Plan to save ‘cash-strapped’ Cannasouth put forward

Mark Lucas quit as chief executive of the company before the first creditors meeting. (Image: Supplied)

Thu, 30 May 2024

A group of investors has proposed a plan to save part of the New Zealand Exchange-listed Cannasouth group from liquidation.Blacklock Rose’s Garry Whimp and Ben Francis were appointed voluntary administrators of the cannabis firm in late March after a dispute with its convertible note holders was potentially interfering with an “urgent” capital raise it was planning to announce to the market.The group went public in 2019, raising $10 million at 50 cents a share, and last year merged with Eqalis Pharmaceuticals.In its results fo...

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