Creso Pharma Trading Halt Due To Police Raid On Sydney Stockbroker EverBlu Capital.. Both Companies Helmed By Same Man

CANNANNEW REPORT

This has been the big financial story this week in Australia and we had wondered why Creso had issued their trading halt message the day before yesterday. It appears that Creso isn’t collateral damage… It is the damage This man plays a leading role in both companies Adam Blumenthal Non-executive chairman and co-founder at ASX-listed Creso Pharma EverBlu executive chairman   We reported at CLR 16 November 2021 Australia – Creso……ASX Trading Halt   The Australian Financial Review has the story A $160 million cannabis products company is at the heart of ASIC’s interest in Sydney stockbroker EverBlu Capital, and associated raids in Sydney and on the Gold Coast. EverBlu executive chairman, Adam Blumenthal, doubles as non-executive chairman and co-founder at ASX-listed Creso Pharma, and is often seen as the market face for the stock. Creso Pharma was set up to develop, register and commercialise pharmaceutical-grade cannabis and hemp-based nutraceutical products and treatments in 2015, and listed on the ASX in 2016. It is the sort of stock that bounces around at the smaller end of the market, at the whim of day-traders and at times online investing forums. It has closed everywhere from 8¢ a share to 15¢ in the past month. Source: Google   Creso stock was sold off heavily on Tuesday afternoon, following Street Talk’s report that EverBlu had been raided. It was the logical target, given EverBlu’s close ties to the company. The ASX stopped Creso shares trading when it was down 9.6 per cent to 12¢ at 3.31pm, Sydney time, because of the quantum of the fall and volume of stock traded. Source: Creso Website There were other raids in connection to the investigation, including on the Gold Coast. The exact nature of the investigation is not known, although ASIC is expected to be keeping an open…

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Source : Creso Pharma Trading Halt Due To Police Raid On Sydney Stockbroker EverBlu Capital.. Both Companies Helmed By Same Man

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