PAC Partners appointed to Cann Groupâs $20 million raising
Save
Share
Listed medical cannabis company Cann Group is raising $20 million to strengthen its extraction, laboratory and manufacturing capabilities, plus provide working capital.
The funding will take the form of a $10 million placement for institutional investors and a $10 million share purchase plan for retain investors.
Cann Group is raising $20 million.Â
AP
The $104.2 million company has appointed PAC Partners to lead the raising.
PAC Partners is calling for bids by 9am on Friday, but expects the book could close early.
The capital raise will support Cannâs activities as it completes the construction of its Mildura facility - the third for the company - which is slated for completion by the end of 2021.
TruckEast technician David Keeling is to retire from the Scania dealership after 50 years
commercialmotor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from commercialmotor.com Daily Mail and Mail on Sunday newspapers.
Cann Group recovers $1 2m in stolen funds after cyber fraud
itnews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from itnews.com.au Daily Mail and Mail on Sunday newspapers.
Sponsored: ContiPressureCheck keeps Kane Group moving
commercialmotor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from commercialmotor.com Daily Mail and Mail on Sunday newspapers.
Blazing it? How the top ASX cannabis shares performed in FY21
How did ASX cannabis shares fare in FY21?
Sebastian Bowen has been a Motley Fool contributor since late 2018.
Sebastian found his passion for writing and educating others about shares and all things finance after completing his studies in political, economic and social science and enjoys bringing this passion to life at the Fool. His investment philosophy is a simple one - buying high-quality companies at prices that make sense. When he’s not researching his next investment at all hours of the morning, Sebastian enjoys classic movies and likes to unwind with a good book, newspaper or record.