NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION (INCLUDING
· Completed the reverse takeover of
· Successfully integrated the operating systems, control environment and governance framework of
· While the ongoing COVID pandemic affected sales and forced closure of our retail stores and the CBD production facility in
o Reducing staffing levels and cutting costs across the business;
o Utilising the
o Utilised the Company's retail premises in
· Upgraded and launched to market Goodbody Botanicals and Goodbody Wellness product ranges, including the new online site goodbodystore.com.
· In the second quarter, the Company launched the
· Launched the new corporate website sativawellnessgroup.com in the third quarter.
· Awarded provisional ISO 17025 accreditation for PhytoVista laboratories in the third quarter.
· In the fourth quarter, the Company restarted the CBD extraction plant in
· Diversified the wellness range of products to include COVID testing in the fourth quarter.
· In the fourth quarter, the Company developed a fully integrated consumer marketing plan that supports and aligns with the trade activity, and refined our route to market strategy to drive sales.
· The Company's third quarter sales increased to
· Achieved record sales in the fourth quarter, an increase of 68% (un-audited) on Q3 results, achieving a record year in 2020, despite declines in sales in the first two quarters due to the impact of COVID 19.
2021 Action Plan
· Drive Goodbody brand CBD wellness sales growth in the
o Commence online sales on goodbodystore.com.
o Launch goodbodystore.eu in
o Expand product range focusing on lower price point products and adding additional cosmetic products to deliver increased consumer and trade sales.
· Complete the simplification of the Company's corporate structure to reduce overhead costs.
· Expand COVID testing services to other parts of the
· Achieve positive free cash flow from all operating businesses in the
· Explore and pilot, other wellness and testing service opportunities.
· Drive sales growth of bulk CBD isolate and distillate to pharma, cosmetic and CBD companies across the
· Grow white label (private label) sales of the Company's product lines in the
Although the world is still in the grip of the global COVID pandemic, the Company has held steadfast in our commitment to building a long-term growth company in the European CBD and wellness space. Our commitment to producing and distributing the highest quality and compliant products and services to the market also remains. The Company will continue to explore opportunities to develop its CBD and wellness products and services, as illustrated by the decision to offer COVID testing services.
All the best for a safe, healthy and prosperous 2021.
The Directors of the Company accept responsibility for the contents of this announcement.
On behalf of the Board of Directors,
Chief Executive Officer
+44 (0) 20 7971 1255
Chief Financial Officer
+44 (0) 20 7971 1255
Investor Relations and Communications
AQSE Growth Market Corporate Adviser
+ 44 (0) 20 7220 9795
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