22 pence per share (the Placing Price )
· Placing Price represents a 10 per cent. premium to the closing mid-price of the Company s ordinary shares on
20 May 2021.
· Pre-IPO acquisition of interest over
£750,000 worth of shares in Hellenic Dynamics S.A ( Hellenic or Hellenic Dynamics ), a medical cannabis cultivator seeking a near-term listing on the London Stock Exchange;
· The investment is part of a wider strategic partnership between the Company and Hellenic Dynamics S.A.
Details
Kanabo Group Plc (LSE:KNB) announces today that it has raised gross proceeds of
£1million through the placing of 4,545,454 Ordinary Shares (the Placing ) at a price of
22 pence per share ( Placing Price ) with a range of new and existing investors. The Placing Price represents a 10 per cent. premium to the closing mid-price of the Company s ordinary shares on
Deal includes commercially attractive rates to be negotiated Raises £1m from investors Kanabo Group Plc, the medicinal cannabis company which recently successfully launched on London Stock Exchange
Greek Medical Marijuana Supplier Looks to London Stock Exchange thenationalherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalherald.com Daily Mail and Mail on Sunday newspapers.
Greek medical cannabis grower
Hellenic Dynamics aims to list on the London Stock Exchange via a reverse takeover, hoping for a valuation of £50 million
“What we were looking for was a way of listing successfully, but also having enough oomph in our listing to accelerate our plans,” Hellenic Dynamics vice president and CEO Davinder Rai told the outlet.
The company, which launched in 2019, cultivates, exports and sells THC-dominant dried cannabis flower to European markets like Germany. Hellenic is headquartered in London, but runs its cultivation operations in a 200,000 sq. meter ex-military bunker in Northern Greece, wrote City A.M.
Hellenic’s leadership team will join Sir Anthony Joliffe, a former Lord Mayor of London, who will bring “significant listed company experience.”