ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

AFRI Afriag

0.085
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Afriag LSE:AFRI London Ordinary Share IM00B3VVCM89 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.085 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Afriag Share Discussion Threads

Showing 2101 to 2117 of 2125 messages
Chat Pages: 85  84  83  82  81  80  79  78  77  76  75  74  Older
DateSubjectAuthorDiscuss
13/4/2021
06:46
3 April 2021

Apollon Formularies PLC
(“Apollon̶1; or the “Company”;)

ADMISSION TO TRADING ON AQSE GROWTH MARKET AND FIRST DAY OF DEALINGS

CONSENT FROM APOLLON LIMITED SHAREHOLDERS

Apollon Formularies PLC (AQSE: APOL) is pleased to announce that admission of the Company's ordinary shares to trading on AQSE Growth Market ("Admission") will take place and dealings will commence at 8.00 am GMT today, Tuesday 13 April 2021, under the ticker “APOL” (ISIN: IM00BJ0LRD77).

Highlights

Successful £2.5 million fundraising at 5p which was oversubscribed. Peterhouse acted as corporate broker
Apollon’s Jamaican affiliate has a federal licensing framework that allows it to operate a fully integrated seed to patient business
Apollon’s Jamaican affiliate’s processing laboratory based in Negril, Jamaica is able to produce high volumes of full spectrum medical cannabis oil, using both high and low THC cannabis plant material
Apollon’s Jamaican affiliate’s R&D licence allows its medical team to undertake full spectrum, medically supervised treatments and conduct clinical trials as approved by the Jamaican Ministry of Health
Proceeds will be used to, among other things, scale up operations, identify international customers for its high quality oils, commercialise development of its 3D-printer for production of medical cannabis sublingual, oral and suppository products, and continue its R&D in an effort to develop the Apollon product line range of both high and low THC oils and products, expand cultivation and processing of its formulations and increase capacity and international export for its medical cannabis treatments
The Company notes that the Vendors of Apollon Limited, voted their shares 100% (excluding those shares already owned by the Company) in favour of the Offer.

Dr Stephen Barnhill, CEO of Apollon Formularies Plc, says:

"Today we achieved an important milestone and I am proud of the team and the work that has been done to get us here. With a full listing on the AQSE Growth Market, we will now set about to scale up our already impressive operation.

“Apollon currently holds a unique position as one of the few listed European companies able to undertake medically supervised treatments inclusive of utilising THC to allow for drug discovery and the development of additional formulations to add to our already successful product line range. This listing in London offers investors the opportunity to be a part of a full spectrum medical cannabis company as it moves to implement its international growth strategy. This is an exciting time for our Company, as well as the entire medical cannabis space across the UK and Europe, and we look forward to updating the market as we continue to deliver upon our strategy.”

About Apollon

Apollon Formularies plc is an international medicinal cannabis pharmaceutical company. Apollon Formularies Jamaica Limited (“AFJ”) is the principal entity with which Apollon has an interest. AFJ is a government licenced medicinal cannabis company incorporated in Jamaica and is licensed and approved to cultivate, process, perform research and development for, and sell medical cannabis therapeutic products.

AFJ is currently producing pharmaceutical, nutraceutical, and other medical cannabis related products, including 3D printed sublingual, suppositories and capsules. It was established to advance the current significant commercial opportunities in the legal medical cannabis markets globally.

Key strengths

AFJ operates at the Federal level in Jamaica and holds a suite of licences that allows it to be a fully operational, vertically leveraged medical cannabis enterprise
AFJ’s cultivation licence allows it to develop and grow strains of cannabis for medicinal uses
AFJ’s Processing Laboratory is based in Negril, Jamaica, and is able to produce full spectrum medical cannabis oil, which is inclusive of THC
AFJ’s R&D licence allows it to undertake initiatives for drug discovery using THC and other cannabinoids to develop a range of products that are backed by clinical data
AFJ’s science and medical professionals have developed and use proprietary artificial intelligence to identify compounds and develop formations that can be productized, tested, clinically trialed, and then used on various illnesses under medical supervision
AFJ owns and operates a therapeutic medical cannabis dispensary onsite in Jamaica
AFJ has created and/or obtained, identified, developed, and commercialised several proprietary hybrid medical cannabis pharmaceutical strains, technology, formulations, and treatment products
AFJ’s vertically licenced, full spectrum medical cannabis framework gives the Company the unrivalled ability to perform medically supervised treatments
The Directors of the Company accept responsibility for the contents of this announcement.

