19 September 2019
AfriAg Global PLC
(‘AfriAg’ or the ‘Company’)
Grand Opening of Doc’s Place International, Inc. (‘Doc’s Place’) and Apollon Formularies Jamaica, Ltd. on 25 October.
Weekend Media Release, Jamaica
AfriAg Global PLC, a company whose shares are admitted to trading on London’s NEX Exchange, is pleased to announce that over the past weekend in Jamaica Apollon Formularies Jamaica, Ltd. notified the public that the grand opening of the first Global Center for Medical Cannabis Therapy will take place on 25th October 2019 in Negril, Jamaica at the facilities of Doc’s Place International, Inc. Wired JA Online News released an article on 14 September, announcing the opening (http://www.wiredja.com/index.php?option=com_k2&view=item&id=10513:jamaica-jamaica-s-first-global-centre-for-medical-cannabis-therapy-opens-in-negril&Itemid=940&utm_source=newsletter_598&utm_medium=email&utm_campaign=in-wired-ja-news-today). The opening ceremony will include a Keynote speech by the Jamaican Minister of Commerce, Industry, Agriculture and Fisheries, the Hon. Audley Shaw, whose responsibilities include authority over the Cannabis Licensing Authority (CLA) .
Apollon Formularies Jamaica. Ltd. also issued a media release in Jamaica over the weekend, stating that Jamaican legislation continues to create a solid framework within which to operate as it now moves to capitalise on the revenue earning potential and the further advancement of medical knowledge of the medicinal cannabis space. The Company beleives Apollon Formularies Jamaica, Ltd. sits at the forefront of scientific endeavour in the medicial cannabis space, with the opening of this state of the art, next generation master-planned wellness and treatment facility as well as the most modern and licenced processing and production facility in Jamaica.
AfriAg Global’s relationship with Apollon Formularies Ltd:
As previously announced, AfriAg completed an investment in Apollon Formularies Ltd (“Apollon UK”) of 2.325 per cent of Apollon UK's issued share capital and is in negotiations with Apollon UK and a majority of its shareholders to acquire all the issued and outstanding shares owned by shareholders. Further investments in, or acquisition of, Apollon UK, are subject to shareholder and regulatory approvals. Apollon UK is an indirect investor in Apollon Formularies Jamaica, Ltd. and will have the right to receive 95 percent of the net profit of Apollon Formularies Jamaica, Ltd. Apollon UK also has a right to acquire 90 percent of the issued and outstanding stock of Doc’s Place International, Inc.
Apollon Formularies Jamaica, Ltd. and Doc’s Place have completed a successful six-week pilot opening for the treatment of patients which started on Thursday 1st August 2019, to coincide with Emancipation Day and the start of the Jamaican tourist season.
The Doc’s Place facility which will have its official opening on Friday 25th October 2019, is a joint venture between Doc’s Place International, Inc., a health and wellness resort, and Apollon Formularies Jamaica, Ltd. It is located at Doc’s Place, Hotel and Resort Centre in Negril’s West End.
The goal of the Medical Cannabis Therapy Centre is to provide an environment that enhances the quality of life for those being served. It is modelled on treatment centres, spas, resorts, and hotels, that provide hospitality-oriented services in combination with personal care and well-being services.
CEO of Doc’s Place and a director of Apollon Formularies Jamaica, Ltd., Stephen D. Barnhill, MD, said, “This strategic relationship provides patients worldwide with the opportunity to receive world-class medical cannabis treatments provided by licensed physicians with special expertise in treating with medical cannabis-based pharmaceuticals in a safe, professional, medical and legal environment.”
Commenting on the new facility, Medical Director of Doc’s Place International, Inc. and a U.S. board-certified neurosurgeon, Anthony Hall, MD, said, "We are very excited about the opening of the world’s first Global Center of Excellence for Medical Cannabis Therapy in Negril, Jamaica, which will provide patients with specialized medical care for the myriad of conditions shown to be beneficially treated with medical cannabis pharmaceuticals in a Federally legal environment." Dr. Hall is supported by a team, which includes Dr. Marjorie Vassell and Dr. Alfred Dawes.
Chief Science Officer of Doc’s Place International and former professor and director of Clinical Chemistry at MD Anderson Cancer Centre, Herb Fritsche, Ph.D., pointed out: “Having the world’s first Global Center of Excellence for Medical Cannabis Therapy gives us the opportunity to do state-of-the-art research, clinical trials and development based on patient outcomes data, create and adapt pharmaceutical formulations, establish accurate therapeutic doses and develop genomic markers to better determine the proper course of treatment for patients being treated by our excellent medical team using Apollon Formularies Jamaica, Ltd.’s award-winning medical cannabis strains and cannabis-based pharmaceutical formulary.“
Paul Burke, CEO of Apollon Formularies Jamaica, Ltd., said, “We are pleased that we have a strategic relationship with Doc’s Place International to open the world’s first Global Center of Excellence for Medical Cannabis Therapy in Negril, Jamaica, and to provide legal, state-of-the-art, quality-controlled medical cannabis-based pharmaceuticals to the excellent medical team treating these patients.”
Jamaica’s Ministry of Tourism has the development of health and wellness tourism as one of its pillars for growing the tourism industry, and the Ministry of Health and Wellness recently said they hope to attract over 100,000 medical tourists to the island within the next 10 years. Doc’s Place International’s Global Center for Medical Cannabis Therapy aims to be a major contributor to this increase in medical tourists to the island.
In their media publication over the weekend, Apollon Formularies Jamaica, Ltd. stated that Medical Cannabis has been shown to be beneficial in a myriad of conditions, including prostate cancer, breast cancer, brain cancer, nausea/vomiting (chemotherapy), nausea/vomiting (sea sickness), post traumatic stress disorder (PTSD), chronic pain, arthritis, crohn’s disease/ulcerative colitis, epilepsy, glaucoma, HIV, Alzheimer’s Disease, Lupus (SLE), opioid/narcotic rehabilitation, Parkinson’s Disease, anxiety disorders and sleep disorders.
Notice Regarding Forward-Looking Statements
This announcement includes "forward-looking statements" involving the Company, the other entities referenced in this announcement, and the respective subsidiaries, affiliates and associates of the Company and such other entities (collective, the “Involved Entities”), which include all statements other than statements of historical facts, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations, and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Involved Entities that could cause the actual results, performance or achievements of the Involved Entities to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Involved Entities and the environment in which the Involved Entities will operate in the future. These forward-looking statements speak only as of the date of this announcement. The Company, on behalf of itself and each of the Involved Entities, expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in expectations of any Involved Entities with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.
The directors of the Company accept responsibility for the contents of this announcement.
For further information on AfriAg Global please visit the www.afriagglobal.com or please contact;
AfriAg Global Plc:
David Lenigas (Executive Chairman) +44 (0)20 7440 0640
Peterhouse Capital Limited +44 (0)20 7469 0930
Guy Miller/Allie Feuerlein