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Cann Group ( (AU:CAN) ) has provided an update.
Cann Group Limited has successfully completed a debt restructuring transaction, settling a $15.3 million payout with its major financier, National Australia Bank, and closing loan facilities that previously totaled approximately $70 million. To fund this, the company secured a new $9 million loan and raised an additional $9 million through equity raising. This restructuring significantly strengthens Cann Group’s balance sheet, improves liquidity, and supports its strategic priorities, enhancing its operational performance and long-term value creation for stakeholders.
The most recent analyst rating on (AU:CAN) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Cann Group stock, see the AU:CAN Stock Forecast page.
More about Cann Group
Cann Group Limited is an Australian company focused on enhancing patients’ lives through the development, production, and supply of innovative cannabis medicines. With research facilities and corporate headquarters in Melbourne, it operates a large-scale cultivation and GMP manufacturing facility near Mildura, Victoria. The company supplies a range of dried flower and oil products, active pharmaceutical ingredients, and extracts to customers both in Australia and internationally. Cann Group also owns Satipharm and its patent-protected capsule technology.
YTD Price Performance: -71.79%
Average Trading Volume: 4,319,035
Technical Sentiment Signal: Sell
Current Market Cap: A$12.44M
See more insights into CAN stock on TipRanks’ Stock Analysis page.