Departing Cann Group chairman Doug Rathbone has told shareholders the company is preparing for a “far stronger future” after navigating what he described as “one of the most challenging periods in its history”.
Speaking at the firm’s annual general meeting, Rathbone said that despite the pressures the company has faced, its workforce has demonstrated “resilience, discipline and commitment”.
Such qualities across the organisation “have positioned us for a far stronger future”, he said.
“A key milestone in this journey has been the successful debt restructure completed by our executive team,” Rathbone told the meeting. “This outcome is an outstanding achievement and represents a fundamental step in restoring stability, strengthening our balance sheet and enabling the company to redirect its focus towards strategic growth.
“With this foundation now in place, the company is poised to move forward and deliver significant improvements for both the business and our shareholders. We are already seeing evidence of this momentum.”
In a shareholder presentation at the AGM, chief executive Jenni Pilcher reiterated Cann’s forecast to grow revenue by 50% to A$17 million in FY26.
She said early bulk and flower sales of its in-house Botanitech range are ahead of budget.
Cann Group also flagged the launch of a new brand, Mallee Bloom, aimed at the mid-price and premium market.
Meanwhile, the company confirmed that Mike Ryan will take over as chairman with Rathbone remaining on the board.