Cannasouth Limited and Group reported a operating loss of $3,546,495 for the six months ending June 30, 2023, compared to a loss of $2,476,560 in the same period last year.
The company's cash on hand as of June 30, 2023, was $5.32 million, compared to $1.46 million in 2022.
Cannasouth completed a merger with Eqalis Group in May 2023, positioning itself as a leader in the New Zealand medicinal cannabis industry.
The company plans to undertake a dual listing on the ASX in the near term.
Cannasouth achieved several milestones during the period, including obtaining a GMP Licence to Manufacture Medicines and exporting its first commercial-scale shipment of dried cannabis flower to Australia.
The company also submitted product applications for prescription in New Zealand and announced its intention to dual list on the ASX.See more