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Voyager Life PLC - Acquisition of Amphora Health

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Voyager Life plc · VOY

30/01/2024 07:00

Voyager Life PLC - Acquisition of Amphora Health
RNS Number : 2891B
Voyager Life PLC
30 January 2024


30 January 2024


Voyager Life plc


("Voyager" or the "Company") 


Acquisition of Amphora Health


Voyager, the health and wellness group formulating, manufacturing and supplying high-quality Cannabidiol (CBD), hemp seed oil and hemp-related products, is pleased to announce that it has acquired Amphora Health Ltd ("Amphora"), owner of the Amphora and Infused Amphora brands which comprise a range of CBD oils, vapour products and accessories.


The consideration payable for Amphora will be satisfied through the issue of 416,666 new ordinary shares of £0.01 each in Voyager at a price of 12 pence per share (approximately £50,000) in aggregate to Amphora's shareholders.  In addition, a further 416,666 new ordinary shares at a price of 12 pence per share may be issued in the event, inter alia, that sales of Amphora or Infused Amphora branded products exceed £100,000 over the 24 month period from completion.


Completion of the acquisition is expected to take place by 29 February 2024 at the time of the transfer of shares in Amphora to Voyager.  A further announcement will be made in due course.


About Amphora

Infused Amphora is a British CBD wellness brand founded in 2020 by Canadian industry experts to support people in reaching their wellness goals through the power of the hemp plant. The entire collection of its premium products are all natural, THC free and designed to help with a variety of everyday conditions.  The company has 23 ingestible CBD products validated on the FSA's novel foods list.


Importantly, given forthcoming changes in UK legislation, Amphora vapour products are not disposable but are currently sold in cartridges for use with a rechargeable battery and management understands that the formula can also be sold as an e-liquid for customers to refill their preferred vapour products themselves.


Amphora achieved sales in the year to 31 July 2022 (its last accounts date) of approximately £69,000 and has current inventories in excess of £50,000 (at cost). Amphora owns several online domains, including its retail website, as well as registered trademarks for "Infused Amphora" in the UK, European Union, Republic of Korea and China.


The operations of Amphora will be moved to Voyager's existing premises and management are therefore not expecting any increase in overheads at this time. No members of the Amphora team will be employed by Voyager and none of the premises or storage facilities occupied by Amphora are included in the acquisition.


Nick Tulloch, Chief Executive Officer and Founder of Voyager, said: "We are delighted to be adding into the Voyager group the well respected Amphora brands.  A 4.7 (excellent) rating on Trustpilot is testament to the quality of the products. This acquisition achieves two objectives for us.  Importantly, it provides us with 23 products validated on the FSA's novel foods list, thereby further opening up the UK market for our ingestible CBD products.  Just as significantly, it brings us into the potentially lucrative vape market with four established formulations.


"In both cases, we will aim to bring manufacturing of Amphora products into our VoyagerCann manufacturing facility, thereby lowering the cost of production and enhancing margins.


"It is also important to note, as has been the case with many of our operations, this acquisition has been achieved at very low cost.  Several of our competitors have spent considerable sums on novel foods compliance and product development.  The opportunity to combine Amphora's business with ours at a modest price is expected to be beneficial for all shareholders."


This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.





Voyager Life plc


Nick Tulloch, CEO




Tel: +44 (0) 1738 317 693


Cairn Financial Advisers LLP (AQSE Corporate Adviser)


Ludovico Lazzaretti/Liam Murray


Tel: +44 (0) 20 7213 0880

Stanford Capital Partners LLP (Broker)


Patrick Claridge  


Bob Pountney



+44 (0) 203 3650 3650


+44 (0) 203 3650 3651





Notes to Editors:


About Voyager

Voyager was founded in 2020 and is based in Perth, Scotland.  The Company's primary objective is the formulation, manufacture and supply of high quality CBD and hemp seed oil products although it also produces several other complementary products, the majority of which are manufactured from the hemp plant.  Its product categories include a pet range which has rapidly developed into one of the Company's best sellers.   The Company sells online, through third party stores and in its own stores which are located in St Andrews, Edinburgh and Dundee.  The Company has three principal retail brands: Voyager, focused on health & wellness and petcare; Ascend Skincare, its beauty range; and Amphora, with 23 products validated on the FSA's novel foods list and a range of vapes.  Voyager products are currently available from Cornwall to Shetland in online and brick-and-mortar outlets.


The Company's philosophy of plant-based health and wellness is embodied in its mission statement and hashtag of "Choose you". With an experienced team and a product line created in line with the UK's regulatory regime, Voyager aims to become the trusted brand in this increasingly popular health and wellness space.


Through Voyager's bespoke skincare product creation and development division, voyagerCann, the Company also offers a full turnkey service to other CBD, skincare and cosmetics brands assisting them in developing and launching new products with a manufacturing and distribution facility in Scotland.


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