AfriAg Global Plc - Proposed Medicinal Cannabis Investment Strategy PR Newswire

25 June 2018 

AfriAg Global PLC

(“AfriAg Global” or the “Company”)

Proposed Expansion of Investment Policy to Include the Medicinal Cannabis Sector

AfriAg Global PLC, the London listed global food and logistics group, announces that its Board of directors have resolved that at the next general meeting of shareholders of the Company, the Company intends to put a resolution to shareholders to expand the Company’s existing investment policy to include investment opportunities in the medicinal cannabis sector.

The Directors believe that there are numerous investment opportunities within both private and public businesses that operate in the legalised medicinal cannabis sector in jurisdictions that are internationally recognised as having well-developed and reputable laws and regulations that govern this sector.

On adoption of the proposed new investing policy, the Company intends to appoint a medicinal cannabis advisory board comprising individuals with the relevant experience and knowledge in the sector to carry out appropriate due diligence on assets and businesses in the medicinal cannabis sector and to provide on-going monitoring of investments once made. Prior to any investments being made the Company intends to conduct legal, accounting and technical due diligence using appropriately qualified personnel for such activities and shall in particular seek and obtain appropriate legal advice to ensure that any investments or partnerships made will comply in all respects with the laws in those jurisdictions in which investments are made as well as the laws of the United Kingdom.

The Company’s Chairman has experience in this sector, serving as Co-Chairman of Canadian listed LGC Capital Ltd, which is currently engaged with investments and potential investments in Canada, Jamaica, Europe and Australia.

David Lenigas, AfriAg Global’s Chairman commented; “The legalised global cannabis industry is a fast-growing sector with many international governments legalising the use of cannabis products for medical use. Medical Cannabis for the treatment of Epilepsy has even managed to gain significant interest in the UK over recent weeks as it is doing in a number of countries around the world. AfriAg Global and its management team considers that it can bring a tremendous amount of cultivation, processing and global logistics expertise to this fast-growing sector. We will not be limiting our investment search in this sector to any one country or region and we see the growing European markets as ones of particular interest.

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

-ENDS-


Doriemus Plc:                      +44 (0)20 7440 0640
David Lenigas (Executive Chairman)
Anthony Samaha (Finance Director)
Hamish Harris
Donald Strang

Peterhouse Capital Limited         +44 (0)20 7469 0930
Guy Miller
Fungai Ndoro