Cann Group chairman Julian Chick has purchased 250,000 shares in the cannabis company, joined by incoming chief executive Jenni Pilcher and fellow director Robert Barnes in a show of confidence as the business seeks steady footing following a turbulent return to the sharemarket.
Chick spent $10,000 on his stake, with shares priced at $0.04c, while Barnes committed the same sum for 200,000 shares at $0.05c each.
Neither director had previously held any shares in the company.
Pilcher has purchased 205,500 shares for $9,952, bringing her total holding to 330,500.
The company's stock dropped sharply last week when Cann Group returned to trading after a forced suspension lasting three months.
The stock is currently priced at $0.048c, putting the company's market capitalisation at $21m.
AusCann
Brett Mitchell has stepped down from his non-executive director position at AusCann, with Piers Lewis announced as his successor.
Mitchell, who previously served as chairman of MGC Pharmaceuticals — now known as Argent Biopharma — joined the board in June 2023.
Lewis brings 25 years of corporate advisory experience to the role and currently chairs ASX-listed mining firm Aurumin, while also serving as a non-executive director at OD6 Metals and copper company Noronex.
AusCann last month announced a deal to merge with WA-based ECC Pharma, with the combined entity intending to list on the ASX.
Emyria
Emyria has appointed the co-founder of sleep disorder clinic Sleep Studies Australia — now operating as Western Australia Sleep — to a newly established general manager of clinical operations position.
Simon Kemp was instrumental in growing the sleep clinic into a national network that generates annual revenues of $3.5m.
In a separate development, Emyria has announced that chief financial officer Joseph Ohayon has resigned.
Avecho
Avecho Biotechnology has received A$1.07 million through the government's research and development tax incentive scheme.
The company plans to put the money toward its ongoing schedule 3 clinical trial for insomnia and to progress its commercialisation strategy.
