NZX-listed Cannasouth (CBD) has gone into voluntary administration with trading in its shares suspended by the regulator.
Earlier this week, the firm was placed in a trading halt at its own request following a dispute with secured convertible noteholders which NZ RegCo said could prejudice a crucial capital raise. CBD has an urgent need to secure funding to remain solvent, the regulator added.
A further extension was granted this morning to allow discussions about funding to continue but this afternoon, administrators from Blacklock Rose were called in.
The appointment was made in consultation with the noteholders who, at the invitation of the board, nominated the administrators, Cannasouth told the NZX.
It ad…
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