Botanix completes $40m capital raising ahead of international push

Botanix completes $40m capital raising ahead of international push

On the cusp of what Botanix (ASX: BOT) is calling "one of the most significant chapters" in the development of its cannabis portfolio, the company has completed a $40 million capital raising. The oversubscribed share placement was led by the US-based institutional investors and specialist biotech investment funds opting for a bi...

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Healthia on a roll with latest acquisitions

Healthia on a roll with latest acquisitions

Diversified health business Healthia (ASX: HLA) has been on a buying spree of late, with today's acquisition of a suite of hand therapy clinics its latest purchase. The group, chaired by former Greencross CEO Dr. Glen Richards, has acquired four specialty hand therapy clinics in Sydney for $3.5 million in total. Group CEO of Physi...

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Qantas' stake in Alliance hits turbulence

Qantas' stake in Alliance hits turbulence

Qantas' (ASX: QAN) acquisition of a 20 per cent interest in Alliance Airlines (ASX: AQZ) has triggered alarm bells for the competition watchdog. In a statement released this morning, the Australian Competition and Consumer Commission (ACCC) noted some red flags relating to certain transport routes only travelled by Qantas and Alliance...

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Superloop earnings return to normal after major project completion

Superloop earnings return to normal after major project completion

Major network builds will be the foundation for Superloop's (ASX: SLC) earnings recovery over the next financial year. The company announced this morning it expects FY20 underlying guidance to double year-on-year to $14-$16 million. This growth is backed by recent network builds as well as strong anticipated growth in its fibre co...

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Property developer Ralan falls into administration

Property developer Ralan falls into administration

Major NSW-based property developer Ralan Group has fallen into administration, leaving key builds in the lurch alongside its creditors. Administrators Grant Thorton were appointed on Wednesday to determine what is to happen with the collapsed company. The Ralan group specialises in the development and management of commercial and resi...

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Oaktree takes hold of Blue Sky's water assets

Oaktree takes hold of Blue Sky's water assets

The carving up of Blue Sky Alternative Investments (ASX: BLA) has begun with assets set to be filtered through to the vulture fund that came to its rescue in the darkest hour.  Yesterday the embattled company announced restructuring would commence this week with the transfer of its water and agricultural funds - known as its real ass...

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The rise and fall of Blue Sky: A timeline from ASX powerhouse to pariah

The rise and fall of Blue Sky: A timeline from ASX powerhouse to pariah

Fund manager Blue Sky Alternative Investments (ASX: BLA) ended its 7.5-year run on the ASX after going into receivership. At its peak the Brisbane-based investment firm was worth almost $1.2 billion, with capital raisings easily fulfilled and an aggressive investment strategy fuelling global interest.  During what appeared t...

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Former Leighton CFO to be given two years imprisonment for falsifying the books

Former Leighton CFO to be given two years imprisonment for falsifying the books

Peter Alan Gregg, a former CFO of Leighton Holdings (LHL), is looking at two years in jail for cooking the books. Gregg was found guilty in December 2018 after a five-week trial by jury for falsifying LHL's books. Meanwhile, former LHL executive Russell Waugh who was managing director at Leighton Welspun Contractors Pvt Ltd, was f...

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GO1 secures new global HQ

GO1 secures new global HQ

Online education and training aggregators GO1 have set up their brand-new global headquarters in Logan, Queensland. The business, co-founded by young entrepreneurs Vu Tran (pictured) and Andrew Barnes, offers more than 45,000 training courses online form a range of different education content providers. Tran says running his globally ...

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Corporate raiders come knocking at Yowie's door

Corporate raiders come knocking at Yowie's door

A pair of notorious corporate raiders behind two unsuccessful attempts to buy out confectioner Yowie (ASX: YOW) are taking matters into their own hands. Farooq Khan and Nicholas Bolton have launched an attempt to have chairman Louis Carroll and executive director Glen Watts removed from the company board. It is the latest play from th...

