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Share Name Share Symbol Market Type Share ISIN Share Description
Spinnaker Opportunities Plc LSE:SOP London Ordinary Share GB00BYQCS703 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 4.65 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.0 -0.4 -1.2 - 1

Spinnaker Opportunities PLC Update on Medicinal Cannabis RTO

21/09/2020 7:00am

UK Regulatory (RNS & others)


Spinnaker Opportunities (LSE:SOP)
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RNS Number : 5086Z

Spinnaker Opportunities PLC

21 September 2020

21 September 2020

Spinnaker Opportunities plc

("Spinnaker" or the "Company")

Update on Medicinal Cannabis RTO

Spinnaker notes the positive announcement made on 18 September 2020 by the Financial Conduct Authority covering the eligibility of certain categories of cannabis-related businesses for admission to the Official List.

Spinnaker confirms that it has re-started all project work-streams with the objective of completing its proposed acquisition of Kanabo Research Ltd ("Kanabo") and the admission of the enlarged group to trading on the London Stock Exchange as soon as possible.

The full text of the announcement made by the Financial Conduct Authority can be found at;

https://www.londonstockexchange.com/news-article/market-news/listings-of-cannabis-related-businesses/14690682

The Company looks forward to providing further updates in due course.

For further information, please visit http://www.spinnakeropportunities.uk/ or contact the following:

Peterhouse Capital (Financial Adviser and Joint Broker)

Tel: +44 (0)20 7469 0930

Guy Miller/ Lucy Williams / Eran Zucker

SI Capital (Joint Broker)

Tel: +44 (0)1483 413 500 / +44 (0) 203 871 4038

Nick Emerson / Greg Mahoney

Blytheweigh (Financial PR)

Tel: +44 (0) 207 138 3224

Megan Ray / Tim Blythe

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Notes to Editors

Kanabo is an Israel based company, that believes that by creating a holistic ecosystem that works together in synergy, it can create a new standard in the medical Cannabis industry and improve the well-being of millions around the world. Kanabo will focus on the distribution of Cannabis-derived products for medical patients, and THC-free CBD products for consumers. Kanabo has conducted extensive R&D to develop high-quality Cannabis extract formulas, innovative medical-grade vaporizers, and various non-smoking consumption solutions - making it easy and accessible for anyone in need of treatment. Research and validation activities, including safety and efficiency tests, are conducted in the company's research centre in Israel.

Kanabo is currently undertaking a pilot sales scheme to measure key performance indicators in relation to the sale of its range of THC-free CBD products. It is ready to scale up to meet market demands and projected sales and revenues and to grow the Kanabo brand through its marketing initiatives.

Kanabo's future long-term strategy involves continued research and development activities to develop a range of Unlicensed Medical Cannabis Oils, which will be sold alongside its vaporisation device, the VapePod Medical. It is intended that medicinal products will be sold as unlicensed medicines in the UK and Germany.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

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September 21, 2020 02:00 ET (06:00 GMT)

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