(“Ananda” or the “Company”)
hapac® Update and Convertible Loan
The directors of
Ananda owns 15% of LHT, the 100% owner of hapac®, a patent pending technology for vaping medicinal cannabis. Ananda has the right of first refusal to finance the growth of the company for the next two years, potentially increasing Ananda’s stake. Following the investment,
The Company is pleased to report that production of LHT’s vaporisers and hap® consumable packs (containing 4 hapac® sachets of 0.25g of medicinal cannabis each) has commenced in China. The hapac® maker machine is being manufactured and will be delivered direct to Italy. Please see www.anandadevelopments.com or www.hapac.tech for images of the hapac® vaporiser, consumable packs, hapac® sachets and hap® point of sale materials.
Three popular strains of CBD have been chosen for the launch of the product range. The CBD contained sachets will be manufactured by Easyjoint in
Convertible Loan Facility
The Company also announces that it has signed a £300,000 convertible loan facility agreement with
The Loan carries an interest rate of 10 per cent per annum, can be drawn down in tranches of £10,000 and is repayable on the second anniversary of the first drawdown. Any amount drawn down on the Loan can be converted into ordinary shares of
The loan facility ensures the Company is able to take advantage of any significant investment opportunities that may arise, without delay. No funds have yet been drawn down under the Loan facility.
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 Executive Director Melissa SturgessInvestor Relations email@example.com 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 Antelme 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.