Montu's equity raise is set to be oversubscribed following a massive Australian doctor network announcement.
Australian investors have reacted positively to Montu's equity raise, which is expected to be oversubscribed, following the recent announcement its doctor network can service more than half a million patients wishing to access medicinal cannabis. The nationwide doctor network includes Australia's leading health providers, such as IPN, Healius, SmartClinics, MyHealth, MyCLinic, and Ochre Health. The share offer is being managed by Birchal; Australia's most reputable equity funding platform.
Montu is In the final moments of its expression of interest phase for investors wishing to own shares in the company. The cash injection will fund further expansion plans that will capitalise on Australia and New Zealand's $1.7 billion cannabis industry.
The expression of interest phase, which is closing on 12 October, will give investors a pole position to buy shares during the Private Offering stage.
The expected oversubscription resulted from the nationwide media coverage the company received earlier this month.
Channel 7 News reported on the company during its prime time bulletins across the country as well as feature articles on news.com.au, The Daily Telegraph, The Herald Sun, The Courier Mail, The Advertiser, The Mercury, NT News, Perth Now and many more.
Montu unveiled its solution to solve the country's biggest medical cannabis hurdle – easy access to medical cannabis via a nationwide network of doctors that can service more than 500,000 Australians – regardless of their location.
"Right now there are patients in Australia with a range of medical conditions that would be perfect candidates for medical cannabis, however, it's still very difficult for them to gain access," said Christopher Strauch, Managing Director of Montu.
"It's difficult because only 5% of Australian doctors are prescribing cannabis medication and of those, on average only 10 patients from that doctor's practice of 1,000 patients are receiving cannabis treatment. And when you consider 77% of Australians have a preferred GP they rarely switch from, if that GP is unfamiliar with the type of medical cannabis treatments and the conditions they cover, or even worse – dispense out of date opinions, a patient's access can be stopped dead in the water.
"These GP roadblocks are definitely out of sync with the average person, with 84% of Australians supporting medicinal legalisation. We help doctors to become confident prescribers by offering them a suite of services. We provide practical education, access to high-quality products, and an online prescribing platform to ensure they have a seamless experience.
As a result of the company's media coverage, Montu's website fielded more inquiries in the past four weeks than it ever has since its inception. Revenue of the company is growing at 40% each month, and with that, the doctor network is expected to grow to allow for more patients to be treated."
Montu will use its capital raise to add more doctors to its network, accelerate patient awareness, and increase inventory to serve the growing demand.
Investors wishing to express interest in buying shares need to register before October 12th, to be invited to the private offering, ahead of the public sale. Shares will be allocated on a first come first served basis."
For more information, visit: montu.com.au
To invest in Montu, go to the company's Equity Funding page at Birchal. Please visit https://www.birchal.com/company/montu
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