Cann Group Raised AUS$587 Million– New Cannabis Ventures
CannGroup(ASX: CAN) (OTC: CNGGF) revealed a boost to its capital raise, enhancing it to $587, seling by shares $2.50 in an offer financed by CanaccordGenuity AuroraCananbis(TSX: ACB) (OTC: ACBFF) took part in the offering, enhancing its stake from 19.9% to 22.9%, investing $26 mm. Directors of the business mean to invest $1.3 mm, raising the overall offering to $60 mm. The offer is anticipated to close January 15 th.
We can now progress with complete certainty on our stage 3 growth program, that includes the advancement of a 16,000 m ² greenfield center. including some 9,600 m ² of blooming production location. In addition, we can advance prepare for the advancement of additional production websites situated on a tactical basis to assist alleviate production-related threats.
The export chance is now being assessed by the appropriate authorities and I anticipate a statement in the future. Leading into 2018 and beyond, the Company will continue to provide on its tactical goals and turning points, with an instant concentrate on stage 3 growth programs.
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