Cann Group
Cann Group has given shareholders an extra 12 days to participate in its share purchase plan (SPP), pushing back what had been tomorrow's deadline as part of the company's ongoing effort to raise additional capital.
The company cited postal delays and technical problems with its online platform as the reasons behind the decision.
"The company has been made aware that many of its shareholders have experienced difficulties in either receiving materials due to postal delays or accessing the SPP online platform," Cann said in a statement.
"The extension has been granted to ensure that all eligible shareholders have an opportunity to participate in the SPP."
The new deadline for shareholders to apply for additional shares is 5pm on November 30.
Cann Group is seeking to raise between A$8m and $10m to expand manufacturing capacity at its Mildura facility.
Through the SPP, eligible shareholders may apply for up to $30,000 worth of additional shares.
Hey Bud
Hemp-based skincare brand Hey Bud has secured a distribution deal that places its products in more than 400 Priceline stores across Australia.
Founded in 2020, the company sells a range of hemp seed oil-infused products including serums, cleansers and clay masks. The brand has built a strong following among younger consumers, with over 200,000 Instagram followers, and says it has already recorded A$10 million in sales.
The company was co-founded by Alex Roslaniec, Fedele D'Amico and Ollie Watts, who conceived the idea after D'Amico's mother, a beauty therapist, began ordering hemp seed oil products from the United States.
Roslaniec told Smart Company the Priceline partnership would help the brand connect with a wider base of young shoppers.
He said: "What we found from speaking to a few different retailers was that Priceline's customer demographic really made a lot of sense for us."
Roslaniec added the firm is "keeping a very close eye" on the over-the-counter CBD market in Australia so it is "ready to pivot into that space".
The company is also looking into opportunities to expand its distribution internationally.
Gamma Biomedical
Queensland-based healthcare company Gamma Biomedical has received its first medicinal cannabis shipment in Australia, made possible through a partnership with Colombian licensed cultivator Pharmacol.
The product, Sol Cannabis, is grown using two flower strains — Northern Lights and Blueberry — and is currently stocked at Astrid Dispensary in Melbourne, with broader pharmacy distribution across Australia expected in the months ahead.
Gamma Biomedical was established in 2014 by Daniel Tyshynski. He said: "Everything we have done… over the past 10 years has really been building towards this moment, which is having the finished Sol Cannabis product… on Australian shores."
