October 15 (SeeNews) - North Macedonia's Securities and Exchange Commission (SEC) said on Friday it gave the nod to local medicinal cannabis producer Sinceritas to raise 2.1 million euro ($2.4 million) in funding through a new share issue.
Sinceritas will issue 190,500 ordinary shares at a price of 11 euro each, higher than their nominal value of 1 euro, the SEC said in a statement.
The transaction will increase Sinceritas' capital by 190,500 euro.
The new shares will be purchased by six buyers - foreign individuals and legal entities - who remained undisclosed.
Sinceritas is issuing the new shares to raise capital for its operations, the statement reads.
($ = 0.8616 euro)