Spinnaker Opportunities PLC Update on Medicinal Cannabis RTO (4101C)
10 Febbraio 2020 - 8:00AM
UK Regulatory
TIDMSOP
RNS Number : 4101C
Spinnaker Opportunities PLC
10 February 2020
10 February 2020
Spinnaker Opportunities plc
("Spinnaker" or the "Company")
Update on Medicinal Cannabis RTO
Further to the updates announced on 2 December 2019 and 21
January 2020 regarding the proposed reverse take-over of medicinal
cannabis company, Kanabo Research Ltd ("Kanabo") (the "RTO" or the
"Proposed Acquisition"), Spinnaker advises that Kanabo and the
Company have continued to work towards satisfaction of the
conditions for completion of the Proposed Acquisition.
From the Company's perspective it believes it is now almost
ready to proceed, upon UK regulatory approval being confirmed.
Following the UK legalising the prescription of medicinal cannabis
in November 2018, Kanabo and the Company have positioned themselves
to be one of the first cannabis-related businesses to list on the
London Stock Exchange. However, until all conditions are satisfied
and the overall listing requirements for cannabis-related companies
are confirmed by the appropriate UK regulatory bodies, there can be
no certainty that the transaction will proceed.
The full terms of the Proposed Acquisition are expected to be
set out in a prospectus to be published in due course.
For further information, please visit
http://www.spinnakeropportunities.uk/ or contact the following:
Peterhouse Capital Limited (Financial Adviser and Joint
Broker)
Tel: +44 (0)20 7469 0930
Lucy Williams / Guy Miller / Eran Zucker
SI Capital (Joint Broker)
Tel: +44 (0)1483 413 500 / +44 (0) 203 871 4038
Nick Emerson / Greg Mahoney
Blytheweigh (Financial PR)
Tel: +44 (0) 207 138 3553
Camilla Horsfall / Megan Ray
Notes to Editors
Kanabo is an Israel based company, that believes that by
creating a holistic ecosystem that works together in synergy, it
can create a new standard in the medical Cannabis industry and
improve the well-being of millions around the world. Kanabo focuses
on the distribution of Cannabis-derived products for medical
patients, and THC-free CBD products for consumers. Kanabo has
conducted extensive R&D in order to develop high-quality
Cannabis extract formulas, innovative medical-grade vaporizers, and
various non-smoking consumption solutions - making it easy and
accessible for anyone in need of treatment. Clinical and validation
activities, including safety and efficiency tests, are conducted in
the company's research centre in Israel - an established leader in
the Cannabis industry.
Kanabo is currently undertaking a pilot sales scheme to measure
key performance indicators in relation to the sale of its non-THC
products. It is ready to scale up to meet market demands and
projected sales and revenues and to grow the Kanabo brand through
its marketing initiatives.
Kanabo's future long-term strategy involves continued research
and development activities to develop a range of Unlicensed Medical
Cannabis Oils, which will be sold alongside its vaporisation
device, the VapePod Medical. It is intended that medicinal products
will be sold as unlicensed medicines in the UK and Germany.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDTLMFTMTBMBMM
(END) Dow Jones Newswires
February 10, 2020 02:00 ET (07:00 GMT)
Grafico Azioni Spinnaker Opportunities (LSE:SOP)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Spinnaker Opportunities (LSE:SOP)
Storico
Da Apr 2023 a Apr 2024