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AusCann Group halts shares ahead of capital raising

The company recently appointed Canadian Luke Pigeau as master grower.
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Further details regarding the capital raising are expected within 48 hours

AusCann Group Holdings Ltd (ASX:AC8) has been granted a trading halt by the ASX pending the release of information regarding a capital raising.

Shares in the company will remain halted until the earlier of the release of the relevant information or the commencement of trading on Thursday.

READ: AusCann Group Holdings to accelerate medical cannabis strategy through master grower appointment

Last week AusCann outlined that it intended to accelerate its Australian medical cannabis manufacturing operation through the appointment of Canadian Luke Pigeau as master grower.

Pigeau, who was appointed following an extensive global search, will oversee AusCann’s Tasmanian Alkaloids cultivation operation in Tasmania.

The appointment is complemented by the company entering into a research and development agreement with Canadian group Jade Cannabis.

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