New Risk • Mar 04
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (22% average weekly change). High level of non-cash earnings (32% accrual ratio). Shareholders have been substantially diluted in the past year (191% increase in shares outstanding). Market cap is less than US$10m (AU$11.1m market cap, or US$7.86m). Announcement • Dec 05
Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 6.5 million. Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 6.5 million.
Security Name: Ordinay Shares
Security Type: Common Stock
Securities Offered: 120,395,238
Price\Range: AUD 0.0115
Discount Per Security: AUD 0.00069
Security Name: Ordinay Shares
Security Type: Common Stock
Securities Offered: 444,822,153
Price\Range: AUD 0.0115
Discount Per Security: AUD 0.00069
Transaction Features: Subsequent Direct Listing Announcement • Oct 29
Cann Group Limited, Annual General Meeting, Nov 28, 2025 Cann Group Limited, Annual General Meeting, Nov 28, 2025. Location: hwl ebsworth lawyers, level 8, 447 collins street, melbourne, vic 3000, melbourne Australia Reported Earnings • Sep 30
Full year 2025 earnings released: AU$0.042 loss per share (vs AU$0.12 loss in FY 2024) Full year 2025 results: AU$0.042 loss per share (improved from AU$0.12 loss in FY 2024). Revenue: AU$13.3m (down 28% from FY 2024). Net loss: AU$22.3m (loss narrowed 56% from FY 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. New Risk • Sep 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 24% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$9.8m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-AU$2.8m). Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Market cap is less than US$10m (AU$11.9m market cap, or US$7.87m). New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$9.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$9.8m free cash flow). Negative equity (-AU$2.8m). Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Market cap is less than US$10m (AU$9.12m market cap, or US$5.97m). Minor Risk Share price has been volatile over the past 3 months (17% average weekly change). Reported Earnings • Aug 31
Full year 2025 earnings released: AU$0.042 loss per share (vs AU$0.12 loss in FY 2024) Full year 2025 results: AU$0.042 loss per share (improved from AU$0.12 loss in FY 2024). Revenue: AU$13.3m (down 28% from FY 2024). Net loss: AU$22.3m (loss narrowed 56% from FY 2024). New Risk • Apr 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Market cap is less than US$10m (AU$9.65m market cap, or US$6.17m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Apr 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 23% per year over the past 5 years. Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Market cap is less than US$10m (AU$10.2m market cap, or US$6.58m). Announcement • Apr 14
Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.711902 million. Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 0.711902 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 41,876,573
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Apr 08
Cann Group Limited has filed a Follow-on Equity Offering in the amount of AUD 0.711902 million. Cann Group Limited has filed a Follow-on Equity Offering in the amount of AUD 0.711902 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 41,876,573
Price\Range: AUD 0.017
Discount Per Security: AUD 0.00102
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 24% per year over the past 5 years. Market cap is less than US$10m (AU$13.4m market cap, or US$8.56m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Mar 12
Cann Group Limited has filed a Follow-on Equity Offering in the amount of AUD 0.105 million. Cann Group Limited has filed a Follow-on Equity Offering in the amount of AUD 0.105 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,000,000
Price\Range: AUD 0.015
Transaction Features: Subsequent Direct Listing New Risk • Feb 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$16.1m (US$9.89m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 24% per year over the past 5 years. Market cap is less than US$10m (AU$16.1m market cap, or US$9.89m). Minor Risk Shareholders have been diluted in the past year (23% increase in shares outstanding). Announcement • Dec 06
Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 2.255994 million. Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 2.255994 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,724,489
Price\Range: AUD 0.04
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,675,343
Price\Range: AUD 0.04
Security Features: Attached Options
Transaction Features: Rights Offering Announcement • Oct 09
