Company News: Cann Group; Hi buddy; Biomedical range

Cann Group

Cann Group grants shareholders an additional 12 days to help the company raise more capital after extending tomorrow’s deadline to participate in its stock purchase plan (RAA).

He blamed postal delays and technical problems for the extension.

Cann Group raises capital to fund additional manufacturing capacity at its Mildura plant

“The company has been informed that many of its shareholders have experienced difficulty receiving documents due to postal delays or accessing the SPP online platform,” Cann said in a statement.

“The extension has been granted to ensure that all eligible shareholders have the opportunity to participate in the SPP.”

Shareholders now have until November 30 at 5 p.m. to request more shares.

The Cann Group seeks to raise between 8 and 10 million Australian dollars to fund additional manufacturing capacity at its Mildura plant.

Under the SERP, shareholders can request additional shares up to a maximum value of $30,000.

Hi buddy

Hemp-based skincare company Hi buddy provided distribution to over 400 Priceline stores across Australia.

Launched in 2020, the firm’s line includes serums, cleansers and clay masks infused with hemp seed oil. He has a strong youth, with over 200,000 Instagram followers, and claims to have already achieved A$10 million in sales.

Founders Alex Roslaniec, Fedele D’Amico and Ollie Watts came up with the idea after D’Amico’s mother, a beautician, ordered hemp seed oil products from the United States.

Roslaniec says Smart Company a partnership with Priceline would allow it to reach a younger clientele.

He said, “What we found out talking to a few different retailers is that Priceline’s customer demographics really made a lot of sense to us.”

Roslaniec added that the company is “keeping a very close eye” on the over-the-counter CBD market in Australia, so it is “ready to pivot into this space”.

He is also exploring international distribution opportunities.

Biomedical range

Queensland-based healthcare company Gamma Biomedical has landed its first shipment of medical cannabis to Australia through a partnership with Colombian licensed grower Pharmacol.

Cultivated with two flower strains – Northern Lights and Blueberry – Sol Cannabis is currently available from the Astrid Dispensary in Melbourne, and pharmacies across Australia are expected to receive stock over the next few months.

Gamma Biomedical was founded in 2014 by Daniel Tyshynski. He said: “Everything we’ve done…over the last 10 years has really been built towards this moment, which is having the finished Sol Cannabis product…on Australian shores.”

Karen J. Nelson