Cann Group Limited provided revenue guidance for the year ended June 30, 2023. Cann expects to report unaudited product sales revenue of approximately $13.5 million, before accounting for services, for the 12 months ending 30 June 2023 representing a 111% increase on FY22 revenue ($6.4 million). Strong market demand saw revenue from the sale of dried flower products increase by approximately 500% on FY22 and is the base for continued growth as the company scales up production.

This improvement was driven by the domestic market, with the strong sales momentum supported by new clients entering into supply agreements, and several existing clients with repeat orders. Customer acquisition has been strengthened by Cann's ability to supply consistent quality, GMP product from the flagship facility in Mildura, achieved through state- of-the-art cultivation and manufacturing processes. FY23 production output at Mildura was 2.2 tonnes.

In May 2023, Cann planted the largest crop in the Company's history, representing 8 tons annualised yield. This crop will be harvested in July 2023.