Cann Group Ltd. (AU:CAN) has released an update.
Cann Group Limited, an Australian cannabis company, has undergone a significant restructuring phase including management changes, with Jenni Pilcher stepping in as Interim CEO to drive profitability. The company secured an additional $5 million in debt funding and reduced operational costs by over $2 million annually, while repositioning its strategy to focus on high-quality, GMP medical cannabis products. Despite a trading suspension by the ASX following a review of the company’s financial stability, Cann Group is working towards a viable, profitable future with clear revenue strategies and cost control measures.
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