Cann Group has requested a voluntary trading halt on its shares while it prepares to release details of an upcoming capital raise.
The previous month, the company reported it had grown revenue to just over A$4 million, doubling its prior result for Q1 FY24, though the ASX subsequently requested clarification on how the company planned to sustain its operations given concerns about its cash reserves.
UPDATE (November 21, 2023): Cann Group inks deal to raise A$2m with more funds on the horizon.