Cann Group’s Major Capital Raise Initiative

Cann Group Ltd. (AU:CAN) has released an update.

Cann Group Limited announces a non-renounceable pro rata entitlement issue aiming to raise approximately $6.25 million by offering about 156 million new shares at 4 cents each, with an additional free option for every three shares acquired. The offer, which is not underwritten, also includes the issuance of 7 million new options to the Lead Manager and is set to close on October 24, 2024. Shareholders have the opportunity to apply for extra shares through the Top Up Offer.

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