Spinnaker Opportunities PLC Update on Medicinal Cannabis RTO (5086Z)
21 September 2020 - 4:00PM
UK Regulatory
TIDMSOP
RNS Number : 5086Z
Spinnaker Opportunities PLC
21 September 2020
21 September 2020
Spinnaker Opportunities plc
("Spinnaker" or the "Company")
Update on Medicinal Cannabis RTO
Spinnaker notes the positive announcement made on 18 September
2020 by the Financial Conduct Authority covering the eligibility of
certain categories of cannabis-related businesses for admission to
the Official List.
Spinnaker confirms that it has re-started all project
work-streams with the objective of completing its proposed
acquisition of Kanabo Research Ltd ("Kanabo") and the admission of
the enlarged group to trading on the London Stock Exchange as soon
as possible.
The full text of the announcement made by the Financial Conduct
Authority can be found at;
https://www.londonstockexchange.com/news-article/market-news/listings-of-cannabis-related-businesses/14690682
The Company looks forward to providing further updates in due
course.
For further information, please visit
http://www.spinnakeropportunities.uk/ or contact the following:
Peterhouse Capital (Financial Adviser and Joint Broker)
Tel: +44 (0)20 7469 0930
Guy Miller/ Lucy Williams / 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 3224
Megan Ray / Tim Blythe
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
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 will
focus on the distribution of Cannabis-derived products for medical
patients, and THC-free CBD products for consumers. Kanabo has
conducted extensive R&D 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. Research and validation
activities, including safety and efficiency tests, are conducted in
the company's research centre in Israel.
Kanabo is currently undertaking a pilot sales scheme to measure
key performance indicators in relation to the sale of its range of
THC-free CBD 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.
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END
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