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CANN GLOBAL LIMITED (ASX.CGB)

ASX Announcements (courtesy of ASX)

201920202021202220232024

ASX, Legal & CGT Status

SHARE PRICES

(updated at weekends)
Former (or subsequent) names
CompanyFROMTO
CANN GLOBAL LIMITED25/01/2019
QUEENSLAND BAUXITE LIMITED23/02/201125/01/2019
AUSTRALIAN GOLD INVESTMENTS LIMITED23/02/2011
Shareholder links
Our website ranking of CGB: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare Sydney
Level 3, 60 Carrington Street, Sydney NSW 2000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 2 8235 8150
RegistryWebsite RegistryEmail

Company details
ISIN: AU0000038085
Address: Level 21, 133 Castlereagh Street, SYDNEY NSW 2000
Tel:  +61 (0)2 8379 1832 Fax: 02-9291-9099

Date first listed: 14/01/2008
Company Secretary: Alex Neuling

Sector: Pharmaceuticals Biotechnology & Life Sciences
Industry Group: XMJ
Activities: Medical cannabis/mining

Shareholders in this company should consider crystallising a capital loss in 2023/24 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

02/03/2024

delisted by ASX under Listing Rule 17.12

01/03/2024

we understand ASX removed the company from listing because it failed to lodge documents with ASX for a continuous period of one year after they were due

01/03/2024

The Company is currently in the process of applying to ASIC to change auditors from Nexia Sydney to HLB Mann Judd. The process is expected to be completed during March. The Company will then work with the new auditors to finalise its outstanding 2023 annual report and despatch it to shareholders as soon as possible. The Company is also now in the final stages of finalising the due diligence and terms of the potential transaction. Once the terms of the transaction are finalised, the Company will then make an application to ASX for the re-quotation of the Company's shares.

28/02/2024

The material transaction being pursued by CGB, because of which the trading of the company's securities was suspended, did not satisfy regulatory hurdles, notwithstanding its assessed commercial merit. CGB has continued to progress detailed due diligence on the Thailand acquisition that the Directors believe to be a major opportunity for our Company. The Board views the proposed acquisition opportunity as a way to enable the Company to distribute cannabis products to the growing large Thailand market and subsequently, into European markets and Australia. The Company has made submissions to ASX regarding the Proposed Transaction and, subject to lodgement of its outstanding financial reports, aims to work with the ASX on satisfying the requirements that will need to be undertaken by the Company to complete the Proposed Transaction and enable the Company to resume trading on the ASX.

01/12/2023

CGB has continued to review and progress opportunities and is currently concluding detailed due diligence on what Directors believe to be a major opportunity for the Company. The Company has entered into an exclusive dealing agreement to acquire assets in Thailand with the view to becoming a major international force in the cannabis industry. The Board views the proposed acquisition opportunity as a way to enable the Company to distribute cannabis products to the growing large Thailand market and subsequently, into European markets and Australia. he Company has agreed to issue the vendors of the Thailand Assets 8,500,000 fully paid ordinary shares in the capital of the Company (approximate value of $178,500 at $0.021 a share) to secure a 6 month hard exclusivity period while the Company completes the legal and regulatory elements of this acquisition in order to finalise final acquisition terms. The delay in the release of its outstanding financial reports is primarily due to the process of considering a change of auditor and internal staffing restructuring. CGB requests an extension to the current voluntary suspension, pending release of a definitive announcement regarding this proposed acquisition. It is expected that the announcement will be able to be made by Thursday 30 November 2023.

24/10/2023

The company releases a notice of application for quotation of securities.

24/10/2023

The material transaction that was supposed to be concluded did not satisfy regulatory hurdles, nothwithstanding its assessed commercial merit. CGB has continued to review and progress opportunities and is currently concluding detailed due diligence on what Directors believe to be a major opportunity for the Company. Additional time will be required to complete the legal and regulatory elements of this process as required by the ASX. CGB requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition, as referenced in the Company's original suspension request. It is expected that the announcement will be able to be made by Friday 20 October 2023.

15/09/2023

Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Monday, 21 August 2023 would have its securities suspended from Official Quotation before the commencement of trading on Tuesday, 22 August 2023. The following entity has failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2024 and consequently will have its securities suspended from quotation immediately. The company has failed to pay to ASX the annual listing fees for the year ending 30 June 2024, and its securities are already suspended from quotation.

