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CANN GROUP LIMITED — Capital/Financing Update 2023
Sep 19, 2023
64603_rns_2023-09-19_73331a29-a689-45e9-93bd-7d48ae80c5e5.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
20 September 2023
Cann signs variation agreement with key customer for additional supply of cannabis flower products to 31 December 2023
• Cann to supply additional cannabis flower products to Levin Health to 31 December 2023
20 September 2023 – Cann Group Limited (ASX: CAN) ( Cann or the Company ) is pleased to announce that it has varied the agreement announced on 20 June 2023, with Levin Health Pty Ltd (“ Levin ”). The most recent variation will now see Cann supply, and Levin commit to purchasing, additional flower products to meet Levin’s production schedule to the value of approximately $1.58 million from 1 September 2023 – 31 December 2023 (“ supply period ”). Cann will supply a total of $2.29 million in flower products to Levin for the period 1 July 2023 to 31 December 2023.
Cann will also supply oil products to the value of $0.85 million under the agreement to 31 December 2023.
Cann CEO Peter Koetsier said “Cann Group is proud to partner with Levin Health and to extend our agreement, which represents a key platform for strong success for both companies. Securing longer-term supply agreements with our preferred partners is a critical component of the Cann Group strategy for the future.
Cann recognises the importance of establishing stable and reliable supply chains using our TGO 93 compliant cultivation and production facility to meet the evolving demands of our customers. Through this, we believe we can enhance our competitive advantage and position ourselves as a trusted and dependable partner in the industry.”
Authorised for release by Deborah Ambrosini, Company Secretary, Cann Group Limited.
For all other information please contact:
Peter Koetsier CEO Deborah Ambrosini Cann Group Limited CFO and Company Secretary +61 3 9095 7088 Cann Group Limited [email protected] +61 3 9095 7088 [email protected]
About Cann Group
Cann Group Limited (ABN 25 603 949 739) is enhancing patients’ lives by developing, producing, and supplying innovative cannabis medicines. The Company has built world-class research, cultivation and GMP manufacturing facilities in Melbourne, and a state-of-the-art large-scale cultivation and GMP manufacturing facility near Mildura, Victoria. Cann Group supplies a range of dried flower and oil products, as well as active pharmaceutical ingredients and extracts, to customers in Australia and around the world. Cann Group also owns Satipharm and its patentprotected capsule technology.
Learn more at: www.canngrouplimited.com | www.satipharm.com
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