- Cann Global (CGB) has entered a trading halt ahead of an upcoming capital raise
- The company will remain in the halt until the earlier of December 9 or when the announcement is made
- In October, Cann Global announced it will launch uniquely-formulated cannabis products into Australia through its joint venture with Canntab Therapeutics
- These products contain a mixture of tetrahydrocannabinol and cannabidiol formulations
- Furthermore, the company confirmed it had received an import permit to allow distribution into Australia for the first time
- Shares in Cann Global have been trading at 0.6 cents since December 3
Cann Global (CGB) has entered a trading halt in ahead of an upcoming capital raise.
The company will remain in the trading halt until the earlier of December 9 or when the announcement is made.
Cann Global is yet to announce how much it is aiming to raise or what it will use the funds for.
In October, Cann Global announced it will be launching uniquely-formulated cannabis products into Australia through its joint venture with Canntab Therapeutics.
These products include two tetrahydrocannabinol (THC) products, two cannabidiol (CBD)-only, and two THC/CBD products.
Furthermore, the company confirmed it had received an import permit to allow distribution into Australia for the first time.
Cann Global last undertook a capital raise in February when it agreed to issue 34 million shares to institutional and sophisticated investors to raise $418,880.
The company then applied the funds to its projects and working capital.
Shares in Cann Global have been trading at 0.6 cents since December 3.