Shares of medicinal cannabis research firm Cannasouth rose a further 10 per cent today as it said it is complying with its disclosure obligations under NZX listing rules.
The firm, which raised $10 million in a June share float priced at 50 cents each, was responding to a price inquiry from the stock exchange operator.
NZX noted Cannasouth shares had risen from 40.5 cents at the close of trading on September 2, to 75 cents last night, an increase of 85.2 per cent. More than 2.2 million shares changed hands yesterday, the most since listing.
The shares touched a high of 84 cents. By early afternoon, just over 1.6 million shares had traded. The shares recently traded up 2.7 per cent at 77 cents.
Cannasouth's lawyers, Corporate Counsel, said in a statement that its client continues to comply with listing rule 3.1.1 on disclosure of material information.
