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Cann Group ( (AU:CAN) ) has shared an announcement.
Cann Group Limited has successfully raised $2.5 million through a Share Purchase Plan and Shortfall Placement, as part of a larger capital raising initiative that includes a $6.5 million institutional placement. The total funds of $9 million will be used to repay obligations to National Australia Bank, marking a significant milestone in the company’s debt restructuring program. This financial move is designed to strengthen Cann’s balance sheet, support financial sustainability, and enable the company to focus on its operational and commercial priorities.
More about Cann Group
Cann Group Limited is a company focused on enhancing patients’ lives through the development, production, and supply of innovative cannabis medicines. With research facilities and corporate headquarters in Melbourne, the company operates a large-scale cultivation and GMP manufacturing facility near Mildura, Victoria. Cann Group offers a variety of dried flower and oil products, active pharmaceutical ingredients, and extracts to customers in Australia and globally. The company also owns Satipharm and its patent-protected capsule technology.
Average Trading Volume: 3,594,212
Technical Sentiment Signal: Sell
Current Market Cap: A$9.13M
See more data about CAN stock on TipRanks’ Stock Analysis page.