Sativa Investments PLC (LON:SATI) has said its current financial year has begun well, with 2019 first quarter revenues exceeding total revenues in the group’s first year of trading.
In a brief trading statement to coincide with Wednesday’s annual general meeting, Geremy Thomas, founder and chief executive officer of the medicinal cannabis and wellness cannabidiol (CBD) group said: "Sativa is delivering real revenues in a new and exciting sector. Key value drivers include manufacturing capability, testing, brands and distribution."
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The Company also noted that, since the year-end, it has announced two overseas CBD oil take-off agreements, appointed RSM as auditor, appointed a Director of Regulatory Affairs and also a retail professional to oversee the roll-out of the Goodbody wellness centres, the first of which opens in Bath on 28 June 2019.
In April 2019, the Company entered in to into a three-year research agreement with King's College London to research the impact of cannabinoids on inflammation and respiratory diseases.
The NEX-listed firm also said all resolutions were duly passed at today’s AGM including its proposed name change to Sativa Group PLC, which, now ratified by shareholders, will be completed within days.