Cann Group chair quits

CANN Group chair Julian Chick has left the company, tendering an immediate resignation on February 10.

Dr Chick was working both as chair of Cann Group and in a full-time executive role at ReNerve Limited, a company focused on tissue regeneration.

A statement from Cann Group said his workload with ReNerve had expanded considerably and required frequent international travel, and he no longer had the capacity to dedicate to the role of chair of Cann.

He had been a board member since October 2022, and had agreed to be available for handover to a new chair during the next three months.

The company is actively recruiting for the role and had identified several suitable external candidates.

Entrepreneur Doug Rathbone will fill the role of interim chair for the time being.

The change-up comes after the company released a quarterly activities report through to December 31, 2024.

The report revealed production at the Cann Mildura facility was up 26 per cent on the prior quarter, as 1.28 tonnes of medicinal cannabis was produced from 17 cultivars.

A total of 57 people were employed at the Mildura facility, while the company had a 26.9 per cent overall reduction in head count compared to January 2024.

The report reiterated the company’s intention to pursue options to raise a further $4.175 million, after it had collected more than $2 million from existing shareholders in a non-renounceable entitlement offer in October.

The company stated it would seek to release a new product to market this month, sold under the Botanitech brand.

The report suggested Cann Group was on track to becoming one of the largest producers of medicinal cannabis in Australia, and remained likely to exceed its five tonne production target for the financial year.

Four additional “promising strains” of cannabis had been identified during evaluation at the Mildura research and development team, and plans are underway for upscaling and commercial production.