Equinox International Holdings PLC, a 'land-to-brand' medical cannabis business, announced its intention to float on AIM. It hopes to raise funds to build a cultivation, extraction and production facility.
"The UK medical cannabis market is forecast to be one of the largest in Europe and Equinox has a significant first-mover advantage to build a British champion and transform patients' lives," said Xan Morgan, co-founder and chief executive of Equinox.
“Our wholesale distribution strategy and land-to-brand focus will enable us to become a leading, vertically integrated medical cannabis company providing consistent, high-quality products.”
Among its roll call of directors is the Lord Great Chamberlain of England, the Queen's representative in parliament. The vertically integrated group is one of only a handful of businesses the Home Office approves to grow cannabis.
The group is chaired by Michael Abbott, co-founder and boss of Columbia Care Inc (CSE:CCHW, OTCQX:CCHWF, NEO:CCHW), one of the largest pharmaceutical manufacturers of cannabis-related medicines in the US.
Also on the board are Baroness Zahida Parveen Manzoor, a Tory peer, and David Cholmondeley, 7th Marquess of Cholmondeley, and the Great Chamberlain of England.