Cann Group Announces Capital Raising Initiative

Cann Group Ltd. (AU:CAN) has released an update.

Cann Group Limited is aiming to raise $6.25 million through a non-renounceable entitlement offer, offering existing shareholders discounted new shares and additional purchase options to fund increased production at their Mildura facility. The offer includes a 42% discounted issue price and the opportunity for shareholders to subscribe for extra shares in the event of a shortfall. Capital raised will also support the expansion of Cann’s Botanitech product line and cover working capital and offer costs.

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