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CANN GROUP LIMITED — Capital/Financing Update 2022
May 31, 2022
64603_rns_2022-05-31_85c4e2b5-be3b-4d0a-b3c3-8549bcccbfc6.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
1 June 2022
Cann Group receives second milestone payment from Regional Jobs Fund
1 June 2022 – Cann Group Limited (ASX: CAN) ( Cann or the Company ) announced today that it received the second milestone payment from the Victorian government’s Regional Jobs Fund program. Cann was approved for the fund in 2020 which is worth $1.975m in total. The funds are paid over three milestone periods, with the most recent payment of $0.5m being received today in recognition of Cann meeting the necessary requirements.
The payment has been received in the same week that a media release from the Victorian Premier’s office highlighted the current level of government support being provided to Cann at its Mildura facility. In that release, Victoria’s Member for Northern, Mark Gepp MLC, noted Cann’s contribution to regional employment, saying “This facility is unique to Mildura and is accelerating the future potential of a crucial industry. The medicinal cannabis industry is growing rapidly and Victoria is well placed to compete in the sector.”
Cann’s CEO, Mr Peter Crock said “We are pleased with the progress being made at our Mildura facility and the benefits it is bringing to the Sunraysia region. By December 2022 we expect the facility to provide 40 full-time equivalent jobs and its construction has already brought significant value to local communities.”
Authorised for release by the Board of Directors Cann Group Limited.
For all media enquiries please contact:
Matthew Wright NWR Communications +61 451 896 420 [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 export markets. Cann has established research, cultivation and GMP manufacturing facilities in Melbourne and a state-of-the-art large-scale cultivation and manufacturing facility near Mildura, Victoria. Cann Group’s leading position in plant genetics, breeding, extraction, analysis and production techniques supports its objective to supply high quality, safe medicinal cannabis for a range of diseases and medical conditions. Cann’s product portfolio incorporates its proprietary Satipharm delivery system for cannabinoids.
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