Cann Group Limited has filed a Follow-on Equity Offering in the amount of AUD 6.252486 million. Cann Group Limited has filed a Follow-on Equity Offering in the amount of AUD 6.252486 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 156,312,161
Price\Range: AUD 0.04
Security Features: Attached Options
Transaction Features: Rights Offering Announcement • Sep 03
Cann Group Limited, Annual General Meeting, Oct 28, 2024 Cann Group Limited, Annual General Meeting, Oct 28, 2024. Reported Earnings • Aug 31
Full year 2024 earnings released: AU$0.12 loss per share (vs AU$0.091 loss in FY 2023) Full year 2024 results: AU$0.12 loss per share (further deteriorated from AU$0.091 loss in FY 2023). Revenue: AU$19.1m (down 7.6% from FY 2023). Net loss: AU$51.2m (loss widened 52% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 49% per year, which means it is performing significantly worse than earnings. Announcement • Jul 24
Cann Group Limited to Report Fiscal Year 2024 Results on Aug 30, 2024 Cann Group Limited announced that they will report fiscal year 2024 results on Aug 30, 2024 Board Change • Jun 05
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Doug Rathbone was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Mar 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$20m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$20m free cash flow). Earnings have declined by 24% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (AU$27.1m market cap, or US$17.6m). Announcement • Aug 29
Cann Group Limited, Annual General Meeting, Oct 26, 2023 Cann Group Limited, Annual General Meeting, Oct 26, 2023, at 10:00 AUS Eastern Standard Time. Reported Earnings • Aug 29
Full year 2023 earnings released: AU$0.091 loss per share (vs AU$0.079 loss in FY 2022) Full year 2023 results: AU$0.091 loss per share (further deteriorated from AU$0.079 loss in FY 2022). Revenue: AU$21.7m (up 93% from FY 2022). Net loss: AU$33.8m (loss widened 28% from FY 2022). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. New Risk • Aug 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$35m free cash flow). Earnings have declined by 35% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (AU$53.3m market cap, or US$34.2m). Announcement • Jul 26
Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 11.658446 million. Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 11.658446 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 97,153,716
Price\Range: AUD 0.12
Discount Per Security: AUD 0.0024
Security Features: Attached Options
Transaction Features: Rights Offering Announcement • Jul 06
Cann Group Limited Provides Revenue Guidance for the Year Ended June 30, 2023 Cann Group Limited provided revenue guidance for the year ended June 30, 2023. Cann expects to report unaudited product sales revenue of approximately $13.5 million, before accounting for services, for the 12 months ending 30 June 2023 representing a 111% increase on FY22 revenue ($6.4 million). Strong market demand saw revenue from the sale of dried flower products increase by approximately 500% on FY22 and is the base for continued growth as the company scales up production. This improvement was driven by the domestic market, with the strong sales momentum supported by new clients entering into supply agreements, and several existing clients with repeat orders. Customer acquisition has been strengthened by Cann's ability to supply consistent quality, GMP product from the flagship facility in Mildura, achieved through state- of-the-art cultivation and manufacturing processes. FY23 production output at Mildura was 2.2 tonnes. In May 2023, Cann planted the largest crop in the Company's history, representing 8 tons annualised yield. This crop will be harvested in July 2023. Reported Earnings • Feb 25
First half 2023 earnings released: AU$0.053 loss per share (vs AU$0.028 loss in 1H 2022) First half 2023 results: AU$0.053 loss per share (further deteriorated from AU$0.028 loss in 1H 2022). Net loss: AU$18.8m (loss widened 128% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • Jan 20
Cann Group Limited Announces Preliminary Results from Their Phase 3 Clinical Trail Cann Group Limited announced preliminary results from their Phase 3 clinical trail. Trial compared the efficacy of low dose Satipharm® CBD capsules to placebo in treating sleep disturbances. Three doses of Satipharm® CBD capsules were compared to placebo in a randomised, double-blind, placebo-controlled, multicentre clinical trial that included a total of 257 participants with sleep disturbances. Preliminary view of the analysis of the primary end-points have not shown a statistically superior response compared to placebo. Cann Group expects these trial results will delay submission of the registration application to the Therapeutic Goods Administration (TGA) for this indication. Once the full data set (including the secondary end-points) and report of the clinical trial is delivered to the company, Cann Group will evaluate the data and review its approach for this indication. A market update will be published once that review is complete. Announcement • Jan 10
