Cann Group (ASX:CAN) has secured a $3.2 million research and development tax incentive refund.
The group specialises in breeding, cultivating, manufacturing and supplying medicinal cannabis for sale and use within Australia.
The refund relates to the costs of research and development incurred by the company during the 2020 financial year.
Cann Group says “the funds will be reinvested into the continued development of it’s expansion, commercial activities and product portfolio”.
Shares in Cann Group (ASX:CAN) are trading 1.5 per cent higher at 68 cents.