AusCann chief executive Layton Mills has resigned from the company following an 18-month tenure in the role.
According to the company, Mills will "continue to support the company" throughout a six-month notice period before "pursuing other business interests."
Mills had taken the reins as CEO from Nick Woolf in January 2021 after AusCann completed its acquisition of CannPal Animal Therapeutics, a company Mills had originally founded.
He said in a statement: "I am thankful for the opportunity given to me by the board and shareholders of AusCann during the last 18 months and would like to personally thank the AusCann board for their support. I look forward to following the company's journey."
AusCann chairman Tod McGrouther said the board would work alongside Mills to "manage the transition" through the rest of 2022.
McGrouther added that a replacement CEO would be named "at the appropriate time."
The departure follows AusCann's announcement the previous day that it is extending a further A$3.5m loan to joint venture partner Eurocann as both companies chase opportunities across Australia and Germany.