Spinnaker Opportunities PLC Update on Proposed Medicinal Cannabis RTO (2803L)
12 January 2021 - 12:52AM
UK Regulatory
TIDMSOP
RNS Number : 2803L
Spinnaker Opportunities PLC
11 January 2021
11 January 2021
Spinnaker Opportunities plc
("Spinnaker" or the "Company")
Update on Proposed Medicinal Cannabis RTO
Further to previous announcements regarding the proposed reverse
take-over of medicinal cannabis company Kanabo Research Ltd
("Kanabo") (the "RTO" or the "Proposed Acquisition"), Spinnaker
notes the article published in today's Financial Times and the
televised interview featured on Sky News, in which Kanabo describes
its business and its intentions to list on the London Stock
Exchange shortly.
As referenced in the article, the Board of Spinnaker can confirm
that the Company, together with Kanabo, is currently undertaking an
investor roadshow as part of the Proposed Acquisition.
Andy Morrison, Chairman of Spinnaker, said:
"The board of Spinnaker is pleased to see that the RTO is
progressing well. We are particularly delighted with the range and
quality of interest being shown from the UK investment community in
the Proposed Acquisition, and are increasingly confident that
shareholders can expect completion of the RTO shortly, subject to
FCA and other relevant approvals."
For further information, please visit
http://www.spinnakeropportunities.uk/ or contact the following:
Peterhouse Capital Limited (Financial Adviser and Broker)
Tel: +44 (0)20 7469 0930
Lucy Williams / Guy Miller / Eran Zucker
SI Capital (Placing Agent)
Tel: +44 (0)1483 413 500 / +44 (0) 203 871 4038
Nick Emerson / Greg Mahoney
Notes
Kanabo is creating a new standard in the medical cannabis
industry to improve the well-being of millions around the world.
The Company will focus on the distribution of Cannabis-derived
products for medical patients, and THC-free CBD products for
consumers. Kanabo has conducted extensive research &
development at its research centre in Israel to develop
high-quality Cannabis extract formulas, innovative medical-grade
vaporisers, and various non-smoking consumption solutions, making
it easy and accessible for anyone in need of treatment.
Kanabo has also continued research & development activities
on a range of unlicensed Medical Cannabis Oils, which will be sold
alongside its medical-grade vaporisers. 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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