Cann Group’s SPP Closes Today with Free Attaching Options
Cann Group Limited reminds eligible shareholders that its Share Purchase Plan (SPP) closes today, offering new shares at a discount plus free attaching options, pending shareholder approval.
- SPP closes 17 November 2025 at 5 – 00pm AEDT
- New shares offered at lower of $0.0115 or 2.5% discounted VWAP
- One free attaching option per new share exercisable June 2026
- Piggyback options exercisable June 2028 subject to shareholder approval
- SPP follows recent institutional placement to support growth
SPP Offer Deadline Approaches
Cann Group Limited (ASX – CAN), a key player in the cannabis pharmaceuticals sector, has reminded its eligible shareholders that the window to participate in its Share Purchase Plan (SPP) closes today, 17 November 2025, at 5 – 00pm AEDT. This capital raising initiative follows a recent institutional placement and aims to bolster the company’s financial position to support its ongoing growth strategy.
Attractive Pricing and Incentives
The SPP offers new shares at the lower of a fixed price of $0.0115 per share or a 2.5% discount to the five-day volume weighted average price leading up to the offer’s close. This pricing mechanism is designed to provide shareholders with a fair entry point relative to recent trading activity. Additionally, for every new share issued under the SPP, shareholders will receive one free attaching option exercisable at $0.0115 before 15 June 2026.
Future Upside via Piggyback Options
Beyond the immediate attaching options, Cann Group is also offering piggyback options exercisable at $0.0285 before 15 June 2028. These piggyback options are contingent on shareholder approval at an extraordinary general meeting (EGM) expected around 23 December 2025. This layered option structure provides shareholders with potential upside aligned with the company’s long-term growth prospects.
Strategic Growth and Shareholder Engagement
The company’s board and management have expressed appreciation for the support shown by institutional investors during the recent placement and encourage eligible shareholders to consider participating in the SPP. Cann Group’s operations include large-scale cultivation and manufacturing facilities in Victoria, Australia, and the company continues to innovate in cannabis-based medicines, including proprietary capsule technology through its Satipharm subsidiary.
Next Steps and Considerations
Shareholders are urged to carefully review the offer booklet and seek professional advice before deciding to participate. The final uptake of the SPP and the outcome of the shareholder vote on the piggyback options will be key indicators of market confidence and will influence Cann Group’s capital structure and funding capacity moving forward.
Bottom Line?
As the SPP closes today, all eyes turn to shareholder approval in December and the impact on Cann Group’s growth trajectory.
Questions in the middle?
- What level of participation will the SPP achieve relative to the recent placement?
- Will shareholders approve the piggyback options at the December EGM?
- How will the new capital and options affect Cann Group’s share price and dilution?
