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Spinnaker Opports - Additional Subscription

RNS Number : 9445I
Spinnaker Opportunities PLC
06 April 2020
 

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 £40,000 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.

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

Camilla Horsfall / Megan Ray

 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 in order 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 [email protected] or visit www.rns.com.
 
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Quick facts: Spinnaker Opportunities Plc

Price: 4.65

Market: LSE
Market Cap: -
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