Ananda Developments Plc - hapac® Update and Convertible Loan PR Newswire

21 September 2018

ANANDA DEVELOPMENTS PLC

(“Ananda” or the “Company”)

hapac® Update and Convertible Loan

The directors of Ananda Developments Plc  (NEX:ANA) are pleased to provide shareholders with the following update on the progress of its investee company, Liberty Herbal Technologies (“LHT”).  In addition, the Company is announcing a £300,000 convertible loan facility to enable the Company to take advantage of investment opportunities as they arise.

hapac® Update

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, Melissa Sturgess, Executive Director of Ananda, was appointed  a director of LHT.

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 Italy, under licence from LHT.  First sales will be through Easyjoint’s store in Milan.  Please visit www.easyjoint.it.

Convertible Loan Facility

The Company also announces that it has signed a £300,000 convertible loan facility agreement with Charles Morgan and Melissa Sturgess, both Directors of the Company (the “Loan”).

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 0.2 pence in the Company (“Ordinary Shares”) at a price of 0.75 pence per share, a premium to the current share price.

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.

--ENDS—



Ananda Developments plc          +44 (0)739 269 6517

Executive Director
Melissa Sturgess

Investor Relations         ir@anandadevelopments.com
Jeremy Sturgess-Smith

Peterhouse Capital Limited       +44 (0)20 7469 0930

Corporate Finance
Fungai Ndoro
Mark Anwyl

Corporate Broker
Lucy Williams
Duncan Vasey

Celicourt Communications         +44 (0)20 7520 9261
Mark Antelme
Joanna Boon




Notes to editors

About Ananda Developments PLC

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 USA, as well as other countries around the world, changing their laws to allow for products containing constituents of Medical Cannabis to be developed, approved and sold.

A copy of the Company’s Admission Document is available at www.anandadevelopments.com and at www.nexexchange.com.

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.

http://www.anandadevelopments.com