- Ends -


For additional information please contact:

Apollon Formularies
Tel: +44 207 907 9314
Stene Jacobs stene@apollon.org.uk

Peterhouse Capital Limited (Corporate Adviser)
Tel: +44 207 220 9795
Guy Miller gm@peterhousecapital.com

Blytheweigh (Financial PR/IR-London)
Tel: +44 207 138 3204
Tim Blythe tim.blythe@blytheweigh.com
Megan Ray megan.ray@blytheweigh.com

the chairman elect
19/3/2021
08:25
Has Lenigas dumped his 124m Afriag shares now? He doesn't appear on the Afri website list of shareholders any more. If so, he obviously isn't expecting big things from the Apollon RTO - which will of course see him, Strang and Harris stepping down from the Afriag where-did-our-assets-go scam.
pr100
16/3/2021
10:28
Interesting ... so who's going to do this peer review and based on what human based data / factual evidence)?

TMS interview states:-

"The only other company permissioned to use THC in its formulas and have FDA-approved prescription cannabidiol medicine is GW Pharmaceuticals which has been bought by Jazz Pharmaceuticals for $7.2 billion."

Presumably their competitor then GW Pharma ... Only 2 vs APOs 7/9 offerings.

archie222
16/3/2021
10:10
Frankly, it's a load of BS until/unless Apollon submit their trial results for peer review. Has any review been published in The Lancet or any other respected medical journal? Barnhill & Co can make grandiose claims as much as they like but they mean nothing without peer review. In fact, without peer review (by independent, non-cannabis affiliated world experts), Apollon runs the risk of being labelled a scam. We also need to know what patents of any worth are currently owned by the company as Barnhill sold all his good patents years ago.
pr100
16/3/2021
09:46
Very explanatory interview with Stene Jacobs.
mirandaj
23/2/2021
07:10
Tuesday 23 February, 2021
Afriag Global Plc
Proposed RTO, Re-Admission to AQSE and £2.5M Raise
AfriAg Global PLC

(“AfriAg”; or the “Company”;)

23 February 2021

PROPOSED REVERSE TAKEOVER AND RE-ADMISSION TO AQSE AND £2.5 MILLION EQUITY RAISE

AfriAg is pleased to announce that, further to previous announcements made during 2019 and 2020 whereby it had acquired 2.68% of Apollon Formularies ltd (“Apollon̶1;), a vertically integrated fully licenced medical cannabis company, it now intends to acquire the remaining issued share capital of Apollon it does not already own (the “Offer”). The initial consideration was paid in cash amounting to £1,160,000 and it is proposed to acquire the remainder of Apollon through the issue of new ordinary shares as consideration for Apollon.

The Company is currently working on re-admission of the enlarged share capital to the AQSE Growth Market, together with a fundraise (“Admission221;). Concurrently with Admission, and subject to receipt of all necessary regulatory approvals the conditional £2,500,000 fundraising (as described below in “Equity Raise”) by way of placing and subscription of new ordinary shares will support, amongst other things, further research, development and medically supervised trials using full spectrum medical cannabis oils and formulations inclusive of THC.

In view of the size of the Offer relative to the Company and voting control of the Company, the Offer constitutes a reverse takeover under the AQSE Growth Market Rules and is therefore conditional, amongst other things, on the approval of Shareholders.

The Company expects that Admission post approval by regulators and shareholders to become effective in March 2021.

On Admission and subject to shareholder and regulatory approval, it is proposed that the Company change its name to Apollon Formularies PLC.

Equity Raise

The Company has received firm commitments for £2,500,000, before expenses, (through a combination of c. £2,000,000 in placing shares and c. £500,000 in subscription shares, for new ordinary shares of 0.1 pence each in the Company at a price of 5 pence per share. This funding will become unconditional and the placing and subscription Shares will be issued on Admission.

About Apollon – Information supplied by Apollon Formularies

Apollon Formularies is an international medicinal cannabis pharmaceutical company. It conducts business through investments and contractual arrangements with various persons and entities. Apollon Formularies Jamaica Ltd (“AFJ”) is the principal entity with which Apollon has an interest, which will exist pursuant to the Commitment Agreement, conditional to Admission. AFJ is a government licensed medicinal cannabis company incorporated in Jamaica and is licensed and approved to cultivate, process, perform research and development, and sell medical cannabis.

