Cann Group Ltd. (AU:CAN) has released an update.
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Cann Group Limited has launched a rights offer to raise approximately $6.25 million by issuing new shares and options to eligible shareholders in Australia and New Zealand. The offer, priced at $0.04 per share, entails one new share for every three held, but will not be extended to shareholders outside these countries due to regulatory and cost considerations. Shareholders not residing in the eligible countries are deemed ‘Ineligible Shareholders’ and have been informed that they will not be able to participate in this offer.
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