Why the new CEO took on the poisoned chalice is beyond me
Although I imagine her renumeration + the rest of the management team will keep draining the minus bank balance until the repo man turns up.
The board need to make some serious decisions
I note the Chairman has decided to leave Cann Group off his CV on Linked In!
We gather they are trying to sell the farm
Cannabiz Australia write
More (paywall)
Meanwhile they managed to squeeze a bit more cash out of somebody Cannabiz Aus reports today (2 Sept 2024)
Cann Group
Cann Group has received a $1 million advance from Endpoints Capital providing early access to its expected FY24 research and development (R&D) tax incentive of $1.97m.
The advance was provided under the terms of a loan agreement executed between Cann and Endpoint at an interest rate of 16% per annum and will be repaid when the proceeds of the R&D refund are received, or by November 30, 2024 (whichever occurs earlier).
Cann CEO and managing director Jenni Pilcher said the advance provides Cann with immediate funding to support business operations, including R&D activities which support the firm’s goal to supply medicinal cannabis products “based on unique strains and delivery methods”.
We’ve been following this for years and wonder when it will ever end!
This is page 1 of google news search performed today (2 Sept 2024) .. you’d have thought this would indicate something to even the most casual observer
