(“Ananda” or the “Company”)
Ananda’s vision is to become a significant participant in the
Following the legalisation of medicinal cannabis in the
Maple Tree also reports that approximately 60% of medicinal cannabis prescriptions are for pain, 20% for anxiety and depression, 10% for neurological disorders and the balance for a range of other conditions. For pain and anxiety, both oil for ingestion and cannabis flower for vaping are being prescribed. Cannabis oil is prescribed for regular use and flower is prescribed for vaping when pain or anxiety peaks.
Maple Tree also reports that cannabis oil and flower are being imported from
In view of this and other evidence, the Directors believe that demand for medical cannabis will continue to grow significantly, even without its adoption by the
LICENCE TO GROW MEDICINAL CANNABIS
The Company continues to work towards its objective of being a cultivator of medicinal cannabis in the
The application to grow medicinal cannabis was submitted to the Home Office in
The Home Office has advised DJT Plants that its application has progressed successfully through internal Home Office checks and that at this point no objections have been raised. The Home Office has also advised DJT Plants that a site visit and meeting with DJT Plants’ personnel is necessary prior to licence issuance. However, due to the COVID-19 situation the Home Office is currently unable to make such a visit. It has undertaken to conduct its visit as soon as its travel restrictions allow.
The Directors remain positive and confident that the Company is well placed to provide
A computerised fly through of the proposed growing facility has been created to help provide shareholders with an indication of the nature, scope and scale of our medicinal cannabis growing plans. This can be accessed at https://anandadevelopments.com/tiamat-agriculture-ltd/.
Please refer to the Company’s announcement of
Advantages of growing medicinal cannabis in the
Ananda holds 180 shares (0.9%) in ICAN, a medical cannabis incubator and conference company. As a result of the COVID-19 emergency, ICAN has not been able to conduct conferences since
Liberty Herbal Technologies (“LHT”)
Ananda holds 15% of the equity in LHT and one board seat. Further to the update of
In particular, LHT is assessing the opportunity to have its inhaler certified for use as a medical device. This would open up opportunities in this growing sector, where the vaping of cannabis flower is the preferred dosage mechanism. LHT’s ability to deliver a measured dose of medicinal cannabis flower is an attractive, non-carcinogenic route to delivering high bio-availability medical cannabis benefits to patients.
LHT is also continuing to explore launching its offering in the US.
The Company remains funded by loans from Ananda’s Chairman,
On behalf of the Board
¹Advisory Council on the Misuse of Drugs Cannabis-based products for medicinal use (CBPMs) in humans. An assessment of the impact of rescheduling CBPMs to Schedule 2 under the Misuse of Drugs Regulations 2001 (MDR) and recommendations to mitigate the issues identified,
The Directors of the Company accept responsibility for the contents of this announcement.
Chief Executive Officer
|+44 (0)7717 573 235
|PETERHOUSE CAPITAL LIMITED
|+44 (0)20 7469 0930|
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a