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CAN - Cann News Story

A$0.405 -0.0  -2.4%

Last Trade - 7:10am

Sector
Healthcare
Size
Micro Cap
Market Cap £32.2m
Enterprise Value £36.5m
Revenue £360k
Position in Universe 906th / 1829

BUZZ-Australia's Cann Group jumps, sees first sales of medicinal cannabis in early 2020

Thu 19th December, 2019 12:31am
** Shares of Cann Group Ltd  CAN.AX  rise as much as 21.18%
to A$0.515, marking their biggest intraday percentage rise since
Nov. 26
    ** Cannabis cultivator Cann and drug developer IDT Australia
 IDT.AX  jointly announce that first sales of commercial
medicinal cannabis product produced by Cann expected in Q1 of
CY2020 (https://reut.rs/2sKlZms)
    ** The firms say the medicinal cannabis product produced by
Cann will undergo stability testing ahead of release
    ** Under agreement between the two firms, IDT provides
manufacturing services to Cann's medicinal cannabis
    ** Shares of IDT Australia gain as much as 16.7%, marking
their best intraday rise since May 20
    ** Shares of Cann group among top percentage gainers in the
ASX All Ordinaries index  .AORD 
    ** Cann stock is down 79.3% this year, as of last close,
while IDT has lost over 17% 

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))
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