Overview of Elixinol Wellness Limited's rights issue offer

Elixinol Wellness Limited (ASX: $EXL) has announced a non-renounceable pro-rata rights issue to eligible shareholders. The offer entails providing 1 new share for every share held at an issue price of 0.5 cents per new share, along with 1 new option for every 2 new shares issued. The offer aims to raise a maximum of approximately $3.16 million before costs and is underwritten by Canaccord Genuity (Australia) Limited. The funds raised will be used to complete the purchase of Ananda Food Pty Ltd and for general working capital purposes.

Executive commentary on the rights issue offer

The Prospectus outlines the terms and conditions of the offer, including the rights and liabilities attaching to the securities, risks associated with the investment, and additional information for potential investors.

Summary of Elixinol Wellness Limited's rights issue offer

Elixinol Wellness Limited (EXL) is offering New Shares, New Options, and Sub-Underwriter Options to eligible shareholders through a Rights Issue Offer. The company aims to raise funds for continued development, sale, and distribution of its products, including the completion of the Ananda Food Pty Ltd acquisition. The Prospectus provides detailed information about the offer, including eligibility, entitlements, underwriting, use of funds, and the process for taking up the entitlements. Shareholders are encouraged to carefully read the Prospectus before making any investment decisions. The announcement also outlines the potential effect on the control of the company, market price of shares, and the rights and actions required by eligible shareholders.