue.

Total shareholders in the company has now swelled towards 2000, a more than two-fold increase on the IPO entrants.

Key achievements since listing

The company's wholly-owned subsidiary, Canndeo Limited, has delivered key milestones since listing, such as:

- International Partner Alliance agreement;
- Medicinal Cannabis Research Licence Granted July 2017;
- Clinical Trial partner mandated;
- Medicinal Cannabis Prescription and Dispensing Portal;
- Medicinal Cannabis Licence granted October 2017;
- Manufacturing Licence application lodged; and
- Significant investment into Australian facilities.

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