Cann Group Limited (ASX: CAN) announced that the National Australia Bank (NAB) has deferred its quarterly interest payment and facility fee of approximately AU$0.9 million, originally due on 22 November 2024, to a mutually agreed future date. The bank is also considering deferring the next two quarterly payments and confirmed it will not call upon the loan balances through 29 September 2025. This deferment enables Cann Group to focus on achieving key milestones of EBITDA and cash flow positivity.
The redirected funds will support growth initiatives, including expanding product offerings like Botanitech flower and vape ranges, entering export markets for bulk dried flower sales, optimizing production costs for oil products, and meeting customer demand through efficient product releases and shipping. These measures underline Cann Group’s commitment to scaling its operations and driving revenue growth effectively while ensuring financial stability.
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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.
