Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Sativa Investments buys UK medicinal cannabis lab for £435K

“PhytoVista provides a UK-based laboratory facility available to all jurisdictions already testing CBD products commercially, and of course able to service the UK market if and when regulatory changes hit the UK too," said Sativa executive director Mark Blower
Sativa says the purchase price was below the market value of assets and equipment

Sativa Investments PLC (NEX:SATI) has agreed to buy PhytoVista Laboratories, a UK-based lab that tests cannabis oils and hemp products, for £435,000.

The British medicinal cannabis investment vehicle will pay £235,000 in cash and £200,000 worth of shares at 0.04p per share to buy PhytoVista from Carbon Managers Limited.

READ: Sativa Investments positions itself for 'huge opportunity' in medicinal cannabis

Carbon is wholly owned by Sativa’s chief executive Geremy Thomas but he was not involved in the decision-making for the deal.

Sativa independent directors Noel Lyons and Mark Blower assessed the deal and consulted Dr. Stuart Ungar, who is a member of the company's medicinal cannabis advisory board.

Sativa said the purchase price was well below the market value of the assets and equipment acquired. If purchased new, the equipment laboratory would cost more than £580,000, the company said.

“Every batch of medicinal cannabis including CBD oil requires stringent testing, including for cannabinoids, pesticides, heavy metals and mycotoxins, along with full testing for terpenes, residual solvents and microbiology,” Blower said.

“PhytoVista provides a UK-based laboratory facility available to all jurisdictions already testing CBD products commercially, and of course able to service the UK market if and when regulatory changes hit the UK too."

PhytoVista has preferred partner status to the UK's Cannabis Trades Association for batch testing of medicinal cannabis products.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full SATI profile View Profile

Sativa Investments Timeline

Related Articles

April 12 2018
Mission is to make stem cell treatments accessible and affordable to as many people as possible
picture of addict
November 15 2017
To build the UK's first £1bn, self-sustainable biotech is the aim for chief executive Clive Dix
June 06 2018
Ventripoint received key FDA approval to sell the device with the four-chamber heart analysis last month

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use