Cannasouth Limited (NZX: CBD) reported its preliminary results for the year ended 31 December 2022, showing a loss from continuing operations of $7.91 million.
The Company successfully established a world-class team, commercial cultivation operations, manufacturing, and research and development capability to enable it to compete in the rapidly growing domestic and global medicinal cannabis markets.
They took three crops through to harvest, with two growing in progress at year end, and had their first cannabis medicines verified by the Medicinal Cannabis Agency.
Cannasouth then proposed a merger with Eqalis Group New Zealand Ltd, and divested Midwest Pharmaceutics NZ Ltd, to form the largest New Zealand based, fully integrated, medicinal cannabis company.
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