***BREAKING NEWS – Investment Update***
Currently in its private round on Birchal (birchal.com/company/montu), the offer went live at 11am on Tuesday 16th November, and was instantly met by keen investors
- Montu raised $1 million in 13m 46s – currently the second fastest in Australian history
- Montu raised $2 million in 5H 43m 48s – currently the second fastest in Australian history
- To put these new records in to perspective, Montu's equity crowdfunding raise in 2020 broke the Australian record by reaching $1 million 36 hours, and was the fastest to reach $2million in 13 days. 12 Months later and people are keener than ever.
- People who invested in the 2020 raise have seen their shares increase 5-fold
Montu's share offer will go public on Thursday at midday, but shares are expected to be exhausted by then.
Company wows investors with over 1,000% increase and $14million revenue run-rate
One of Australia's leading prescribers of medical cannabis, which experienced a 10-fold increase in business over the past 12 months, is gearing up to better its record breaking 2020 equity crowdfunding raise with news it has 50% more subscribers during its expression of interest phase.
In 2020 the company was the fastest in Australia to ever reach $1million (36 hours) and then $2million (13 days) – and did so with over 1,200 people expressing interest. Montu's follow-on round already has 1,850 people expressing interest in the equity raise, with over 400 existing investors looking to invest again after seeing their shares increase 5-fold. With almost $10million in expressed interest, and only $3.5million in shares available to be allocated, the investment round is oversubscribed. The share offer is available via the Birchal crowdfunding platform.
What a difference a year makes – I'm positive our investors will be even faster to invest this time because we have real runs on the board – with a 10-fold increase in business and turning the business profitable. Christopher Strauch, Managing Director of Montu
"Our stellar 12-month growth has come as a result of building a recognised and leading brand and setting new standards in cannabis care. Montu's business has grown by over 1,000% and reached a $14million revenue run-rate. In 2020 we offered $2million in share equity and closed out in record time.
This year we have $3.5million in shares available at a price of $0.70 per share. I am confident investors will look favourably on our unique business model that has proven to be highly scalable in such a short period of time."
Montu is now the benchmark for easy medical cannabis access in Australia, allowing a seamless patient journey from end-to-end. The company's integrated platform provides patients with immediate access to highly qualified prescribers, from the comfort of their home.
In a market where only 5% of doctors prescribe cannabis, the increased adoption of tele-health, home-delivery of medications and electronic scripts, has boosted Montu's strong growth.
"Telehealth has been a game changer for the many Australians with conditions that can be treated with medical cannabis," said Christopher Strauch. "Prior to telehealth, our company was already a pioneer in helping patients gain easy access via a nationwide network of doctors that could service half a million Australians. With telehealth – we can now service every Australian."
Montu has built an integrated cannabis ecosystem, which connects more than 15,000 Australians every year to highly qualified doctors via their alternaleafTM telehealth platform. Supported by a patient care team of clinically trained nurses, patients are guided throughout the process, from online booking, to tele-consultation, product selection and dispensing of medication.
"Before Montu, it was difficult for patients to speak to a doctor about medical cannabis. Stigma was a big problem and, as you would expect, doctor's experience was limited. We have trained over 1,000 Australian doctors on medical cannabis, and provided them with education and support. This has seen doctors become more confident prescribers."
"Today, our team of doctors are some of the most experienced in prescribing medical cannabis in the country, and in turn we have given them the infrastructure to shine. Their wealth of real-life Australian patient experience will benefit those who want the very best advice. We manage the medical cannabis supply chain vertically from doctor education, clinical care, product supply and distribution, to dispensing of medication."
This approach has allowed Montu to provide patients with a holistic and streamlined experience end-to-end, building a loyal patient base that prefers and recommends their solution. And patients seem to appreciate the service – with over 500 5-star ratings, alternaleafTM has become the most and best rated cannabis platform in Australia.
Proceeds from this equity raise will be used to solidify the company's leading position, further invest in its technological infrastructure and grow patient awareness. Everyday Australians can buy shares in the company for as little as $99, ahead of Australia and New Zealand's transformational years, which are predicted to reach $1.7billion in market size by 2023.
"Our company's trajectory for growth is massive, with revenues growing more than 250% last quarter alone," said Christopher Strauch. "We are the fastest growing medical cannabis company in Australia and have a highly scalable business model. The cannabis market is evolving at a rapid pace, with growing patient awareness, an improving regulatory environment, and increasing real-world evidence of patients that have benefited from medical cannabis. We're already managing 15,000+ patient consultations per year and prescribe 50,000+ units of medical cannabis annually – and that is just scratching the surface of Australia's potential.
TO INVEST: birchal.com/company/montu
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