AI assistant
CANN GROUP LIMITED — Capital/Financing Update 2022
Oct 23, 2022
64603_rns_2022-10-23_e7e941ce-2191-4872-9908-52dfab3be558.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [585 x 60] intentionally omitted <==
ASX ANNOUNCEMENT
24 October 2022
Cann receives $4.348 million R&D tax rebate
24 October 2022 – Cann Group Limited (ASX: CAN) ( Cann or the Company ) is pleased to announce it has received a $4.348 million R&D Tax Incentive Rebate for the 2022 financial year.
The rebate relates to eligible R&D activities conducted by Cann, including its in-house research and those activities conducted through its strategic partnerships with key research partners.
The Australian Government’s R&D Tax Incentive program provides companies with a tax offset for eligible R&D activities. The funds received will be reinvested into the continued development of Cann’s end-to-end capabilities of cultivating and manufacturing GMP grade medicinal cannabis products.
Cann’s CEO, Peter Crock, said “We continue to make strategic investments in scientific research and development, such as our Phase III clinical trial and accelerated plant breeding program. The R&D tax incentive program is a great enabler of this work, which directly benefits both patients and our shareholders.”
Authorised for release by the Board of Directors, Cann Group Limited. For all media enquiries please contact:
Rhys Cohen Senior Corporate Communications Manager +61 449 679 095 [email protected]
For all other information please contact:
Peter Crock Deborah Ambrosini CEO CFO Cann Group Limited Cann Group Limited +61 3 9095 7088 +61 3 9095 7088 [email protected] [email protected]
About Cann Group
Cann Group Limited (ABN 25 603 949 739) is building a world-class business focused on breeding, cultivating, manufacturing and supplying medicinal cannabis for sale and use within Australia and for approved overseas export markets. Cann also owns Satipharm, a Europe-based business exclusively licensed to manufacture, develop and market the proprietary Gelpell delivery system for cannabinoids. Cann has established research and cultivation facilities in Melbourne and is developing a state-of-the-art cultivation and manufacturing facility near Mildura, Victoria. Cann Group has established a leading position in plant genetics, breeding, extraction, analysis and production techniques required to facilitate the supply of medicinal cannabis for a range of diseases and medical conditions. The Company is commercialising a range of imported and locally sourced and manufactured medicinal cannabis products.
Learn more at: www.canngrouplimited.com | www.satipharm.com
Cann Group Limited ACN 603 949 739 4 Research Avenue, Bundoora, VIC 3083 Australia Ph: +61 3 9095 7088