Australia's Cann group jumps most in over 19 months on licence grant

American Cannabis

30/06/2022 05:07

** Shares of cannabis co Cann Group Ltd  CAN.AX  rise as
much as 26.1% to A$0.29, their best intraday session since Nov.
24, 2020, if gains hold
    ** CAN says Australian regulator Therapeutic Goods
Administration granted it a good manufacturing practice (GMP)
licence at its Mildura facility  urn:newsml:reuters.com:*:nASX8d3Jqy
    ** Says licence enables co to manufacture Active
Pharmaceutical Ingredients (API) and hard capsules and conduct
GMP testing at its laboratories
    ** Co says it can now make medicinal cannabis manufactured
at Mildura available to patients
    ** Shares hits their highest value since June 10
    ** More than 1.6 million shares change hands, compared with
the 30-day average volume of about 438,000 shares 
    ** Stock has fallen about 21% this year as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))