Cann Group Limited (ASX:CAN)

ALERT: Price-sensitive ASX Announcement for CAN

Current share price for CAN : $0.003 -0.004 (-57.14%)⁺

Announcement

Cann Raises $750k via Convertible Note

Release

16 Mar 2026 9:30AM

Price at Release

$0.007

Full Release

Summary

Cann Group Limited (ASX: CAN) has announced a new convertible securities agreement with Obsidian Global GP, LLC to raise $750,000. The funds are intended to provide working capital to assist the company in achieving its target of becoming EBITDA positive. The convertible securities have a purchase price of A$750,000, with a legal costs contribution of $10,000. The maturity date is set 18 months after the execution date, and there are no coupons involved. The conversion price is set with both premium and variable options, influenced by market conditions, with a maximum of 195,000,000 shares to be issued without shareholder approval. Additional shares would require shareholder approval.

Key Points

Cann Group Limited announces a $750k convertible note agreement.
Funds raised will assist in reaching EBITDA positive target.
Agreement is with Obsidian Global GP, LLC.
Maturity date is 18 months post-execution.
No coupons are involved in the convertible notes.
Conversion price has premium and variable options.
Maximum of 195 million shares can be issued without shareholder approval.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.