Cannasouth Limited has today released its 2022 half year review of operations, 2022 half year financial statements, and 2022 half year results announcement.
The operating loss for the six months to 30 June 2022 was $3,732,506 (2021: $1,992,634).
Cash on hand as at 30 June 2022 was $2.59 million (30 June 2021: $4.63 million, 31 December 2021: $5.52 million).
During the half year Cannasouth Ltd’s subsidiary Cannasouth Cultivation Limited commenced its first commercial-scale cannabis crop, Cannasouth Ltd’s subsidiary Cannasouth Bioscience Limited had its first three cannabis products successfully verified by the Medicinal Cannabis Agency, Midwest Pharmaceutics NZ Ltd signed a three-year manufacturing agreement with its cornerstone customer, and Cannasouth Bioscience Ltd signed a supplier agreement with WEECO Pharma GMBH.
Cannasouth is now on the verge of commencing revenues, and the board is currently assessing its capital requirements.
See more
