Its horror run included a $3.6 million cybersecurity loss after it said it was duped into making payments for works at the Mildura facility to an unknown third party to become the victim of asophisticated cyber fraud against the company and its overseas contractor.
On Friday, the cannabis retailer added it raised $4.46 million from retail shareholders as part of a July capital raising, although it initially targeted $11.7 million.
It has also flagged plans to raise cash by lodging a claim for a government tax refund in financial 2023, alongside a potential deal to sell part of its cultivation facilities and certain business assets for $5.48 million to medicinal cannabis rival Sativate Ltd.
Some of the cash raised will be used to support plans to produce 12.5 tonnes of cannabis on an annualised base, the company said.
Sean Hocking
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