Cann Group Limited Announces Chief Executive Officer Changes Cann Group Limited announced that Peter Koetsier has been appointed to the role of Chief Executive Officer (CEO) and will commence in the role on January 16, 2023. Mr. Koetsier will replace Peter Crock, who was appointed on April 19, 2016 and announced on October 24, 2022 that he would be stepping down as CEO of the Company. Mr. Koetsier brings to Cann more than 30 years of general management, marketing and commercial leadership roles within global pharmaceutical companies. He has most recently been Head of Asia Pacific for French biopharmaceutical company, Ipsen, where he developed and led the implementation of a successful growth strategy which included the commercial launch of new brands. Previous roles include General Manager of Australia/New Zealand (Ipsen) and senior management positions with Astra/Zeneca, UK, and Bristol-Myers Squibb in Europe. Mr. Koetsier has a bachelor's degree in science (pharmacology, immunology) and a diploma in education (science, biology) from Monash University and is a graduate of the INSEAD CEDEP General Management Program. Announcement • Nov 21
Cann Group Limited Announces Final Clinical Trial Participant Completes Study Cann Group Limited announced that the final participant enrolled into Cann Group's Phase III low-dose CBD clinical trial has attended their last study visit, and data entry for the trial has been completed. A total of 257 participants have completed the trial, exceeding the Company's initial target of 212. Study results are anticipated to be finalised early in the 2023 calendar year, shortly after which Cann expects to submit its formal drug registration application to the Therapeutic Goods Administration (TGA). The clinical trial is investigating the safety and efficacy of Cann's proprietary Satipharm CBD capsules for treating sleep disturbance. This forms part of the Company's strategy to register a low-dose CBD medicine for over-the-counter sale, making it available to consumers at pharmacies without requiring a prescription. On 6 April 2022 global healthcare company, GSK Consumer Healthcare (trading as Haleon), secured an exclusive evaluation and option agreement with Cann for the marketing and sale of over-the-counter Satipharm CBD capsules for Australia and potentially other markets globally. The parties subsequently agreed to and signed a non-binding commercial term sheet on 7 November 2022. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non-Executive Director Doug Rathbone was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 28
Cann Group Limited Appoints Julian John Chick as Director Cann Group Limited appointed Julian John Chick as Director effective from October 26, 2022. Announcement • Oct 24
Cann Group Limited Announces Resignation of Peter Crock as CEO Cann Group Limited announced that Chief Executive Officer, Peter Crock, has given notice of his resignation from the position as CEO. Mr. Crock will remain in the CEO role until a new CEO has been appointed. The Board will be initiating a search for a CEO immediately. Mr. Crock was appointed to the position of CEO prior to Cann Group being listed on the ASX in May of 2017. Announcement • Oct 11
Cann Group Limited Meets its Enrolment Target for Phase III Clinical Trial of Low-Dose Satipharm CBD Capsules for Short-Term Sleep Disturbance Cann Group Limited announced that it has met its enrolment target for the Company's Phase III clinical trial of low-dose Satipharm CBD capsules for short-term sleep disturbance. In excess of 212 patients have been enrolled into the clinical trial, which commenced recruitment in February 2022 at trial centres in both Australia and New Zealand. The Company, in conjunction with its trial investigators, is now undertaking a follow-up analysis to determine if the participant numbers are adequate to detect statistical significance and provide a definitive study outcome. The Company anticipates that a favourable trial result will support the registration of Satipharm CBD capsules as a Schedule 3 over-the-counter medicine in Australia, making it available to patients without requiring a prescription. Cann Group will update the market with the results of the trial once they have been completed and analysed. Announcement • Oct 03
