Spinnaker Opportunities Investors - SOP

Spinnaker Opportunities Investors - SOP

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Stock Name Stock Symbol Market Stock Type
Spinnaker Opportunities Plc SOP London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 4.65 01:00:00
Open Price Low Price High Price Close Price Previous Close
4.65 4.65
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johnyee 7: (Alliance News) - An Israeli-founded medical cannabis firm has hailed a "pivotal moment" for the sector as it edges nearer to its float on the London stock exchange. Kanabo Research Ltd, which makes vaporisers using a cannabis component, was among a raft of firms competing to become the first cannabis-related business to list in London after city regulators gave a green light last month. Last week, MGC Pharmaceuticals Ltd and David Beckham-backed Cellular Goods PLC opened for trading in London amid burgeoning interest from potential investors. Kanabo is to make its stock market debut on Tuesday in a listing expected to value the company at GBP23.2 million. The business has raised GBP6 million to fund its growth strategy following the listing. Avihu Tamir, chief executive, told the PA news agency that both retail and institutional investors were clamouring to enter the rapidly growing medical cannabis sector. "We could have secured at least GBP11 million in investment but we had to stop sooner," he said. "It's a really interesting time to be involved in the sector and investors know this. It's not just retail investors – we were surprised by the number of institutions who have already invested in Canada and are keen to join us and the others listing in London. "It's a pivotal moment for us and others in medical cannabis because that FCA (Financial Conduct Authority) decision gave us another level of accountability." Tamir said the funds will go towards further clinical trials and expanding the wellness operations of the business. The vaporiser delivers a precise one milligramme dose to users with every inhalation, he said. Simon Erridge, co-founder and trustee of medical cannabis charity Sapphire Medical Foundation, said: "The disconnect between patient demand and the access of medical cannabis is prolonging the suffering of potentially millions of patients. "News that Kanabo has developed a medical cannabis vaporising solution that delivers a quality product with a precise measured dose and expects to IPO on the LSE clearly signifies a momentum change that will improve accessibility for patients in the UK."
currypasty: tbh, im hoping we shoot through 10p very quickly.. Company must be expecting that too as its only a year time frame, and needs to be well above 10p to be worth investors converting.. Looking at that CBD company zeo that has 10 bagged on 50k of sales, we must be onto a winner here with a legitimate business, passed all the regulations, sky the limit.. I guess the main question is what are they going to do with the 6 mil cash pile? Obviously rapidly grow the business, but in what direction (s)?
currypasty: "Kanabo set a date of 16 February for its stock market debut and is setting its sights on the UK after securing £6m from investors, valuing the company at £23.2m."
currypasty: Conditional on Admission, the Company has raised gross proceeds of GBP6,000,000 in an oversubscribed fundraising, via the issue of 92,307,693 Ordinary Shares, which have been conditionally placed at the Fundraising Price of GBP0.065, predominantly by Peterhouse, on behalf of the Company with institutional and other investors (including high net worth investors) and SI Capital as Placing Agent. Spinnaker is a company incorporated in England and Wales with company number 10485105. The Ordinary Shares are registered with ISIN GB00BYQCS703, SEDOL code BYQCS70 and TIDM, conditional on Admission KNB. On Admission, the expected value of the Enlarged Group will be approximately GBP23,400,000.
currypasty: If anyone is interested in the IPO/ relist/ reverse the first step is SOP brokers Peterhouse Capital, and SI Capital. potential HNW / sophisticated investors can contact them, or get your broker to on your behalf. I shall be contacting my broker this morning, and so If / When I'm made an insider, I wont be posting any more till things are public good luck everyone
currypasty: Further to previous announcements regarding the proposed reverse take-over of medicinal cannabis company Kanabo Research Ltd ("Kanabo") (the "RTO" or the "Proposed Acquisition"), Spinnaker notes the article published in today's Financial Times and the televised interview featured on Sky News, in which Kanabo describes its business and its intentions to list on the London Stock Exchange shortly. As referenced in the article, the Board of Spinnaker can confirm that the Company, together with Kanabo, is currently undertaking an investor roadshow as part of the Proposed Acquisition. Andy Morrison, Chairman of Spinnaker, said: "The board of Spinnaker is pleased to see that the RTO is progressing well. We are particularly delighted with the range and quality of interest being shown from the UK investment community in the Proposed Acquisition, and are increasingly confident that shareholders can expect completion of the RTO shortly, subject to FCA and other relevant approvals."
currypasty: https://www.proactiveinvestors.co.uk/companies/news/918738/cannabis-legalisation-will-be-a-likely-response-to-the-uks-upcoming-desperation-for-tax-revenue-with-concomitant-opportunities-for-investors-918738.html
currypasty: 6 April 2020 Spinnaker Opportunities plc ("Spinnaker" or the "Company") Additional Subscription Further to the announcement made on 19 March, Spinnaker is pleased to confirm that a further loan note subscription of GBP40,000 has been received from two investors under the same terms. The loan notes will convert into 800,000 shares ("Subscription Shares") at a conversion price of 5p per share on the date on which the Company's shares are re-admitted to trading and the investors shall be entitled to receive one warrant for every two Subscription Shares issued ("Warrants"). The Warrants will be issued at a strike price of 5p and with validity of 3 years from the date of re-admission.
currypasty: Commenting on the developments, Andy Morrison, Chairman of Spinnaker said: "We would like to express our appreciation to the investor for their commitment since the arrangement was agreed in July 2019. The decision by the investor is not surprising in the current market environment and both the Company and the investor remain open to resuming discussions as and when conditions improve
currypasty: indeed.. ill put their website in header https://www.kanabogroup.com/investors-opportunities/
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