Reinstatement Update
Sydney, Aug 9, 2019 AEST (ABN Newswire) - Cann Global Limited (
ASX:CGB) provides the following update in connection with the reinstatement to quotation of the Company's fully paid Ordinary Shares.
Upon release of this information to the market, and subject to the receipt by ASX of certain original documents being couriered from overseas, CGB anticipates that its securities will be reinstated to trading on ASX on Friday 16 August 2019.
Close of Offers and Issue of Securities
CGB refers to the Company's replacement prospectus dated 7 June 2019 (Prospectus) and the offers detailed therein (Offers). CGB confirms that the Public Offer for 170,000,000 shares to raise $5,950,000 closed fully subscribed, all conditions to the Public Offer have been satisfied, the Offers have closed and all issues of securities under the Offers have been completed, as set out in the Company's ASX Appendix 3B lodged 19 July 2019.
Completion of Agreements
CGB confirms that all conditions precedent to the agreements between the Company and the vendors of MCL, T12 and HHC have been satisfied and the agreements have been completed.
About Cann Global Limited
Cann Global Limited's (ASX:CGB) primary focus is to legally grow and cultivate hemp to research and develop medicinal cannabis products to service an increasing demand in the Australian and global markets.
Cann Global Ltd has a 100% shareholding in Medical Cannabis Ltd (MCL) and a management agreement with Medcan Australia Pty Ltd (Medcan) which operate a business cultivating, researching, developing and soon to be distributing medicinal cannabis products in Australia. Our Medical Cannabis division has been a key value driver for the Group.
The Group also retains an interest in its existing Bauxite Projects.
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