Cann Group

Cann Group announced today that it has executed a sale and purchase agreement for $1.7 million and an extension of its NAB working capital facility to 31 March 2025.

With the increasing presence of medicinal cannabis imports into the local market, Australian cultivators are calling for greater support to promote homegrown products. Cann Group’s Cultivation Manager, Angus Murray, said Australian grown cannabis products are now at a level that is equal to, if not superior to, those that are arriving from overseas. “Until recently, the industry faced challenges with local production and prestige. Now, with capacity on Australian shores, medicinal cannabis businesses must assess if imported material surpasses locally cultivated cannabis in niche fulfilment, quality, diversity and sustainability. “Mapping the value stream, domestic cropping wins every time – it reduces supply-chain complexities, and fewer shipping disruptions give local producers a clear edge. “Beyond just national pride, supporting good-quality local growers contributes to economic output, job creation, and transferable skills in the broader biotech, high-tech agriculture and pharmaceutical industry.”

Cann Group recognises Medicinal Cannabis Awareness Week, which begins today.   This initiative, which was inaugurated by the Australian Medicinal Cannabis Association last year, unites experts, patients and the broader community to further educate and gain a greater appreciation of the potential of the medicine to improve health outcomes.

Cann Group is pleased to invite shareholders, investors and interested parties to an investor update webinar and Q&A with CEO, Peter Koetsier. The webinar will be held on Wednesday, 28 February 2024 at 11:00 am (Melbourne time). For the Q&A session, investors are invited to send questions prior to the webinar, to [email protected] Register for the webinar at the following link: https://lnkd.in/g2BpDtW3 After registering, you will receive a confirmation email containing information about joining the webinar as well as dial-in details for those that would prefer to join by phone. A recording will be available at the above link shortly after the conclusion of the live session.

Cann Group is proud to be a partner of ACannabis Conference 2024.    We will be hosting the Network Lounge across the three-day event, so please come, say hello and have a chat with some of the Company's representatives in attendance.    Join us at Crown Promenade in Melbourne on March 12 and 13 for the must-attend event for the medicinal cannabis industry, with keynote talks, a networking and exhibition hall.    Register today at http://acannabis.com.au

“I’m lucky that I’m taking on this role as our facility reaches its full potential.” Introducing Michael Long, our new General Manager - Mildura.

While many enjoyed a Christmas break over the past few weeks, our Mildura staff worked through the period and continued to make progress at our state-of-the-art facility.   In the past fortnight, we reached capacity on two counts, with our glasshouse fully planted and our harvesting rate seeing the team achieve three full harvests in the past 14 days. Production across this fortnight has set the Mildura site on track to produce 12.5 tonnes this calendar year.   We have also now become a complete hang-dry site, with every crop we harvest in January and into the future being hang-dried.   A very positive start to the new year for our Mildura team.

Tony Di Pietro has been appointed to the role of Chief Financial Officer and joint Company Secretary.

It has been a busy year for Cann Group, filled with multiple achievements that are set to catapult the Company into an exciting 2024. Take a look at our timeline that reflects on the key moments this year.

Cann Group is now a matter of months away from achieving its long-held objective of 12.5 tonnes of production at the Mildura facility.    Take a look at the graph below which outlines the monthly targets that will see the Company reach the ultimate goal by March next year.    And yes, that is a yield of 732.5kg in November, 110% of our target.