Ann: Rights Issue Update, page-15

Well ... if Volcan did sell shares then they should have paid the debt they owe CGB shareholders - about $1,200,000 worth of shares would just about account for the debt!

"Attractively priced at $0.005 cents per share, discount of 34% to the 3 months VWAP of $0.007574"

Or, better still, an 85% discount to the previous issue! If, I was considering investing, I would place an order into the 0.004 or 0.003 bid queues. I think there are some props in the 0.004 line that could easily evaporate with a bit of selling pressure.

And anyway - can someone explain how promoting a 34% discount to the value of a holders share possibly be an inducement for existing holders? And if a 34% discount is viewed as a good thing - what will be the impact of the dilution upon an existing holders shares?

"... and their proportionate interest in Cann Global will be diluted."

Attractively priced? Distressingly priced - I would think.

"Proceeds from the Entitlement Offer, less expenses, will be used to progress existing research projects as well as to provide working capital for inventory purchases and marketing of existing products, and flexibility to invest in strategic growth projects."

The previous financial reports noted forward marketing spend at ~40k when they had millions in the bank. What's changed?
March Quarterly Report $A’000
9. Estimated cash outflows for next quarter
"9.1 Research and development 1,000
9.2 Product manufacturing and operating costs 300
9.3 Advertising and marketing 40
9.4 Leased assets 5
9.5 Staff costs 350
9.6 Administration and corporate costs 650
9.7 Other (provide details if material)
9.8 Total estimated cash outflows 2,295"

Absolutely nothing on cutting costs - just more spending.

1. Cut AGMPL management services costs by 50% to 66% - why should holders keep funding this "agreement"?
2. Immediately issue a Letter of Demand to both Volcan and AGMPL for the outstanding interest free, unsecured loans.
3. Immediately cancel the research funds.

"Directors Pnina Feldman and Sholom Feldman intend to fully participate their shareholding in the rights
issue. This commitment is testament to their confidence in the growth opportunities to which these funds are being partially applied.
In addition, two of Cann Global’s largest shareholders, LBT Corp and founder and Director of CGB’s subsidiary Medical Cannabis Limited Andrew Kavasilas, who together represent approximately 20% of issued shares, have indicated their intention to participate for their pro-rata share entitlement."

So they should. They failed to last time.

I have read all of the documents regarding this "issue". I would be very reluctant to invest a cent (which btw equals two shares) until I saw a firm commitment from the BOD to a hard program of cost reductions. That's my personal view and each holder should do their own research.

My prediction - extension to the closing date on or before 20 July 2020.