Why is Cann Group (ASX:CAN) trading in green today?

  • February 22, 2021 04:38 PM AEDT
  • Team Kalkine

Cann Group Limited (ASX:CAN), a company focused on breeding, cultivating, manufacturing and supplying medical cannabis, has shared the half year results for six months to 31 December 2020. 

Gold MTF non-AMP

Key highlights:

  • The Company registered sales of AU$1.08 million as compared to AU$0.57 million during 1H2019.
  • An operating loss of AU$9.4 million was reported by the firm. It stood at AU$8.4 million during 1H 2019.
  • The Group secured purchase orders with several distribution partners, including an initial order of 19,000 units from Cann’s German distribution partner, iuvo Therapeutics Ltd.
  • Towards the end of the first half period, the Group declared that it has signed a Share Sale Agreement to acquire the Satipharm business for CAD$4.0 million.

Meanwhile, the share price of CAN hovered around AU$0.700 a share, up 0.719% with market capitalisation at AU$190.12 million at 1:42 PM AEDT.

TO KNOW MORE, CLICK ON THE LINK: How did Cann Group (ASX:CAN) perform in 1H FY21?