CANN Group, the company building a medicinal cannabis site near Mildura, was expecting to make an announcement about a capital raising this week.
Shares in the listed company were placed in a trading halt on Wednesday pending the release of more information.
The trading halt was expected to last two days, the company told the Australian Securities Exchange.
Cann Group earlier this month revealed it would receive a grant of almost $2 million under the Victorian Government’s Regional Jobs Fund for electricity upgrades at the Sunraysia site.
Work on the intended $130 million project started last year, although by February it had moved to a “revised, staged construction plan”.
In April, the company said timeline estimates may be hit by delays due to the coronavirus.