22/08/2023

CGB has continued to review and progress opportunities and is currently concluding detailed due diligence on what Directors believe to be a major opportunity for our Company. Whilst CGB had expected that this would be able to be concluded and announced prior to the expiry of the current voluntary suspension on 11 August 2023, additional time will be required to complete the technical, legal and regulatory elements of this process. CGB requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition, as referenced in the Company's original suspension request. It is expected that the announcement will be able to be made by Friday 15 September 2023. The Company is not aware of any reason why the request should not be granted.

11/08/2023

CGB has continued to review and progress opportunities and is currently concluding detailed due diligence on what Directors believe to be a major opportunity for the Company. Further time will be required to complete the corporate, legal and regulatory elements of the process. CGB requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition. It is expected that the announcement will be able to be made by Friday 11 August 2023.

03/07/2023

The Company is not yet in a position to make an announcement at this time. CGB requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition, as referenced in the Company's original suspension request. It is expected that the announcement will be able to be made by Friday 30 June 2023.

12/05/2023

The Company announces further streamlining of core business brands and implementing additional cost-cutting measures to preserve shareholder funds. Leaders in the Australian Cannabis sector met recently to address the challenges that have impacted the industry since the change in legislation in February 2016. Despite strict regulatory requirements, failed businesses, and the COVID-19 pandemic affecting investor confidence, delegates recognized the solid foundations laid for future growth and remain focused and optimistic on the sector's success moving forward. The Company has faced similar challenges. These delays have required continual readjustments of key business strategies, timelines, and trajectory whilst dealing with the challenges of global supply issues, government regulatory delays and a difficult economic trading environment as sharp rises in interest rates continue to impact investor and business confidence. The Board has prioritized fund preservation over expenditure whilst maintaining solid forward operating funds and carrying $0 long-term debt. Sholom Feldman Managing Director has offered to take a 50% reduction in remuneration for the duration of the suspension period until an announcement regarding the proposed acquisitions can be made to market. CGB requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition, as referenced in the Company's original suspension request. It is expected that the announcement will be able to be made by Friday 28 April 2023.

04/04/2023

The company is undertaking a complete and thorough due diligence with each acquisition proposal, which includes all and any associated regulatory compliance. The company requests an extension to the current voluntary suspension, pending release of an anouncement regarding a proposed acquisition. The announcement is expected to be made by 24 March 2023.

24/02/2023

The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report.

01/02/2023

The Company has been evaluating a number of potential acquisitions in line with its business activities and interests in consultation with key stakeholders, advisors and regulators. In pursuit of the best opportunity for its shareholders, the Company has been in formal discussions with those companies that have presented "˜value-based' business opportunities to CGB. To ensure compliance with the ASX Listing Rules, the Company has taken the necessary time to conduct thorough due diligence. CGB requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition. The announcement is expected to be made by 24 February 2023.

31/01/2023

The Company is not yet in a position to make an announcement at this time. CGB requests an extension to the current voluntary suspension, pending release of an announcement by the Company regarding a proposed acquisition. It is expected that the announcement will be able to be made by Tuesday 31 January 2023.

30/12/2022

Further to the Company's request for suspension on 23 September 2022, the Company is not yet in a position to make an announcement at this time. CGB requests an extension to the current voluntary suspension, pending release of an announcement by the Company regarding a proposed acquisition, as referenced in the Company's original suspension request. It is expected that the announcement will be able to be made by Friday 23 December 2022

09/12/2022

The company releases the results of its meeting.

01/12/2022

The company is not yet in a position to make an announcement at this time. CGB requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition. The announcement is expected to be made by 9 December 2022.

25/11/2022

The Company is not yet in a position to make an announcement at this time. CGB requests an extension to the current voluntary suspension, pending release of an announcement by the Company regarding a proposed acquisition, as referenced in the Company's original suspension request. It is expected that the announcement will be able to be made by Friday 25 November 2022.

11/11/2022

The company requests an extension to the current voluntary suspension, pending release of an announcement regarding a proposed acquisition. The announcement is expected to be made by 11 November 2022.

28/10/2022

The Cann Global Limited Annual General Meeting will be held on Wednesday, 30 November 2022 at 3:00pm (AEDT) at Level 21, 133 Castlereagh St, Sydney NSW 2000.

27/10/2022

The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report.

21/10/2022

The company requests an extension to the current voluntary suspension, pending the release of an announcement regarding a proposed acquisition. The announcement is expected to be made on 28 October 2022.

14/10/2022

The company releases its Appendix 4G and Corporate Governance Statement.

13/10/2022

The company lodges its Annual Report to shareholders.

