Market Alert: ASX200 at Critical Support – Reversal or Further Fall?
Cann Group Limited (ASX: CAN), an Australian medicinal cannabis company, has secured an AU$750,000 funding boost through a second drawdown from its convertible note facility with Obsidian Global GP, LLC. The drawdown was split into two components: an AU$150,000 First Special Purchase and an AU$600,000 Second Special Purchase. In return, Cann issued a total of 480,810 notes, nearly 9.7 million options, and 7 million placement shares. The Second Special Purchase was subject to a cleansing prospectus, which closed on 20 March 2025, with the securities being issued shortly after. Cann Group operates advanced cultivation and GMP-certified manufacturing facilities in Victoria and supplies cannabis-based products, including dried flowers, oils, and pharmaceutical ingredients, both domestically and internationally. It also owns Satipharm and its proprietary capsule technology. This funding strengthens Cann’s operational footing as it continues to expand in the global medicinal cannabis market.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
