Share Name Share Symbol Market Type Share ISIN Share Description
Block Commodities Ltd NEX:BLCC NEX Ordinary Share GG00B4QYTJ50
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.007 0.006 0.008 0.007 0.007 0.007 0.00 07:58:47
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Block Commodities Ltd: Strategic Collaboration with HexisLab and Constitution of Scientific Advisory Board

29/03/2019 3:25pm

UK Regulatory (RNS & others)


Dow Jones received a payment from EQS/DGAP to publish this press release.

 
 
 Block Commodities Ltd (BLCC) 
Block Commodities Ltd: Strategic Collaboration with HexisLab and 
Constitution of Scientific Advisory Board 
 
29-March-2019 / 15:24 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
            Block Commodities 
 
            London, 29 March 2019 
 
    Strategic Collaboration with HexisLab and Constitution of Scientific 
      Advisory Board 
 
Block Commodities "BLCC", the innovative commodity trader operating in 
Africa, is pleased to announce it has reached agreement with Hexis Lab Ltd 
to enter into a collaboration program to develop therapeutic and 
cosmeceutical products from cannabis plant extracts. 
 
 HexisLab is the market leader [How is this verified?] in the application of 
  AI and machine learning to personal care product development, with a solid 
    distribution channel worldwide. The strategic collaboration will combine 
      technical knowledge and industry experience to research and develop in 
       health, wellness and personal care products, including cannabis-based 
            skincare products. 
 
HexisLab will use its proprietary development platform to identify bioactive 
compounds and peptides from medical cannabis extracts for commercial 
application. Under the terms agreed the early stage R&D initiatives are to 
be funded by Block Commodities. Hexis Lab team will work closely with Block 
Commodities' senior management team to advance the Company's development and 
commercialisation of cannabis products and services. The two companies will 
share the late-stage development cost and commercialisation of the products 
in the US & EU sharing the profits from the resultant products. 
 
Scientific Advisory Board (SAB) 
 
The Scientific Advisory Board (SAB), a selected team of highly experienced 
scientists in the medical cannabis space will advise the Company's Board of 
Directors on the development of the medical cannabis operations and products 
development and commercialisation. 
 
The CEO of HexisLab, Dr. Olusola Idowu will join the SAB. Dr. Olusola is an 
accomplished scientist with many scientific publications and patents on the 
use of natural plant extracts in therapeutics and cosmeceuticals. Previous 
research includes the development of the pharmacological use of synthetic 
cannabinoid derivatives. 
 
The Company has also appointed Ian C. Tordoff, an advisor and strategist 
specialised in health sector innovation to the SAB. 
 
Mr. Tordoff has an extensive experience with numerous bio tech firms and 
healthcare services including the NHS and Dermaltech. Ian has led teams in 
the development of more than $6bn of health care projects, both in the UK 
and internationally, advising on commercial engagement and strategy. He 
currently advises PathologyCloud and Amethyst Radiotherapy and new 
commodities trading start-up Vulcan Industries Plc. Over the last five 
years, Ian has analysed CBD treatments and its efficacies, as well as 
established links with brands, labs and the user community. 
 
Dr. Olusola commented: "HexisLab are delighted to work with blockchain 
technologies to find novel uses for cannabinoid derivatives. These compounds 
are biologically active in diverse ways but the biological systems they 
interact with plus the nature of these interactions are highly complex. Our 
technology provides new capability to identify and interpret useful 
applications in a manner not feasible using standard research technique. The 
differing nature of the impact such interactions will dictate the type of 
potential product use for the different variants that may range from 
therapeutic applications to skincare. We are also excited by the approach of 
using technology as a catalyst to sustainable economic development at the 
grass roots level in Africa. Creating products that works - works for the 
consumer, the producers and the world." 
 
Ian C. Tordoff commented: "This is the perfect time for Bloc's focus on a 
nascent and fast-growing market. We are confident in our teams' abilities to 
produce unrivalled quality and consistency of product. Our developing 
off-take network is growing so we look forward to creating an integrated 
offer which creates significant value for our growers, customers and 
investors alike." 
 
Chris Cleverly, Chairman of Block Commodities commented: "I am very excited 
to welcome both Dr. Olusola Idowu to our team. They will bring invaluable 
experience and skills in the medical cannabis and science. Medical cannabis 
has the power to transform industries from farm to pharma. Block Commodities 
looks to companies like Canopy Growth and Aurora and has brought 
experienced, respected and talented people into our team to ensure that we 
produce high quality medicinal cannabis and distribute effective products 
through innovation, research, development and thought leadership. 
 
The Board believes that ultimately quality not quantity will define success 
in medical cannabis growth, product development and distribution. As this is 
a very new industry, it means that a new entrant building on experience in 
related industries can aim to become a market leader. 
 
This is especially true as the opoid crisis has medical professionals 
scrambling for alternatives. An alternative is medical cannabis. Medical 
cannabis has a much greater functionality than just pain relief and doctors 
are testing out its remedial effects on melanomas and its success with 
multiple sclerosis and epilepsy have been noted. It has the potential to 
disrupt multibillion-dollar industries. The CBD market has huge potential 
and is now with growing awareness of its beneficial nature, has rapidly 
increasing usage. The European medical cannabis market alone will be worth 
58 billion euros a year by 2028, according to London-based cannabis industry 
market intelligence firm Prohibition Partners [1]. It reckons the total 
legal market in Europe, including CBD, will be worth 123 billion euros by 
then." 
 
            About Block Commodities 
 
Block Commodities' strategy is to maximise the value of African agricultural 
  and other commodities through the deployment of blockchain technology. The 
        resources will be linked through the vertical integration of primary 
   industries down to consumers via blockchain platforms. Using blockchain's 
ability to dynamically incorporate all market participants into an efficient 
 ecosystem, Block Commodities aims to facilitate the commercial operation of 
        such ecosystems in the context of the agricultural production cycle. 
 
      Block Commodities deploys disruptive technologies to maximise value of 
 African agriculture and help sub-Saharan African farmers raise productivity 
and secure better returns for their produce. Developing a blockchain-powered 
platform, Block integrates all commercial operations and market participants 
            into a single ecosystem. 
 
    Building on well-established connections and technology expertise, Block 
   aims to become a leading producer and processor of medical cannabis-based 
            products to service the fast-growing cannabis market in Europe. 
 
            For more information, visit: http://www.blockcommodities.com [2] 
 
The Directors of the Company accept responsibility for the content of this 
announcement. 
 
For further information, please contact: 
 
          Block Commodities Limited 
                     Chris Cleverly    info@blockcommodities.com 
 
    NEX Exchange Corporate Adviser: 
 Alexander David Securities Limited 
    David Scott - Corporate Finance         +44 (0) 20 7448 9820 
 James Dewhurst - Corporate Broking         +44 (0) 20 7448 9820 
 
     Public and Investor Relations: 
     Cassiopeia Services - Stefania  stefania@cassiopeia-ltd.com 
                          Barbaglio 
 
Note 1 
 
Are you currently a Medical Canabis trader? Have you done a trade? This is 
key and NEX is looking for a legal opinion to confirm you have not broken 
any laws in trading Cannabis. 
 
ISIN:          GG00B4QYTJ50 
Category Code: MSCM 
TIDM:          BLCC 
LEI Code:      2138001KNTXRAZTFKU51 
Sequence No.:  8008 
EQS News ID:   793829 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=79c9ea49af2db25b7be5290883129e21&application_id=793829&site_id=vwd_london&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=9bde756e7c0d782c1283fab3c60743c6&application_id=793829&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

March 29, 2019 11:25 ET (15:25 GMT)

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