03/10/2022

Further to the Company's request for suspension on 23 September 2022, the Company is not yet in a position to make an announcement at this time. CGB requests an extension to the current voluntary suspension, pending release of an announcement by the Company regarding a proposed acquisition, as referenced in the Company's original suspension request. It is expected that the announcement will be able to be made by Friday 14 October 2022.

03/10/2022

The securities of Cann Global Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CGB, pending the release of an announcement regarding a proposed acquisition.

23/09/2022

The suspension of trading in the securities of Cann Global Limited will be lifted immediately, following the release by CGB of an announcement regarding current research initiatives.

15/06/2020

Successful in vitro and in vivo trials to stop the progression of MS using a unique cannabis strain. In some cases, the damage was also significantly reversed. The Technion has found a chemovar that can effectively kill CD4 T cells that have become destructive instead of productivev, which causes the damange to the body by the immune system in MS. The Technion is isolating and identifying the molecules within the strain that is responsible for the therapeutic effect, withe the goal of creating a pharmaceutical product to safely treat MS without the detrimental side effects found in current MS treatments. The company is now engaging with the Tecchnion to plan concurrent clinical trials to test the same chemovar on other damanging immune malfunctions that can be caused by destructive T cells in other diseases. Clinical trials in Israel using whole Cannabis extracts are very different from traditional pharmaceutical clinical trials and do not require phase 1 of safety and toxicity.

15/06/2020

The company provides an update on issues with SUN and COVID-19 delays. The company has entered a new cultivation agreement with AA Bio Co Ltd. Purchase orders were received for a total value of USD $750,000.

15/06/2020

The Company is still in discussions with the ASX finalising the announcement and is not yet in a position to make the announcement at this time, and requests an extension to the current voluntary suspension, pending release of an announcement by the Company regarding current research initiatives. It is expected that the announcement will be able to be made by Monday 15 June 2020.

11/06/2020

CGB requests a further extension to the current voluntary suspension, pending release of an announcement by the Company regarding current research initiatives, as referenced in the Company's original trading halt request. It is expected that the announcement will be able to be made by Friday 5 June 2020.

03/06/2020

CGB requests a further extension to the current voluntary suspension, pending release of an announcement by the Company regarding current research initiatives. It is expected that the announcement will be able to be made by Tuesday 2 June 2020.

28/05/2020

The Company is still in discussions with the ASX and is not yet in a position to make the announcement at this time, and requests an extension to the current voluntary suspension, pending release of an announcement by the Company regarding current research initiatives. The announcement is expected to be made by 27 May 2020.

25/05/2020

The securities of Cann Global Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CGB, pending the release of an announcement regarding current research initiatives.

20/05/2020

The suspension of trading in the securities of Cann Global Limited will be lifted immediately following the release by CGB of an announcement regarding an institutional investment into CGB.

19/03/2020

The company releases a notice of Proposed issue of Securities - CGB.

19/03/2020

The company has entered into agreements for the refinancing of the convertible notes currently on issue through an assignment and variation arrangement between the company, L1 Capital Global Opportunities Master Fund and Obsidian Global GP, whereby Obsidian has agreed to buy out the convertible notes from L1. Upon L1 receiving the funds from Obsidian, L1 has agreed to re-invest a further $862,000 into the company by way of a placement of $250,000 for 25,000,000 new shares at 1c per share and $612,000 in return for 680,000 new convertible notes issued jointly by CGB and CGB's wholly owned subsidiary Medical Cannabis Research Group Pty Ltd to be repaid in the first instance by MCRG in 8 months from the issue date, or otherwise by CGB. Proceeds from the capital raising are expected to be applied towards furthering the commercialisation of the MS research being undertaken by MCRG in conjunction with the Technion in Haifa, Israel, and for general working capital.

19/03/2020

The company requests an extension to the current voluntary suspension, pending an announcement regarding institutional investment into the company. The announcement is expected to be made by 23 March 2020.

19/03/2020

The securities of Cann Global Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CGB, pending the release of an announcement regarding an institutional investment into CGB.

17/03/2020

The suspension of trading in the securities of Cann Global Limited (formerly Queensland Bauxite Limited) will be lifted from the commencement of trading on Friday, 23 August 2019, following CGB's re-compliance with Chapters 1 and 2 of the Listing Rules.

22/08/2019

The suspension of trading in the securities of Cann Global Limited is expected to lift and the company reinstated to official quotation at the commencement of trading on Friday 23 August 2019, following its re-compliance with Chapters 1 and 2 of the ASX Listing Rules. The Company raised $5,950,000 pursuant to the offer under its replacement prospectus dated 7 June 2019 by the issue of 170,000,000 shares at an issue price of $0.035 per share and 85,000,000 free attaching options exercisable at $0.10 each on or before 30 April 2020.

