Burning cash: Cannasouth investors opt for a vote of no confidence

Mark Lucas has been elusive since Cannasouth moved into voluntary administration just before Easter. (Image: Cannasouth)

Brent Melville

Tue, 02 Apr 2024

Cannasouth director and chief executive Mark Lucas has made himself scarce since the firm moved into voluntary administration just ahead of the Easter long weekend.That was after the tap was shut off for future fundraising across the capital-intensive business.The company – which in June 2019 became the first biopharmaceutical cannabis firm in New Zealand to list on the NZ stock exchange – had halted share trading on the exchange earlier in the week. It cited a dispute with its convertible note holders as potentially interferin...

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