Key strengths

Medically supervised treatments
Apollon’s fully licenced full spectrum framework gives the company unrivalled ability to perform medically supervised treatments
Jamaica’s regulations mean that Apollon’s medically supervised treatments can be conducted using its own cannabis-based formulations along with placebos to reveal the medicine’s efficacy
Use of artificial intelligence
Laboratory machine learning (AI) is used to identify compounds that can be used on various illness under medical supervision to create range of products that are backed by clinical data
The AI analyses plant genetics and phenotypes to determines the best combination of cannabinoids, terpenes and flavonoids to target and optimise treatment of diseases
Processing & extraction
o Apollon’s Processing Laboratory is based in Negril, Jamaica and is able to produce full spectrum medical cannabis oil (Inclusive of THC)

o Apollon intends to start large scale cultivation in H2 2021 of their patented APM strain of medical cannabis flower

Apollon Formularies Jamaica is licensed to operate at the Federal level in Jamaica and holds the following licences:
Human Research & Development
Cannabis Cultivation
Retail Dispensary
Retail Therapeutic
Processing
A “Tier 3” Conditional Cultivation approval is expected around Q3 2021
Conditional Export Approval
Apollon has created and obtained proprietary hybrid medical cannabis pharmaceutical strains, technology, formulations, and treatment products. Many of these formulations were created using Apollon’s proprietary artificial intelligence techniques and include:
Apollon NAUSEA™
Apollon PAIN™
Apollon SLEEP™
Apollon ANTI-INFLAMMATORY482;
Apollon SEIZURES™
Apollon APPETITE™
Apollon CANCER™ (APM™) – High Times Cannabis Cup 1st Place Winner
Summary

Apollon Formularies will through its subsidiary AFJ develop, market, distribute and sell full spectrum (inclusive of THC) products in the legal hemp and medical cannabis industry. It is currently producing pharmaceutical, nutraceutical and other medical cannabis related products, including 3D printed sublingual, suppositories and capsules. Apollon Formularies was established to advance the current significant commercial opportunities in the legal medical cannabis markets globally.

In addition to operating the businesses and activities permitted under the Licences, the company also intends to operate businesses and seek investments and financial interest arrangements throughout the world where legally permitted to do so in companies, projects, services and/or products that are:

progressing medicinal cannabis research and development and obtaining intellectual property interests;
producing or cultivating medicinal cannabis;
producing or supplying medical products and services derived from or related to medical cannabis (including, but not limited to, hemp and cannabidiol products);
commercialising or marketing medicinal cannabis and its derivatives; and/or
complementary to the medical cannabis business of the Company even if not directly involving medical cannabis.
The Directors of the Company accept responsibility for the contents of this announcement.

- Ends -


For additional information please contact:

AfriAg Global PLC
David Lenigas lenigas@monaco-capital.com

Apollon Formularies
Tel: +44 207 907 9314
Kevin Sheil kevin@apollon.org.uk
Stene Jacobs stene@apollon.org.uk

Peterhouse Capital Limited (Corporate Adviser)
Tel: +44 207 220 9795
Guy Miller gm@peterhousecapital.com

Blytheweigh (Financial PR/IR-London)
Tel: +44 207 138 3204
Tim Blythe tim.blythe@blytheweigh.com
Megan Ray megan.ray@blytheweigh.com

the chairman elect
07/9/2020
08:05
Are you talking to me Longrod? A bloke told me that you go around making false criminal accusations about people who disagree with you about the value of the investments you pump. Is that right?
pr100
07/9/2020
07:30
Bloke told me the other day you've been to prison in south africa for fraud?

is that right?

longrod
06/9/2020
12:44
PR100

Are you ready for the greatest show on AQUIS?

Sit back and watch this.

Although to be fair to you I do concede this has taken far longer than it should but it's been a volatile world of late.

The humour coming up here is that no amount of moaning from you is going to change anything.

Just enrage you, should be a good laugh!

Everyone should have some but thats not investment advise DYOR etc.

longrod
16/7/2020
07:16
Yesterday's Afriag 2019 accounts confirm that their South African assets were sold for £1 and that the company made a record loss of £2.5m.

The touted Apollon UK deal hasn't happened and may never happen. No-one in their right mind would invest in a Jamaican tourism-related medical business business when the cruise ships have stopped sailing - and especially when cheap cannabis is available everywhere in a flooded market.

It's weird that Apollon UK claims to be entitled to receive 95% of the profits of Apollon Jamaica but 95% of zero is zero so that can be discounted. Locals won't be paying top dollar for prescription cannabis when they can grow their own at home; and the tourists have disappeared. In any event, Docs Place Negril which hosts the Apollon Jamaica facility has only had two TripAdvisor reviews since 2017 and one of those was a warning to steer clear of the place.

But based on the done deal to acquire 2.68% of Apollon UK for £1m, Afriag will also be buying the right to acquire 49% of Apollon Jamaica. Why that should appeal at all when Apollon UK are already entitled to receive 95% of Apollon Jamaica's "profits" is a head scratcher.

Also troubling is the stated plan to buy the entire issued share capital of Apollon UK. Based on the terms of the initial deal, the remaining shares in Apollon UK will cost a ridiculous £36m (which is a bit rich for a company which struggled to raise £1m last year). Afriag would then be entitled to receive 100% of 95% of nothing. Compelling stuff.