21/08/2019

ASX have received confirmation that the final documents are now en route via courier from overseas. Upon receipt of these documents by the ASX to satisfy the remaining relisting conditions, a formal relisting notice with the exact relisting date and time will be issued on the ASX announcements platform. CGB therefore anticipates that its securities will be reinstated to trading on the ASX mid to late next week.

16/08/2019

The public offer for 170,000,000 shares to raise $5,950,000 closed fully subscribed. All conditions to the public offer have been satisfied. The offers have closed and all issues of securities under the offers have been completed. CGB confirms that all conditions precedent to the agreements between the company and the vendors of MCL, T12 and HHC have been satisfied and the agreements have been completed.The Board looks forward to the relisting of the company's shares to trading on the ASX.

09/08/2019

The company is in the process of providing the ASX with all the paperwork confirming completion of all the transactions, completion of all the share issues, receipt of all the required escrow agreements, and the related required relisting documentation.

10/07/2019

The company releases the results of its general meeting.

02/07/2019

The company releases a replacement prospectus for an offer of up to 170,000,000 new shares at an issue price of $0.035 per share to raise up to $5,950,000, with a minimum subscription of $1,995,000 together with one (1) free attaching option for every two (2) shares subscribed for and issued.

11/06/2019

During cultivation trials of the various Cannabis cultivars, Andrew Kavasilas, MCL's Technical Director, reported that he had identified the very rare and unique "˜Triploid' characteristic in a particular species of Cannabis plant. As part of Stage 1 of the "˜Tabulum Project', the Research Division of MCL, are happy to report on the outdoor results from the Triploid Trial Crops which continue to be assessed as part of a two (2) year seasonal crop rotation program. Cann Global looks forward to presenting the market and its shareholders the results of the Stage 2 "˜Tabulum Project' in early 2020.

07/06/2019

The company releases a notice of general meeting. The meeting will be held at 1pm (EST) on 2 July 2019 at Level 16, 1 Market St Sydney, NSW.

31/05/2019

On 24 May, the company lodged a supplementary prospectus with two typographical errors left over from an earlier prospectus template where in two places it referred to this "ninth" supplementary instead of referring to this "fifteenth" supplementary. The amended version will be sent to well over 1,000 current applicants.

27/05/2019

The company lodges its Half Year Accounts.

24/05/2019

The company issues a fifteenth supplementary prospectus.

24/05/2019

ASX has confirmed that based solely on the information contained in the recent extensive and detailed documentation and correspondence between the company and the ASX, nothing has come to ASX's attention: that would cause ASX to exercise its discretion to refuse admission to the official list under listing rule 1.19; and that would cause ASX to determine that the company's proposed structure and operations are not suitable for a listed entity for the purposes of listing rule 1.1 condition 1. The company will now progress with the relisting process.

15/05/2019

The company issues a fourteenth supplementary prospectus.

18/04/2019

The company issues a thirteenth supplementary prospectus.

22/03/2019

The company issues an twelfth supplementary prospectus.

22/02/2019

The company issues an eleventh supplementary prospectus.

08/02/2019

A materially strategic MOU has been entered into with Biohealth Pharmaceuticals. This strategic alliance will assist Cann Global Limited to move its production schedule of Medical Cannabis formulations and nutraceutical Hemp Food consumables forward to 1H 2019, focusing on potentially lucrative short-term revenues to further establish CGB in the emerging Cannabis industries.

08/02/2019

The company lodges its Quarterly Activities and Cashflow Report.

01/02/2019

The company issues a supplementary prospectus.

25/01/2019

name changed from Queensland Bauxite Limited

25/01/2019
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    Directors' on-market share transactions (last 5)

     

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    Directors & Executives (current)
    NAMETITLEDATE OF APPT
    David AustinNon Exec Chairman, Independent Director15/04/2008
    Sholom FeldmanCEO09/11/2007
    Jonathan CohenIndependent Director02/07/2019

    Date of first appointment, title may have changed.

    Directors & Executives (former)
    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Marion LesaffreCOO28/08/202024/02/2023
    John EasterlingIndependent Director02/07/201931/05/2022
    Pnina FeldmanChairman12/04/200730/08/2021
    Meyer GutnickNon Exec Director04/03/201402/07/2019
    Paul StephensonNon Exec Director07/10/200804/03/2014
    Russell WilliamsNon Exec Director18/04/201107/02/2014
    Geoffrey GanderNon Exec Director09/11/200715/10/2008
    Simon PecoverNon Exec Director12/04/200706/03/2008

    Date of first appointment, title may have changed.