Cann Group Limited Announces Executive Changes Cann Group Limited announced that Ms Geraldine Farrell has resigned as Company Secretary effective 25 October 2022, after the Company's Annual General Meeting has concluded on that date. Cann also announced that Ms Deborah Ambrosini, the Company's Chief Financial Officer (CFO), will be appointed as Company Secretary following Ms Farrell's departure. Ms Ambrosini was appointed as CFO of Cann on 1 September 2022. In addition to her experience as a CFO in senior finance roles with ASX-listed companies, Ms Ambrosini brings significant experience as a company secretary, most recently as CFO and Company Secretary with Acrux Limited. Announcement • Sep 20
Cann Group Limited Appoints Robert Barnes & Julian Chick to the Board Cann Group Limited announced that Mr. Robert Barnes and Dr. Julian Chick will be appointed to the Board of Directors to fill casual vacancies. Mr. Barnes' appointment will take effect immediately, with Mr. Barnes being eligible for re-election at the Company's upcoming Annual General Meeting (AGM) to be held on 25 October 2022. Dr. Chick's appointment will take effect on 26 October 2022. Mr. Barnes is an experienced senior executive who has delivered extensive leadership and operational outcomes across a wide variety of healthcare industries, including pharmaceutical, nutraceutical, infant formula, consumer, medical devices, and diagnostics. He has an applied science degree in Medical Science, a MBA, and is a Graduate of the Australian Institute of Company Directors. Having worked both globally and in Australia in leading commercial healthcare organisations, he brings substantial and diverse commercial and scientific understanding to the Company. Dr. Chick has over 25 years of experience in the biotechnology and medical technology sectors, as well as in investment banking. He has worked with both public and private companies, bringing a number of technologies through from discovery to market, as well as experience in capital raisings, company restructuring, licensing, business development and M&A transactions. He has a PhD from La Trobe University /Oxford University. Mr. Barnes has held senior executive roles at several pharmaceutical and consumer healthcare entities including Aspen Pharmacare Australia Pty Ltd, Sanofi Australia, and Mayne Group. Mr. Barnes has also served on the board of the peak OTC industry body being Consumer Healthcare Products Australia. He has experience in the medicinal cannabis sector, being a former member of the advisory board to Leafcann Group Pty Ltd. Dr. Chick has held senior executive roles and directorships at several Australian and international life science companies, both listed and private, including Avexa Ltd, Opyl Ltd. and Admedus Ltd. Announcement • Sep 01
Cann Group Limited Announces Resignation of John Sharman as Director Cann Group Limited announced that John Sharman has resigned as a director of the company effective 1 September 2022 due to his other business commitments. Mr. Sharman was appointed to the Board of the Company on 27 April 2021. As part of its ongoing review process, the Board is underway with the identification and appointment of a new director. Announcement • Aug 30
Cann Group Limited, Annual General Meeting, Oct 25, 2022 Cann Group Limited, Annual General Meeting, Oct 25, 2022, at 10:00 AUS Eastern Standard Time. Reported Earnings • Aug 30
Full year 2022 earnings released: AU$0.079 loss per share (vs AU$0.098 loss in FY 2021) Full year 2022 results: AU$0.079 loss per share. Revenue: AU$11.2m (up 32% from FY 2021). Net loss: AU$26.5m (loss widened 5.4% from FY 2021). Announcement • Jun 30
Cann Group Limited Announce Therapeutic Goods Administration Grants Cann GMP License to Manufacture Therapeutic Goods Cann Group Limited announced that the Therapeutic Goods Administration (TGA) has granted Cann a GMP licence to manufacture therapeutic goods which includes GMP testing at its Mildura facility (Mildura GMP Licence). In combination with the licences and permits issued by the Office of Drug Control (ODC) earlier this year, the Mildura GMP Licence enables Cann to manufacture Active Pharmaceutical Ingredients (API) and hard capsules, and to conduct GMP-approved activities at the facility's existing chemistry and microbiology laboratories. This will allow the Company to produce API at the facility, manufacture Satipharm capsules for human therapeutic use, and perform in-house chemical, physical, and microbiological tests to demonstrate that products meet local and overseas regulatory requirements. While manufacturing and testing activities had already commenced at Mildura following thelicences and permits issued by the ODC and the Victorian Department of Health, the Mildura GMP Licence will allow medicinal cannabis products manufactured at Mildura to be made available to patients via the TGA's approved access pathways in Australia and (subject to approvals) for export markets. Announcement • Jun 02
