(“Ananda” or the “Company”)
INVESTMENT INTO THE ISRAELI MEDICAL CANNABIS SECTOR
The directors of
US$200,000investment in iCAN Israel Cannabis Ltd; -- Provides exposure to a number of international medical cannabis businesses and investee companies;
Israelis an acknowledged leading global centre for medical cannabis research and development; and
-- First investment for Ananda 6 weeks after admission to the NEX Growth Market.
iCAN, established in 2015 and headquartered in
iCAN BUSINESS UNITS
CannaTech is a leading cannabis symposium and is recognised globally as a thought leader in the industry. Providing an international platform for the creation of strategic partnerships and technological developments in the global Medical Cannabis industry, CannaTech is now held on an annual basis in
iCAN Services (100%)
iCAN Services provides support to companies which are developing formulations and devices for the medical cannabis industry. Services are provided by a team of highly experienced industry insiders and science experts with an extended and engaged international network of vetted cannabis companies and professionals.
CannRx has created an advanced extraction technology called VCT, a patented vapour capture technology. The VCT creates liquid soluble cannabinoid profiles that can be used in downstream pharmaceuticals including oral dissolving tablets, sublinguals, topicals, patches and inhalation solutions.
CMTREX is building a trading platform for cannabis. It is based on a platform developed in
Ananda’s investment in iCAN provides investors with exposure to one of the leading global centres of scientific research and development in medical cannabis. iCAN has a number of business units and investments which have the ability to create value for Ananda. iCAN will also be a good source of investment opportunities in the future, especially in areas where there may be direct relevance to the legal changes in medical cannabis that are taking place in the
The CLNs, which are convertible to
Commenting on the investment, Ananda Executive Director,
“We are delighted to have entered into and cemented this relationship with iCAN. We believe they represent the best in class in the
CEO of iCAN,
“We are thrilled that Ananda has invested in iCAN as we continue to increase our footprint in the burgeoning global cannabis industry. iCAN’s expertise, rooted 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.
For further information, please contact:
Ananda Developments plc+44 (0)739 269 6517 Executive Director Melissa SturgessInvestor Relations firstname.lastname@example.org Jeremy Sturgess-Smith Peterhouse Capital Limited+44 (0)20 7469 0930 Corporate Finance Fungai Ndoro Mark AnwylCorporate Broker Lucy Williams Duncan Vasey Celicourt Communications+44 (0)20 7520 9261 Mark Atelme Joanna Boon
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.