CAN 0.00% 28.5¢ cann group limited

Ann: Trading Halt, page-2

  1. 3,100 Posts.
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    Another capital raising. Who in their right mind would give money to these guys now?

    CAN is a sinking ship , incapable management (cant get a greenhouse built in 4 years with wasting 100 mill shareholder money in the process of not getting it done) , wrong business model (indoor cultivator in a country with high labour and energy costs), by the time they are producing they will be producing an over priced product and will be out manouvered by companies with better business models.

    They have done a good job in one aspect, management have done a good job at looking after themselves for the last 5 years, nice big salaries from the australian investors, whilst achieving nothing for shareholders.

    So CAN raised $78 mill @2.50 back in 4/12/17. They raised $40.2mill @40c just last year. This raising will need to be at a discount too. So shareholders are getting diluted at a lower and lower price, what happened to the bank facility they had? Thought they were well funded. Not looking good.
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