Cann Group to increase Mildura facility

Company News

by Rachael Jones

Cann Group (ASX:CAN) plans to increase production of its large-scale state-of-the-art greenhouse facility in Mildura.

An amended design will increase full production capacity by 40 per cent to 70,000 kilograms of dry flower per year.

Cann has worked with its construction partners, including Aurora Larssen Projects, to improve space utilisation and efficiencies with the plant production systems.

The increased capacity of the Mildura facility, Cann Group expects to generate annual revenues of approximately $220 million to $280 million based on the current wholesale price of cannabis dry flower.

Shares in Cann Group (ASX:CAN) are trading 10.26 per cent higher at $1.88.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.