Cann Group Ltd. ( (AU:CAN) ) has issued an update.
Cann Group Limited has announced a formal agreement for a $750,000 drawdown on its convertible note facility with Obsidian Global GP, LCC. This drawdown will occur in two stages, with the first $150,000 expected by the end of February 2025 and the remaining $600,000 following the lodgement of an applicable prospectus. This financial move is likely to impact the company’s operations by providing additional capital, potentially enhancing its market position and benefiting stakeholders.
More about Cann Group Ltd.
Cann Group Limited is an Australian company focused on enhancing patients’ lives through the development, production, and supply of innovative cannabis medicines. The company operates research facilities and a large-scale cultivation and GMP manufacturing facility in Victoria, Australia. Cann Group offers a variety of dried flower and oil products, active pharmaceutical ingredients, and extracts to both domestic and international markets. Additionally, the company owns Satipharm and its patent-protected capsule technology.
YTD Price Performance: 70.0%
Average Trading Volume: 2,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.99M
See more data about CAN stock on TipRanks’ Stock Analysis page.