APOL Apollon Formularies plc

TIDMAPOL

RNS Number : 3291P

Apollon Formularies plc

17 June 2022

17 June 2022

Apollon Formularies Plc

Issue of Equity

Apollon Formularies plc (AQSE: APOL, "Apollon" or the "Company") , a UK based international pharmaceutical company trading on the Aquis Stock Exchange, announces the issue of shares as consideration for the acquisition of intellectual property from Aion Therapeutics Inc. (CSE: AION).

As announced on 5 May 2022, u nder the terms of the Commitment Agreement, Apollon has acquired the following patents and all associated supporting data including the pre-clinical testing results from BIOENSIS.

   1.    Compositions and Methods for Treatment of Cancers. 
   2.    Compositions and Methods for Treatment of Inflammation. 
   3.    Methods for Treatment of Human Cancers using Mushroom Compositions. 
   4.    Methods for Treatment of Human Cancers using Cannabis Compositions. 

The Company has therefore allotted 4,348,679 new Ordinary Shares of the Company. These Ordinary Shares will be subject to a complete trading restriction for a period of six (6) calendar months from the date of the stock transfer. After the six (6) month restriction period, twenty percent (20%) of such stock received will become eligible for trading, and an additional twenty percent (20%) will be tradable at the end of each following three-month period, with all trading restrictions being fully removed at the end of eighteen (18) months.

Application will be made for the new Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective, and dealings in the new Ordinary Shares are expected to commence, on 26 June 2022.

Following this issue, the Company has 752,725,356 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 752,725,356 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

The Directors of the Company accept responsibility for the contents of this announcement.

ENDS

For additional information, please visit www.apollon.org.uk or contact:

Apollon Formularies

   Tel:                                                         +44 771 198 0221 
   Stene Jacobs                                      stene@apollon.org.uk 

Peterhouse Capital Limited (Corporate Adviser)

   Tel:                                                         +44 207 220 9795 
   Guy Miller                                           gm@peterhousecapital.com 

BlytheRay (Financial PR/IR-London)

   Tel:                                                         +44 207 138 3204 
   Tim Blythe/Megan Ray                  apollon@blytheray.com 

About Apollon and Apollon Jamaica

Apollon Formularies plc is an international medical cannabis company headquartered in the United Kingdom. Apollon Formularies Jamaica Limited is a pharmaceutical company incorporated and operating in the Commonwealth of Jamaica. Apollon Jamaica is licensed by the Jamaican government's Cannabis Licensing Authority (CLA) to cultivate, perform research and development, process, and sell medical cannabis therapeutic products that include legal medical cannabis to treat various illnesses under medical supervision. Apollon and Apollon Jamaica are parties to a Commitment Agreement whereby Apollon is entitled to 95% of Apollon Jamaica's Net Profits, and per a Stock Pledge Agreement that includes Stephen D. Barnhill, M.D., Apollon is to be assigned the entire 49% equity interest of Apollon Jamaica held by Dr. Barnhill, which is the maximum interest in a medical cannabis company allowed to be held by a non-Jamaican, upon the CLA approving the assignment.

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(END) Dow Jones Newswires

June 17, 2022 08:23 ET (12:23 GMT)

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