CANN Group Limited

Canaccord Genuity acts as Joint Lead Manager and Underwriter to Cann Group Limited on its A$13.5 Million Initial Public Offering

Canaccord Genuity is pleased to announce the completion of an initial public offering by Cann Group Limited (“Cann”) (ASX:CAN) on the ASX with a market capitalisation of A$32.5m.

The IPO raised gross proceeds of A$13.5 million at an issue price of A$0.30 per share. Canaccord Genuity acted as Joint Lead Manager and Underwriter to the IPO, which was heavily oversubscribed by institutional and sophisticated shareholders.

Canaccord was instrumental in securing a significant cornerstone investment from Aurora Cannabis Inc. (TSXV:ACB), who will hold 19.9% of the total number of shares on issue after completion of the IPO.

Cann is an Australian based business seeking to take advantage of opportunities in the emerging medicinal cannabis industry in Australia. Cann is the first Australian company to be granted the necessary licenses to undertake research and to cultivate medicinal cannabis for human use under new legislation legalising medicinal cannabis in Australia and has established facilities and systems to cultivate medicinal cannabis.

Cann’s vision is to be a leading developer and supplier of cannabis, cannabis resin and medicinal cannabis products into the Australian market, and to supply overseas markets.