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At the time of writing, the Cann share price is down 14% to 32.5 cents.
What did Cann announce?
This morning Cann announced an institutional placement and a share purchase plan aiming to raise a total of $20 million.
This comprises a $10 million institutional placement and a $10 million share purchase plan, with the funds being raised at 27.5 cents per new share. This represents a 27.6% discount to the Cann share price prior to its trading halt.
According to the release, the proceeds from the capital raising will be used to invest in…
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