Like all Lenigas madcap deals, this one is pure nonsense, looks like a scam and should be avoided like the plague.

The more likely scenario is that Apollon Jamaica, Apollon UK and Afriag Plc all go bust within weeks.

pr100
01/6/2020
06:53
Apollon Jamaica looking likely to go bust as tourism falls off a cliff:
pr100
01/6/2020
06:48
Apollon suffering from pandemic as Jamaica tourism collapses:



Meanwhile Afriag must be out of cash and heading for the knackers' yard since their chances of raising more look ultra-slim. Did they really receive nothing for the South African logistics investments (which won 1st prize in the hotly contested Worst Lenigas Deals Ever Contest)?

pr100
12/5/2020
13:02
How can Afriag claim to already own shares in Apollon UK [Apollon Luminaires Ltd) when two owners already account for the full 100% according to the bible (Companies House)?
pr100
12/5/2020
12:30
Fishy stuff at Apollon - Doc's Place looks dead and Afriag can't possibly own any shares in Apollon UK…
pr100
08/11/2019
07:50
How can shareholders vote for these resolutions when the circular fails to mention the key fact - the agreed sale price for the African assets?

The circular *implies* that the sale proceeds will be £0 but in typical Lenigas smoke-and-mirrors style, fails to confirm.

The justification for the sale appears to be a first-half loss for Afriag Global Plc of £865k; but Lenigas has told us that the big money rolls in during the second half. And the Plc's annual reports show that Afriag (Pty) Ltd has made a profit every year since 2013, so the chances are high that they will end up reporting a profit for 2019 too. Even the 2019 interims show that Afriag (Pty) Ltd contributed a profit share of £12,000 so it continues to thrive.

And let's not forget how Afriag (Pty) Ltd's revenues have grown from peanuts to almost £15m since allegedly receiving the £1.3m invested by Afriag Plc.

To be specific, the Plc has received the following 40% profit shares from Afriag (Pty) Ltd:

2019 £12,000 (half year)
2018 £97,000
2017 £72,000
2016 £42,000
2015 £143,000
2014 £4,000
2013 £1,831

You can argue that a company turning over £15m should make more profit but any profit is golden - and perhaps the numbers have been massaged in order to minimise tax.

In any event, Afriag (Pty) Ltd with its contacts, infrastructure, knowhow, revenues and profits is worth a lot of money to the right buyer. Arguably £10m but let's drop that to £5m if 2019 is looking borderline.

So, 40% of that would at least see Plc shareholders getting their investment cash back with interest. Any attempt to sell the stake for less should be voted down.

Note too that the intracompany debt of £626k is to be merely transferred to the buyer. Why not pay it back to the Plc as part of the deal?

This looks like a truly awful deal which effectively robs Afriag Global Plc shareholders of their investment in Afriag (Pty) Ltd which had risen to £1.68m by 2018. Don't let Lenigas and Robillard/Kajee get away with it.

See how Afriag (Pty) Ltd has performed here:

pr100
06/11/2019
19:00
SPOT THE DIFFERENCE:

A:

B:

You'll struggle. The November 2019 Apollon/Doc's Place story is almost identical to the November 2017 Apollon/Doc's place story.

The 2017 venture failed very quickly. The most recent TripAdvisor review is dated 2017. Fast forward to 2019 and the only real change apart from a lick of paint is that Afriag's long-suffering shareholders are part-funding another groundhog day.

It's still a shabby bar with three shabby rooms and a dubious plan to conduct cannabis research on any guests/patients. The website is a shambles and there are no published reviews by new visitors.

And Afriag only has a small stake in a vague UK company which claims to have rights to acquire a stake in the Jamaican operation. These rights are unverified and therefore amount to BS. It looks like a fast track to failure.

Afriag PIs need to hold Lenigas to account. He's having a laugh at their expense.

pr100
05/11/2019
08:16
As forecast, the sun did set on Afriag today. PIs are being taken to the cleaners so should vote against the proposed consolidation and disposal.

The Plc's itemised assets after the disposal are virtually worthless and they include zero cash - so the conclusion must be that the Afriag subsidiaries are to be sold for £1. Based on reported turnover and profits to date, these subsidiaries would be worth a considerable amount but shareholders look destined to receive nothing from their flagship investment (which is par for the course with Lenigas investments).

Demand to see the full accounts published by the subsidiaries. You can't reach an informed decision without knowing the true picture.

It's another complete disaster for long-suffering Lenigas followers. You were warned.

pr100
Chat Pages: 85  84  83  82  81  80  79  78  77  76  75  74  Older

Your Recent History

Delayed Upgrade Clock