We are pleased to announce that Cann Group (ASX:CAN) has completed an $8 million raising via the issuance of unsecured convertible notes.

Cann Group was issued Australia’s first Medicinal Cannabis Cultivation Licence, which authorised the company to produce Australia-grown cannabis for medicinal purposes. Cann Group has established R&D and cultivation facilities in Australia to facilitate the supply of medicinal cannabis for a range of diseases and medical conditions.

The proceeds from the raising will be used to support working capital requirements.