Cannasouth major investors happy with early Christmas present

After pruning the company for a sustainable yield, Cannasouth administrators prepare to step back. (Image: NZME)

Fri, 13 Dec 2024

Major investors in delisted medicinal cannabis grower and processor Cannasouth expect it to trade out of voluntary administration with all shareholders intact.“It’s nothing short of a miracle,” said shareholder and former director Greg Misson.Forensic accountant David Petterson was brought in by an investor group and appointed interim chief executive by the administrators to run the business. This has halved its staff to 19 and focused on cutting other costs.Petterson is expected to stay on and appears to have shareh...

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