More bad news from Cann Group (Australia)
Cann Group has downgraded its revenue forecast for FY21, from A$8-10 million to $4-5 million, blaming Covid-19 interruptions to supply chains.
Cann predicted revenue of $15 million at its AGM in November 2020, but issued new guidance of $8-10 million in February.
Cann told the ASX timelines for international regulatory approvals have blown out while third-party manufacturing and supply issues have caused temporary delays in shipping product to local and export customers.
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