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Furniture e-commerce leader Temple & Webster tables first profit

Furniture e-commerce leader Temple & Webster tables first profit

Furniture retailer Temple & Webster's (ASX: TPW) online model has paid off with the company recording its first full year profit. During FY19 the company generated $101.6 million in revenue, up 41 per cent on the prior year. Most notably for investors who have stuck with the e-commerce furniture and homewares vendor since its ...

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Healthy turnaround for Oliver's Real Food

Healthy turnaround for Oliver's Real Food

Since Oliver's Real Food (ASX: OLI) founder Jason Gunn returned to helm the ship the company's fortunes have improved substantially. During the fourth quarter the health-oriented fast food business delivered a profit as well as earnings of $161,000. "This is a direct outcome of management's determination to eliminate ...

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National Veterinary Care to acquire procurement business

National Veterinary Care to acquire procurement business

Australian Young Entrepreneur of the Year 2018 Tomas Steenackers' (pictured) listed National Veterinary Care (ASX: NVL) has announced the acquisition of a new business. NVL expects to complete the $5 million acquisition of the 'veterinary procurement business' by 30 September 2019. The acquisition will complement its exist...

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Village Roadshow part-owned US cinema chain facing possible bankruptcy

Village Roadshow part-owned US cinema chain facing possible bankruptcy

A US cinema chain that is 24.5 per cent owned by Village Roadshow (ASX: VRL) is potentially facing bankruptcy. The American cinema chain iPic Entertainment, announced on Friday US time that it would be unable to repay a $10.1 million interest payment to the Employees Retirement System of Alabama (ERSA) and the Teachers Retirement Sys...

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Bubs breaks records with strongest quarter to date

Bubs breaks records with strongest quarter to date

Landmark deals with China, a major acquisition and an alliance with Chemist Warehouse were all part of Bubs Australia's (ASX: BUB) formula for success in 2019. The organic baby food, infant formula and goat dairy producer closed out FY19 with its strongest ever quarter, reporting a 179 per cent yearly revenue increase to $51.3 million...

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Aussie cannabis companies find footholds in the UK

Aussie cannabis companies find footholds in the UK

Two major cannabis companies Bod Australia (ASX: BDA) and Elixinol (ASX: EXL) have announced partnerships establishing relationships in the United Kingdom. With a growing medicinal cannabis market estimated to be worth $14 billion by 2028, the UK is fast becoming an essential market for expanding companies. Bod has signed an agreement...

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ACCC: Facebook and Google's power distorts companies' ability to compete

ACCC: Facebook and Google's power distorts companies' ability to compete

The long-awaited Australian Competition and Consumer Commission (ACCC) report into the out-of-control growth and dominance of digital platforms has been released today, with the watchdog critical of giants Facebook and Google. The overarching theme of the report can be distilled into the ACCC not trusting the platforms to self-regulate, w...

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Janine Allis stands with board ahead of possible Retail Zoo IPO

Janine Allis stands with board ahead of possible Retail Zoo IPO

Rumours of a potential ASX listing of franchise group Retail Zoo are swirling as of late. The company, which operates Janine Allis' extremely successful Boost and a swathe of other brands, is exploring a range of options to keep growth on an upward trajectory. The group - also responsible for Betty's Burgers, Cibo Espress...

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ASIC to launch proceedings against ANZ

ASIC to launch proceedings against ANZ

ANZ is set to face civil penalty proceedings over fees charged to customers who failed to make scheduled payments between accounts. The issue was part of an ultimately unsuccessful class action brought by law firm Maurice Blackburn, but in December 2018 there was a settlement of $1.5 million for certain fees. The settlement is still s...

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AP Eagers and AHG merger gets ACCC green light

AP Eagers and AHG merger gets ACCC green light

The proposed merger of two of Australia's largest automotive dealers has been conditionally approved by the Australian Competition and Consumer Commission (ACCC) this morning. Combined, AP Eagers (ASX: APE) and Automotive Holdings Group (ASX AHG) will be Australia's largest car dealership business, with a market capitalisation of ...

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