Junior Australian explorer Capital Mining has announced it is pulling out of medical cannabis investment through subsidiary Capital Cannabis Ltd (CCL), not to be confused with Californian equity company Cannabis Capital LLC.
With copper, base metal and gold projects in New South Wales and Western Australia, as well as lithium projects in Ireland through subsidiary Wolfhound, Capital has decided to maintain a ‘clear focus’ on its exploration ventures.
Cameron McDonald-Stuart, director of CCL, has tendered his resignation for personal reasons, according to an ASX report released today by Capital Mining chairman Robert Crossman.
Capital Mining had undergone a voluntary suspension for three months pending an update on its decisions regarding CCL. A further announcement is expected on November 27.