Cann Group has raised A$4.46 million from shareholders in its latest capital raise – just over a third of its target – with the company now set to offer shortfall shares to sophisticated and professional investors.
The results of the capital raise came as Cann reported it had cash in bank of just $764,000 as of June 30. Unused financing of $4.8m bolstered its position but still only enough for 1.1 quarters of trading.
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