Cann Group has gone into a voluntary trading halt pending the release of an announcement regarding a capital raise.
Last month, the company announced it had doubled revenue to just over A$4 million in Q1 FY24, but it was asked by the ASX to explain how it intended to fund the business given concerns around its cash position.
UPDATE (November 21, 2023): Cann Group inks deal to raise A$2m with more funds on the horizon.