Cann Global Issues Secured Convertible Notes to Support Expansion

  • Nov 05, 2019 AEDT
  • Team Kalkine

Cann Global Limited (ASX: CGB) agreed to issue 2,600,000 secured convertible notes to raise $2.22 million after costs. Proceeds from the issue of notes are expected to be used for further build-up of inventory and production to meet the growing demand of the existing inventory.

The Notes have an initial term of 120 days. A resolution is to be put to the company’s shareholders to approve the issue of the replacement convertible notes with longer term at a General meeting of shareholders expected to be held during the first quarter of 2020.

Concurrently, Cann Global will issue 25,000,000 fully paid ordinary shares to investors, as collateral for the investment under the notes and are not additional shares issued to the investors by way of a fee.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK