Last season, Cannon featured twice in the Premier League before he was sent out on loan to Preston North End in the January transfer window.
The 20-year-old centre forward turned some heads with his performances and scored eight goals in 20 appearances for the Championship outfit.
There have been question marks over what Everton would do with Cannon this summer, but now they have made a decision and are ready to let him go out on loan this summer to continue his development; the forward has no shortage of takers in the transfer market.
Preston boss Ryan Lowe is an admirer of Cannon’s talents and he previously expressed his desire to take the forward back on loan next season.
Stoke City and Birmingham City are keen on the player and the latter have already contacted Toffees boss Sean Dyche regarding a deal.
Sunderland are also in search of a forward and they are also interested in a permanent transfer for Cannon, which could depend on the sale of Ross Stewart.
Newly promoted Sheffield Wednesday have also joined the mix but have yet to step up their interest in the Everton star.
However, it has been suggested that Dyche will only let Cannon move if the Toffees manage to recruit players in the forward department.