Cann Group Limited Receives Second Payment from Victorian Government's Regional Jobs Fund Program Cann Group Limited announced that it received the second milestone payment from the Victorian government's Regional Jobs Fund program. The company was approved for the fund in 2020 which is worth $1.975 million in total. The funds are paid over three milestone periods, with the most recent payment of $0.5 million being received on June 1, 2022, in recognition of the company 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 the company at its Mildura facility. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Doug Rathbone was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
Office of Drug Control Grants Permit for Manufacture of Medicinal Cannabis Products to Cann Group Limited Cann Group Limited announced that the Office of Drug Control (ODC) has granted Cann the necessary permit to allow the manufacture of medicinal cannabis products at its Mildura facility. Cann will utilise this permit for its extraction suite on site. This permit was foreshadowed in an earlier announcement on 15 March 2022, regarding the issue of a permit to allow cultivation and production of medicinal cannabis and research activities in relation to medicinal cannabis. The manufacturing permit now completes the suite of ODC permits required for the operation of its Mildura facility. Cann is also continuing to work with the Therapeutic Goods Administration on the GMP licence application for the Mildura site and Cann expects to have that licence in place in coming months. The extracts that Cann will produce at the Mildura facility will be used to formulate medicinal cannabis products for Cann's customers for supply within Australia and overseas. Additionally, Cann is authorised to sell extracts as an Active Pharmaceutical Ingredient (API). Reported Earnings • Feb 21
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.028 loss per share (up from AU$0.05 loss in 1H 2021). Net loss: AU$8.28m (loss narrowed 12% from 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 277%, compared to a 713% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Announcement • Feb 17
Cann Group Limited Announces Resignation of Mr. Geoffrey Pearce as Non-Executive Director Cann Group Limited announced that Mr. Geoffrey Pearce has resigned as a non-executive director of the Company, effective 17 February 2022, due to his other board and executive commitments. Mr. Pearce was appointed to the Board of the Company on 11 April 2016 and was subsequently re-elected at the 2017 Annual General Meeting, and then again at the 2020 Annual General Meeting. Announcement • Feb 15
Cann Group Limited Announces Cann to Begin Recruitment for CBD Phase 3 Clinical Trial Cann Group Limited announced that it will begin recruiting patients next month for a phase 3 clinical trial examining the efficacy of its proprietary CBD-Satipharm capsule for the short-term treatment of sleep disturbances and quality of life outcomes. The clinical trial is a randomised, double blind, placebo-controlled study and part of a registration program undertaken by Cann to secure an Australian approval for a Schedule 3 (S3) over-the-counter cannabidiol (CBD) product. At least 212 patients will be randomly placed into four cohorts receiving one of three different doses of the Satipharm CBD formulation, or a placebo. Clinical trial sites will be in most major capital cities in Australia. Patients will be treated for four weeks, and results of the trial are anticipated to be released later in 2022, in line with Cann's S3 registration program. Earlier clinical trials involving Satipharm CBD capsules have been successful; a previous phase 1 clinical trial of the Satipharm CBD capsules demonstrated the safety and high performance of the oral capsule technology, including the superior absorption of CBD by trial subjects compared to the leading medical cannabis product in the market,1 and a phase 2 clinical trial of the Satipharm CBD capsules showed them to be efficacious as an add-on therapy in the treatment of paediatric, intractable epilepsy. During the 2021 financial year, Australians spent approximately $97 million on pharmacy-supplied over-the-counter sleep disturbance products. Dr. Dev Banerjee, a leading sleep and cannabinoid physician in Australia who, with other sleep specialists, has assisted with the clinical trial design, said while strong anecdotal evidence exists to support the efficacy of CBD for patients struggling to achieve sleep, it is extremely important that this is validated by well-designed clinical trials. The Satipharm CBD capsules will be produced at Cann's new manufacturing facility near Mildura which has recently been audited by the TGA as part of the process to obtain a GMP licence for that facility. Executive Departure • Sep 07
