Why the Cann Group (ASX:CAN) share price is up 76% this week

Published

5 years ago

November 25, 2020

The Cann Group Ltd (ASX: CAN) share price has continued its sensational run and is rocketing higher again on Wednesday.

In afternoon trade the cannabis company’s shares are up a further 12% to 56.5 cents.

This means the Cann Group share price is now up an incredible 76% week to date.

Why is the Cann Group share price rocketing higher this week?

Investors have been fighting to get hold of the company’s shares this week after the release of an update on its debt facility.

On Monday, Cann revealed that it has received credit approval from National Australia Bank (ASX: NAB) for a $50 million secured debt facility.

These funds will be used to complete the first stage of its state-of-the-art medicinal cannabis production site…

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