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Cann Global: Raises $3.75M to clear liabilities

December 9, 2020

Cann Global (CGB) has revealed it will be undertaking a share placement to raise $3.75 million
All up, 750 million fully-paid ordinary shares will issued to professional and sophisticated investors at 0.5 cents
Participants will also receive options, exercisable at 1.2 cents with expiry on January 31, 2022
These options will issued in two phases with phase one set to issue 125 million options at the same time as the placement
Subject to shareholder approval is the issue of phase two options and 15 million additional options to brokers of the placement
Cann Global will use $3 million to clear its liabilities while the remaining will used for general working capital