The valuation followed a meeting between Baker Tilly and the executive team of the company’s cannabis cultivation project in Zimbabwe
said it has been valued at US$210mln by accounting and consultancy firm Baker Tilly following an assessment of its operations.
The cannabis firm said Baker Tilly had met with the executive team of its cultivation project in Zimbabwe and were “very impressed” with its business model and operational progress.
READ: Eco Equity to raise £10.2mln through convertible note for medical cannabis development
Using a weighted valuation method, said the valuation from the consultancy’s report meant its shares were currently worth 56p each compared to the investment price of 10p each in the firm’s first round fundraising.
As a result, in its second round fundraise said it will be offering a 50% discount on its share price as valued by Baker Tilly for short period, allowing investors to pick up shares for 28p each.
Read More: Eco Equity valued at US$210mln by consultancy Baker Tilly