(“Ananda” or the “Company”)
The directors of
Ananda owns 15% of LHT, the 100% owner of hapac®, a technology for inhaling medicinal cannabis. Ananda has the right of first refusal to finance the growth of LHT for the next two years, potentially increasing Ananda’s stake. Following the investment,
Since Ananda made its investment in LHT in
The LHT team consists of senior executives previously employed at British American Tobacco, one of the world’s big five tobacco companies. The team is highly experienced in product innovation and marketing and has developed hapac® from its understanding of the key consumer, technology and regulatory trends in the tobacco industry and their relevance to the nascent cannabis sector.
A recent report by BDS Analytics says that 69% of cannabis consumers in the US and
-- Its pre-packed sachets deliver a measured dose of medicinal cannabis to the user -- The manufacture of hapac® does not require the use of potentially toxic solvents or synthetic additives -- hapac® offers a more authentic experience, close to smoking but without the toxic effects of combustion -- hapac®’s patent pending sachets can be safely composted after use, making them more environmentally friendly.
The first hapac® making machine has been installed at LHT’s Italian commercial partner’s manufacturing facility and the first production 0.25g hapac® sachets containing CBD rich hemp have been delivered to their stores. In
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of the Company accept responsibility for the contents of this announcement.
Ananda Developments PLC+44 (0)739 269 6517 email@example.com Executive Director Melissa SturgessInvestor Relations Jeremy Sturgess-Smith Peterhouse Capital Limited+44 (0)20 7469 0930 Corporate Adviser Fungai Ndoro Mark AnwylCorporate Broker Lucy Williams Duncan Vasey
Notes to editors
Ananda Developments has been established as a company to invest in the developing market for medical or therapeutic Cannabis derivatives, or related products, including but not limited to nutraceuticals, dietary supplements and cosmetic products which contain Cannabis or hemp derived cannabinoids. The Directors believe that this market is growing due to an increasing number of states in the
Ananda’s investment strategy is to invest in companies, projects or products that are either progressing medical or therapeutic Cannabis research and development, or are developing or have already developed, products that contain Cannabis derived cannabinoids and require funding to progress work plans or commercialise products.