Brief: Cann Global Announces Further Streamlining Of Core Business Brands
04/04/2023 07:40
April 4 (Reuters) - Cann Global Ltd CGB.AX :
* ANNOUNCES FURTHER STREAMLINING OF OUR CORE BUSINESS BRANDS
AND
IMPLEMENTING ADDITIONAL COST- CUTTING MEASURES
* MANAGING DIRECTOR OFFERED TO TAKE A 50% REDUCTION IN
REMUNERATION FOR DURATION OF SUSPENSION PERIOD
* PRIORITIZED FUND PRESERVATION OVER EXPENDITURE WHILST
MAINTAINING SOLID FORWARD OPERATING FUNDS AND CARRYING A$0
LONG-TERM DEBT
* PRESENTLY EVALUATING LONG-TERM VIABILITY, PROFITABILITY OF
CORE
VALUE BRANDS, SUCH AS GRASS ROOTS, TO DETERMINE OPTIMAL
TIMELINES
* EXPECTED THAT ANNOUNCEMENT REGARDING A PROPOSED
ACQUISITION WILL
BE ABLE TO BE MADE BY 28 APRIL
Source text for Eikon: ID:nASX6sS2W9
Further company coverage: CGB.AX
((Reuters.Briefs@thomsonreuters.com;))
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