Cann Group has completed its refinancing agreement with National Australia Bank (NAB), marking the conclusion of its long-running debt restructure.
Under the A$15.3 million settlement, which cleared more than $54m in NAB debt, the bank released all security, discharged mortgages, and closed all loan facilities with the company.
The deal was first flagged last month.
The firm said the deal forms a “critical step” in its debt restructure, which includes new and extended loans totalling about $14.5m, alongside a $6.5m placement and $2.5m share purchase plan.
The share purchase plan remains open until November 17, offering new shares at the lower of $0.0115 or a 2.5% discount to the average share price over the five trading days before closing, with one free option per share to June 2026 and a second to 2028.
Bioxyne
Bioxyne subsidiary Breathe Life Sciences has released GMP-certified MDMA capsules for supply to clinical trials in Victoria and authorised psychiatrists in Queensland.
The capsules, known as BLSMD40, are designed for treatment-resistant post-traumatic stress disorder (PTSD) and supplied under Australia’s Authorised Prescriber (AP) pathway.
Initial purchase orders cover more than 400 patient doses, and the firm said the fulfilment positions it at the “forefront of innovative mental health treatments in Australia.”
Bioxyne said about 12% of Australians experience PTSD during their lifetime, with the global psychedelic medicines market forecast to reach $14 billion by 2032 amid growing acceptance of assisted-therapy treatments.
“By leveraging Bioxyne’s manufacturing capabilities the mental health sector in Australia can now source high-quality, Australian-made, GMP-compliant medication for patients suffering from PTSD,” the firm said.