Cann Global (CGB) has lodged a fresh request to extend its voluntary ASX trading halt while it finalises due diligence on what the company has described as "a major opportunity."
CGB originally sought the suspension in September 2022 to complete work on "a material transaction" — one of several deals the company said it was pursuing at that time.
That transaction — "among others which CGB has since actively reviewed and sought to progress" — ultimately failed to clear regulatory hurdles.
In a statement to the ASX last week, the company said: "CGB has continued to review and progress opportunities and is currently concluding detailed due diligence on what directors believe to be a major opportunity for our company.
"While CGB had expected that this would be able to be concluded and announced prior to the expiry of the current voluntary suspension on September 15, 2023, additional time will be required to complete the legal and regulatory elements of this process as required by the ASX.
"Subject to satisfactory completion of these milestones, we look forward to providing further information and to moving the company forward to what we expect to be a much more successful period for CGB and our shareholders."
CGB indicated it anticipates making an announcement concerning "a proposed acquisition" by Friday October 20, 2023, and said it was unaware of any grounds on which the extension request would be refused.
