Companies / CAN

CANN GROUP LIMITED

ASX:CANPharmaceuticals, Biotechnology & Life Sciences
1.66B shares on issueASX (delayed) · snapshot 11 Sept 20261.87B fully diluted+12.8% if every option and right converts$0.005price · delayed$8.3Mmarket cap · indicative

Today’s holders own 88.7% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Share count grew 254% in 24 months; 8 cash raises in 24 months; options/rights overhang 13% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway8.0 quarters of funding
Share-count growth (24m)254.3%
Raise cadence (24m)8 cash raises
Options & rights overhang12.8% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

CANN GROUP LIMITED's ordinary share count grew 254.3% between September 2024 and June 2026, reaching 1.66B shares. In the past 24 months, the company raised capital eight times for total disclosed proceeds of A$16.9M, with the most recent being a A$750K placement (Convertible securities facility) in March 2026. Options and rights on issue could convert into 212M new shares, representing 12.8% of the current share count, with the nearest expiry in November 2026; none are currently in the money. As of the June 2026 quarter, the company held A$1.8M in available cash, sufficient for approximately 8.0 quarters at its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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12.8%
Options & rights overhang
0.0%
In-the-money supply
2
Raises · last 12 months
8.0 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 1.66B per ASX (delayed) (snapshot 11 Sept 2026).
0.5B1.0B1.5BDec 24Oct 25Sept 26Cash raise · 16 Mar 2026Cash raise · 22 Oct 2025Cash raise · 7 Apr 2025Cash raise · 3 Apr 2025Cash raise · 11 Mar 2025Cash raise · 6 Mar 20251.66B

Cash runway

8.0 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about June 2028 at the reported spend rate.
$1.8M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $487k cash at quarter end (item 4.6). Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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14 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
6 July 20263H · cancellationCAN : ORDINARY FULLY PAID1.66BAppendix 3H
18 June 20262A · quoted issueCAN : ORDINARY FULLY PAID1.66BAppendix 2A
22 May 20262A · quoted issueCAN : ORDINARY FULLY PAID1.64BAppendix 2A
1 May 20262A · quoted issueCAN : ORDINARY FULLY PAID1.63BAppendix 2A
15 Apr 20262A · quoted issueCAN : ORDINARY FULLY PAID1.61BAppendix 2A
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62 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

8 cash raises in the last 24 months · 2 in the last 12 months

every 2.5 monthsaverage gap between raises
5.9 monthssince the most recent
4 Oct 2024 – 16 Mar 2026first to most recent in this window
$750k
Placement (Convertible securities facility)
16 Mar 2026 ACTIVE
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9 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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16 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 99% of the 15% placement capacity left — about 1% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

12.8%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
211.9M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered211.3M · 12.7% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered554k · 0.0% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 211.3M priced, 554k where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
105.9M211.9M$0.005 now0.25× today ($0.001) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.004) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.015) — 66.4M of the priced supply in the money, 4.0% of shares on issue5× today ($0.025) — 100.4M of the priced supply in the money, 6.0% of shares on issue10× today ($0.050) — 152.7M of the priced supply in the money, 9.2% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.005 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 66.4M (4.0% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 554k (0.3% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
  • 58.6M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
CANAOOptionsPrice-triggered$0.2311 Nov 202613.5MFiling
CANANOptionsPrice-triggered$0.0802 Dec 202618.8MFiling
CANAWOptionsPrice-triggered$0.0512 June 20277.9MFiling
CANAVOptionsPrice-triggered$0.0572 June 20271.7MFiling
CANAZOptionsPrice-triggered$0.0304 June 202749.4MFiling
CANAABOptionsPrice-triggered$0.01524 Dec 202763.4MFiling
CANAAAOptionsPrice-triggered$0.02324 Dec 202729.7MFiling
CANAIOptionsPrice-triggered$0.224 Apr 2028800kFiling
CANAQOptionsPrice-triggered$0.06030 June 20294.9MFiling
CANAROptionsPrice-triggered$0.08030 June 20294.9MFiling
CANASOptionsPrice-triggered$0.1030 June 20294.9MFiling
CANAPOptionsPrice-triggered$0.08031 Oct 20291.2MFiling
CANAAOptionsPrice-triggered$0.01430 June 20303.0MFiling
CANABOptionsPrice-triggered$0.02330 June 20303.0MFiling
CANADOptionsPrice-triggered$0.03530 June 20303.0MFiling
CANAEOptionsPrice-triggered$0.02331 Oct 20301.2MFiling
CANACPerformance rightsCondition-triggered——554kFiling Meeting

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

2 classes ceased in the last 12 months and are not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • CANAACConverts on terms350k securities → 06 July 2026 Appendix 2A
  • CANALConverts on terms146k securities → 08 Jan 2026 Appendix 2A
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17 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
24 Dec 2025Jenni PilcherOther placement4.8M13.4M4.3M—3Y notice
24 Dec 2025Mike RyanOther placement2.6M2.6M——3Y notice
10 Dec 2025Doug RathboneOther—600k——3Y notice
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13 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

31 Aug 2026$PFY26 Results
31 Aug 2026$PPreliminary Final Report
29 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
13 July 2026Change of Auditor
6 July 2026Notification of cessation of securities - CAN
3 July 2026$PIncrease to Private Credit Loan Facility
29 June 2026$PEarly Redemption of Convertible Notes
29 June 2026Ceasing to be a substantial holder
18 June 2026Application for quotation of securities - CAN
26 May 2026Change in substantial holding
22 May 2026Application for quotation of securities - CAN
10 May 2026Final Director's Interest Notice
4 May 2026$PCann announces leadership transition
1 May 2026Application for quotation of securities - CAN
28 Apr 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
15 Apr 2026Application for quotation of securities - CAN
20 Mar 2026Change in substantial holding
18 Mar 2026Cleansing Notice
18 Mar 2026Notification regarding unquoted securities - CAN
18 Mar 2026Cleansing Notice

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.