Chief Financial Officer Greg Bullock has left the company During their tenure, earnings grew by 46% annually compared to the industry average of 17%. On the 1st of September, Greg Bullock left the company after 1.3 in the role. We don't have any record of a personal shareholding under Greg's name. Greg is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.42 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Aug 24
Full year 2021 earnings released: AU$0.097 loss per share (vs AU$0.12 loss in FY 2020) Full year 2021 results: Net loss: AU$25.1m (loss widened 48% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has fallen by 53% per year, which means it is performing significantly worse than earnings. Announcement • May 28
Cann Group Limited Revises Revenue Guidance for the Year 2021 Cann Group Limited revised revenue guidance for the year 2021. With revenue of $3.2 million so far this financial year (up to the end of April), the company is now forecasting total revenue for the year 2021 of between $4 million and $5 million compared to the previous revised guidance announced 15 February 2021 of between $8 million and $10 million. The revenue guidance adjustment reflects an update to the expected timing of revenue only, with the balance of the 2021 original forecast revenue now expected to be received in 2022. Announcement • Mar 11
Cann Group Limited (ASX:CAN) completed the acquisition of Satipharm Ltd, Satipharm AG and Phytotech Therapeutics Ltd from Harvest One Cannabis Inc. (TSXV:HVT) Cann Group Limited (ASX:CAN) signed a share sale agreement to acquire Satipharm Ltd, Satipharm AG and Phytotech Therapeutics Ltd from Harvest One Cannabis Inc. (TSXV:HVT) for CAD 4 million on February 14, 2021. As per the transaction, Cann Group will issue 4.3 million new Cann shares to the value of CAD 2.5 million at completion to Harvest One and and conditional deferred consideration of up to CAD 1.5 million based on achieving agreed operational and financial results and to be paid in new Cann shares or cash at the election of Cann. The number of new Cann shares to be issued to Harvest One at completion will be based on the value of the AUD equivalent of CAD 2.5 million at Completion at an issue price per share to be based on the VWAP of Cann’s shares during the 5 full trading days on the ASX ending on the ASX trading day immediately prior to the date on which completion occurs. In addition to customary terms for a transaction of this nature, the acquisition terms include the satisfaction of certain conditions precedent, including obtaining all necessary regulatory and third-party approvals and consents. The transaction is expected to be completed in March 2021, with the final element of the conditional deferred consideration expected to be paid by September 2021. Moelis Australia acted as financial advisor and William Ross Lawyers & Advisers acted as legal advisor to Cann Group.
Cann Group Limited (ASX:CAN) completed the acquisition of Satipharm Ltd, Satipharm AG and Phytotech Therapeutics Ltd from Harvest One Cannabis Inc. (TSXV:HVT) on March 10, 2021. Announcement • Mar 09
Cann Group Limited, Olivia Newton-John Cancer Research Institute and Austin Health Partnered in A Clinical Tria to Assess Medicinal Cannabis for Symptom Management in People with Advanced Cancer Cann Group Limited and the Olivia Newton-John Cancer Research Institute (ONJCRI), as the La Trobe School of Cancer Medicine, and Austin Health, announced that they have partnered in a clinical trial to assess medicinal cannabis for symptom management in people with advanced cancer. The Phase I trial commenced in late September 2020 and trial outcomes are currently being reviewed, with patients having tolerated the treatment well to date. Phase I is focused on the titration and safety of administering this new formulation of medicinal cannabis in a controlled manner. Should the Phase I study demonstrate safety and tolerability of the drug, Phase II (a double blind, randomised, placebo-controlled trial) will see the enrolment of 108 participants with advanced cancers, subject to meeting trial specific eligibility criteria. The Phase II study will evaluate the efficacy of the drug by assessing global Quality of Life in these participants, as well as other domains including pain, anorexia, nausea, anxiety and sleep. Participants can only be referred to the study by their treating physician. Reported Earnings • Feb 24
