Cannasouth needs to raise capital

Cannasouth is going to seek more funding. (Image: NZME)

Tue, 03 Oct 2023

Medicinal cannabis provider Cannasouth says it needs to raise capital due to its “constrained cash position”.The Waikato-based firm has struggled to make money as it waits for its medicinal cannabis products to be verified by relevant agencies. It last posted a loss of $3.5 million for the six months to June 30, 2023, up from $2.5 in the prior period. Chief executive Mark Lucas told BusinessDesk that although verification for its cannabis flower product could come within weeks, it needs money to operate until that and...

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