CAN - Cann Group has big expectations for revenue growth

(NewsDirect)

Cann Group Ltd(ASX:CAN) CEO Peter Koetsier tells Proactive they’re a B2B cannabismanufacturer - one of the first in Australia. He says the business iscurrently in a phase of scaling up and focusing on operations after aperiod of construction and building its facility. The company reportedrevenue from sales of $13.78 million (FY22: $6.41 million) whichrepresents a 115% increase. Cann’s flagship Mildura facility has nowbeen commercially harvesting for more than a year with the latestharvested crop area equating to an annualised production level of 8tonnes – double the size of previous harvests.

Koetsier said of thecompany's latest figures, “Cann Group has made considerableprogress over the course of the 2023 financial year. Most notably, thecompletion of construction on the Company’s flagship Mildurafacility has now allowed Cann to truly pursue its goal of becomingAustralia’s premier B2B medicinal cannabis supplier. Thisstate-of-the-art facility represents a substantial investment and anasset that must be fully utilised to capitalise on its capabilitiesand production efficiencies. As we continue our growth towardsMildura’s 12.5-tonne, optimal capacity, we expect Cann to prove tobe a globally competitive and profitable business.”

“The Company is now focused on scalingproduction of its high-quality portfolio, as well as fully resourcingour sales and marketing in an effort to quickly buildrevenue.”

ContactDetails

Proactive Investors

JonathanJackson

+61 413 713 744

jonathan@proactiveinvestors.com

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