Cannasouth has closed its 1 for 10 pro rata renounceable rights offer, raising approximately $1,519,000 and receiving applications for a further $1,502,000 in oversubscriptions.

An Oversubscription Bookbuild process in respect of 8.66m shares will be conducted today and tomorrow with the price at which new shares will be issued determined by Cannasouth not later than 5pm on 9 September 2022.

Settlement, allotment and trading in the new shares is expected to occur on or before 14 September 2022.

Market participants and investors wishing to take part in the Oversubscription Bookbuild should contact CM Partners Limited.

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