Annual Report to Shareholders
As announced in August 2018, the Company entered into an agreement to purchase 100% of T12, which produces and distributes a number of leading brands in the hemp and health food industries. T12 took over the management of CGB's food production and distribution division from the time of entering into the agreement. The acquisition was not formally concluded until prior to the relisting in August this year which is after the reporting period, and therefore T12 accounts have not been included in this report, as the consolidation of T12 only became formally included within the Group accounts following the end of this reporting period ending June 2019.
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About Cann Global Limited
Cann Global Limited's (ASX:CGB) primary focus is to legally grow and cultivate hemp to research and develop medicinal cannabis products to service an increasing demand in the Australian and global markets.
Cann Global Ltd has a 100% shareholding in Medical Cannabis Ltd (MCL) and a management agreement with Medcan Australia Pty Ltd (Medcan) which operate a business cultivating, researching, developing and soon to be distributing medicinal cannabis products in Australia. Our Medical Cannabis division has been a key value driver for the Group.
The Group also retains an interest in its existing Bauxite Projects.
Cann Global Limited