Cann Global : Response to ASX Price and Volume Query

14 October 2020

Vanessa Nevjestic

Adviser, Listings Compliance

ASX Compliance Pty Ltd

Level 40, Central Park

152-158 St Georges Terrace

Perth WA 6000

Dear Vanessa

RESPONSE TO ASX PRICE AND VOLUME QUERY

In response to your letter dated 14 October 2020, Cann Global Limited (ASX: CGB, Company) advises as follows:

1. The Company is not aware of any information concerning it that has not been announced which, if known, could be an explanation for recent trading in the securities of the Company.
2. Not applicable.
3. The Company is not aware of any other explanation for the price change and increase in the volume of trading in the securities of the Company. The Company notes, however, that:
4. • the referenced intra-day low on 13 October 2020 represents a historically low valuation for the Company's businesses from which base the observed price increase to date represents only a minor recovery when compared to 2019 levels;
   • the Company has recently released its audited Annual Report demonstrating ongoing strong growth in revenues and gross profits as well as pleasing progress across the Company's divisions, notwithstanding which the CGB share price remained at historical lows. In this context, market participants may be considering the Company to be undervalued; and
   • it is possible that the observed increase may also be representative of an improvement in investor sentiment towards well-positioned participants in the sectors in which the Company operates.
5. The Company is in compliance with the Listing Rules and, in particular, Listing Rule 3.1.

Yours sincerely

Alex Neuling

Company Secretary

Level21, 133 CastlereaghStreet,

Sydney NSW2000 -Australia

Cann Global Limited - ABN 18 124 873 507

Telephone: [phone]

[e-mail]

www.canngloballimited.com

14 October 2020

Reference: ODIN26021

Mr Alexander Neuling

Company Secretary

Cann Global Limited

Level 21, 133 Castlereagh Street

SYDNEY NSW 2000

By email: [e-mail]

Dear Mr Neuling

Cann Global Limited ('CGB'): Price and Volume Query

We note the change in the price of CGB's securities from an intraday low of $0.004 on Tuesday 13 October 2020 to an intraday high of $0.008 on Wednesday 14 October 2020.

We also note the significant increase in the volume of CGB's securities traded from Tuesday 13 October 2020 to Wednesday 14 October 2020.

Request for Information

In light of this, ASX asks CGB to respond separately to each of the following questions and requests for information:

1. Is CGB aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
2. If the answer to question 1 is "yes".
3. 1. Is CGB relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in CGB's securities would suggest to ASX that such information may have ceased to be confidential and therefore CGB may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is "yes", you need to contact us immediately to discuss the situation.
   2. Can an announcement be made immediately? Please note, if the answer to this question is "no", you need to contact us immediately to discuss requesting a trading halt (see below).
   3. If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?
4. If the answer to question 1 is "no", is there any other explanation that CGB may have for the recent trading in its securities?
5. Please confirm that CGB is complying with the Listing Rules and, in particular, Listing Rule 3.1.
6. Please confirm that CGB's responses to the questions above have been authorised and approved under its published continuous disclosure policy or otherwise by its board or an officer of CGB with delegated authority from the board to respond to ASX on disclosure matters.

When and where to send your response

This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by no later than 3:20 PM AWST today Wednesday, 14 October 2020. If we do not have your response by then, ASX will likely suspend trading in CGB's securities under Listing Rule 17.3. You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A, CGB's obligation is to disclose the information "immediately". This may require the information to be disclosed before the deadline set out in the previous paragraph.

ASX Limited [[Listings]]

ASX Customer Service Centre 131 279 | asx.com.au

ASX reserves the right to release a copy of this letter and your response on the ASX Market Announcements Platform under Listing Rule 18.7A. Accordingly, your response should be in a form suitable for release to the market. Your response should be sent to me by e-mail at [e-mail]. It should not be sent directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform.

Listing Rules 3.1 and 3.1A

Listing Rule 3.1 requires a listed entity to give ASX immediately any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity's securities. Exceptions to this requirement are set out in Listing Rule 3.1A. In responding to this letter, you should have regard to CGB's obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 - 3.1B. It should be noted that CGB's obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter.

Trading halt

If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is "yes" and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in CGB's securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:

• the reasons for the trading halt;
• how long you want the trading halt to last;
• the event you expect to happen that will end the trading halt;
• that you are not aware of any reason why the trading halt should not be granted; and
• any other information necessary to inform the market about the trading halt, or that we ask for.

We may require the request for a trading halt to be in writing. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted.

You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions.

Suspension

If you are unable to respond to this letter by the time specified above ASX will likely suspend trading in CGB's securities under Listing Rule 17.3.

Enquiries

If you have any queries or concerns about any of the above, please contact me immediately.

Yours sincerely

Vanessa Nevjestic

Adviser, Listings Compliance (Perth)

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ASX Customer Service Centre 131 279 | asx.com.au