Cann Group is looking to raise another A$20 million to strengthen its extraction, laboratory and manufacturing capabilities and boost working capital.
The funding will take the form of a $10 million placement and a $10 million Share Purchase Plan (SPP). Cann directors have elected to participate in the placement and subscribed for $1,070,000 worth of shares. It was expected to settle on Wednesday (July 28), with the new shares trading the next day.
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