Ananda Developments Plc - Hapac® update and Grant of Options PR Newswire

18 September 2019

ANANDA DEVELOPMENTS PLC
(“Ananda” or the “Company”)

Hapac® update and Grant of Options

The Directors of Ananda are pleased to provide shareholders with the following update on the Company’s activities.

HAPAC UPDATE AND INTERNATIONAL OPPORTUNITIES

Hapac® is a dry herb medical cannabis inhalation system which was launched in various retail outlets in Italy in late 2018.  Ananda is a 15% shareholder in Liberty Herbal Technologies Limited (LHT), the 100% owner of hapac®. 

After feedback from customers in the early months of 2019, hapac® made some changes to its offering.  It introduced three different herb blends to its range and made some small technical changes to the hapac® vaping device in order to reduce the pressure drop experienced at inhalation.  The Directors have been advised that these changes were well received, with growth in sales and the commencement of repeat sales.  May and June hapac® device sales were 33 and 29 respectively and sales of hapac® sachets were 596 and 628 during the same period.  Online sales of hapac® also commenced through the website haplondon.com

Although sales of hapac® commenced in Italy at the turn of the year, hapac® and similar cannabis-based products have not been on sale in Italy for the past two months, whilst a legal hearing regarding the labelling and content of some cannabis related products is conducted in the Parma Court.  Hapac® product has been removed from sales outlets and the warehouse as part of this wider action.  LHT maintains that hapac® products comply with all relevant laws in Italy and expects that sales will re-commence when the investigation and Court hearings are complete.

Notwithstanding the above, LHT believes it has achieved proof of concept of the hapac® system and will now commence the launch of hapac® in other international markets.  This is in line with its original plans.  LHT has signed an agreement with Cannabis Innovation Finder (CIF) to assess the appetite for hapac® in Canada.  CIF is a Toronto based business development consultancy which assists cannabis tech companies with their go-to market strategy in Canada.  CIF has strong relationships with Canadian licensed producers, US multi-state operators, retailers and strategic investors.   LHT has also appointed an ex-British American Tobacco executive to assess opportunities in the USA.  In accordance with its agreement, LHT will receive Ananda’s full legal consent before signing definitive agreements.

Further information on hapac® can be found at hapac.tech.

GRANT OF OPTIONS

Dr Eli David Schmell, PhD was appointed Senior Advisor to the Board of Ananda in July 2018.  Since then, he has advised on the Company’s acquisition of interests in iCAN and LHT.

More recently, Dr Schmell has been integral to the conceptualisation and drafting of Ananda’s Home Office application for a licence to grow >0.2% THC cannabis.  His role has involved coordinating and drafting large sections of the application and his experience from the pharmaceutical world and with FDA approval processes has been invaluable in the drafting of an application that will reflect best global practice in structuring and populating a document of this nature.

In light of Dr Schmell’s contribution to the Company, the Directors have approved the issue to Dr Schmell of options over 6,300,000 ordinary shares of 0.2p each in Ananda, at an exercise price of £0.0045.  The options have a 5-year term.

-Ends-

The Directors of the Company accept responsibility for the contents of this announcement.


ANANDA DEVELOPMENTS PLC                 +44 (0)7717 573 235
Chief Executive Officer           ir@anandadevelopments.com
Melissa Sturgess

Investor Relations
Jeremy Sturgess-Smith

PETERHOUSE CAPITAL LIMTED               +44 (0)20 7469 0930
Corporate Finance
Mark Anwyl
Allie Feuerlein

Corporate Broking
Lucy Williams
Duncan Vasey

STANFORD CAPITAL PARTNERS LIMITED       +44 (0)20 3815 8880
Joint Corporate Broker
John Howes
Patrick Claridge

CELICOURT COMMUNICATIONS                +44 (0)20 7520 9266
Mark Antelme
Ollie Mills



About Ananda Developments PLC

Ananda Developments currently has three key areas of endeavour.  They include its interest in iCAN, a global leader in medicinal cannabis research and a recognized thought leader in the space; its 15% shareholding in Liberty Herbal Technologies which is the owner of the recently launched hapac® technology for the dry vaping of medicinal cannabis; and its 100% ownership of Tiamat Agriculture Limited which is pursuing a licence to grow >0.2% THC cannabis in the UK.  Ananda will seek to continue to build its footprint in the nascent cannabis sector in order to participate fully as medicinal, therapeutic and wellness cannabis grow in market acceptance.

A copy of the Company’s Admission Document is available at www.anandadevelopments.com/wp- content/uploads/2019/03/ANANDA-DEVELOPMENTS-Admission-Document-29.06.2018-FINAL- clean.pdf

http://www.anandadevelopments.com


 Notification and public disclosure of transactions by persons discharging
   managerial responsibilities and persons closely associated with them.

1  Details of the person discharging managerial responsibilities / person
   closely associated

a) Name                            Dr. Eli David Schmell, PhD.

2  Reason for the notification

a) Position/status                 Senior Investment Adviser

b) Initial notification /Amendment
                                   Initial

3  Details of the issuer, emission allowance market participant, auction
   platform, auctioneer or auction monitor

a) Name                            Ananda Developments plc

b) LEI                             894500DFM8VOC5FW4X47

4  Details of the transaction(s): section to be repeated for (i) each type
   of instrument; (ii) each type of transaction; (iii) each date; and (iv)
   each place where transactions have been conducted

a) Description of the financial
   instrument, type of instrument  Ordinary shares of 0.2p each
   Identification code



                                   ISIN: GB00BDQPXQ60

b) Nature of the transaction       Grant of options

c) Price(s) and volume(s)          6,300,000 Ordinary Shares at an exercise
                                   price of £0.0045 per share

d) Aggregated information
   - Aggregated volume
   - Price                         N/A

e) Date of the transaction         17 September 2019

f) Place of the transaction        Outside a trading venue



Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.