First half 2021 earnings released: AU$0.05 loss per share (vs AU$0.06 loss in 1H 2020) First half 2021 results: Net loss: AU$9.40m (loss widened 12% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 41% per year and the company’s share price has also fallen by 41% per year. Is New 90 Day High Low • Feb 09
New 90-day high: AU$0.78 The company is up 144% from its price of AU$0.32 on 11 November 2020. The Australian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 29% over the same period. Price Target Changed • Jan 08
Price target lowered to AU$1.12 Down from AU$1.87, the current price target is provided by 1 analyst. The new target price is 76% above the current share price of AU$0.64. As of last close, the stock is down 33% over the past year. Announcement • Jan 06
Cann Group Limited Receives Initial 19,000 Unit Order for Europe Cann Group Limited announced that it has committed to a minority investment in iuvo Therapeutics Limited and has received an initial order to ship 19,000 units of 30ml extract. Cann Group has made a strategic CAD 1 million cornerstone commitment in a CAD5 million capital raising that is currently being completed by iuvo, resulting in Cann Group holding approximately 2% of iuvo's issued ordinary shares. Funds raised will be used by iuvo to expand sales and marketing capabilities and assist with construction of a new manufacturing and formulation facility in Malta. Following the investment, Cann Group will be granted exclusive external rights to supply iuvo Therapeutics GmbH, iuvo's wholly-owned subsidiary, (`iuvo Germany'), with medicinal cannabis extracts until 31 December 2021, with those rights then converting to preferred non-exclusive status. iuvo has placed an initial 19,000 unit order for Cann product which is expected to be shipped to Germany within the next month, subject to relevant regulatory clearances. Being fully compliant with the latest German monograph addition "Cannabis Extractum Normatum", it will be one of the first full-spectrum extracts available in the market. Major Estimate Revision • Nov 25
Analysts update estimates The 2021 consensus revenue estimate was lowered from AU$16.0m to AU$14.0m. Earning per share (EPS) estimate was unchanged from the last update at -AU$0.04. The Pharmaceuticals industry in Australia is expected to see an average net income growth of 21% next year. The consensus price target was lowered from AU$1.87 to AU$1.86. Share price is up 77% to AU$0.55 over the past week. Is New 90 Day High Low • Nov 24
New 90-day high: AU$0.51 The company is up 22% from its price of AU$0.41 on 26 August 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 4.0% over the same period. Recent Insider Transactions • Oct 20
Deputy Chairman recently bought AU$55k worth of stock On the 13th of October, Philip Robert Jacobsen bought around 144k shares on-market at roughly AU$0.38 per share. In the last 3 months, they made an even bigger purchase worth AU$79k. Philip Robert has been a buyer over the last 12 months, purchasing a net total of AU$156k worth in shares. Announcement • Oct 13
An unknown buyers acquired 11.84% stake in Cann Group Limited (ASX:CAN) from Aurora Cannabis Inc. (TSX:ACB). An unknown buyers acquired 11.84% stake in Cann Group Limited (ASX:CAN) from Aurora Cannabis Inc. (TSX:ACB) on October 9, 2020. Aurora has indicated to Cann Group that its decision to exit a strategic holding in Cann Group. The transaction will not have any impact on Cann Group’s business plans.
An unknown buyers completed the acquisition of 11.84% stake in Cann Group Limited (ASX:CAN) from Aurora Cannabis Inc. (TSX:ACB) on October 9, 2020 Is New 90 Day High Low • Oct 12
New 90-day low: AU$0.38 The company is down 54% from its price of AU$0.82 on 14 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 1.0% over the same period. Announcement • Sep 21
Cann Group Limited(ASX:CAN) dropped from S&P Global BMI Index Cann Group Limited(ASX:CAN) dropped from S&P Global BMI Index Announcement • Aug 19
Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 25.9 million. Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 25.9 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 64,750,000
Price\Range: AUD 0.4
Discount Per Security: AUD 0.012 Announcement • Jul 24
Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 14.3 million. Cann Group Limited has completed a Follow-on Equity Offering in the amount of AUD 14.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,750,000
Price\Range: AUD 0.4
Discount Per Security: AUD 0.008
Transaction Features: Subsequent Direct Listing