Kanabo Group PLC Oversubscribed Placing to Raise GBP2.25m (3345C)
21 Febrero 2022 - 11:15AM
UK Regulatory
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RNS Number : 3345C
Kanabo Group PLC
21 February 2022
Kanabo Group plc
("Kanabo" or the "Company")
Oversubscribed Placing to Raise GBP2.25m
Issue of Warrants
Kanabo Group Plc (LSE:KNB) the pan-European medical cannabis
company that focuses on developing and commercialising
cannabis-derived products for medical patients and wellness CBD
consumers, is pleased to announce that is has successfully
completed a GBP2.25 million fundraising (the "Fundraise") via the
company's broker, Peterhouse Capital Limited.
Avihu Tamir, CEO of Kanabo Group plc, commented; "We are pleased
to report strong investor support for the Company from both
existing and new investors. The Company has a well-developed plan
to deploy the proceeds from the placing to accelerate its stated
strategy to become one of Europe's leading 'product to patient'
medical providers for millions of people who suffer from a range of
conditions including chronic pain, anxiety and central nervous
system diseases as well as looking after their general health and
wellbeing."
Details of the Placing
The fundraise was oversubscribed and completed by way of a
placing of 28,125,000 new ordinary shares of 2.5 pence each in the
Company ("Placing Shares") at a price of 8p per share. The Placing
Shares being issued will represent approximately c.7% of the
Company's enlarged Ordinary Share capital following the Placing by
Peterhouse Capital.
Each Placing Share issued pursuant to the Fundraise has half a
warrant attached granting the holder the right to subscribe for an
additional half a new ordinary share at an exercise price of 16
pence for a period of 18 months following Admission ("New Ordinary
Share"). Further to this, each Placing Share issued pursuant to the
Fundraise also has half a warrant attached granting the holder the
right to subscribe for an additional half a New Ordinary Share at
an exercise price of 24 pence for a period of 24 months following
Admission, subject to the publication of a prospectus by the
Company.
When issued, the Placing Shares and New Ordinary Shares will be
credited as fully paid and will rank pari passu in all respects
with the existing Ordinary Shares in the share capital of the
Company, including the right to receive all dividends and other
distributions declared, made, or paid on or in respect of such
shares after the date of issue of the Placing Shares.
Application will be made to the Financial Conduct Authority for
admission of the Placing Shares to the standard listing segment of
the Official List and to the London Stock Exchange (the "LSE") for
admission to trading of the Placing Shares on the LSE's Main Market
for listed securities (together "Admission"). It is expected that
Admission will take place at 8.00 a.m. on or around 25 February
2022 and that dealings in the Placing Shares on the LSE's Main
Market for listed securities will commence at the same time.
Total Voting Rights
For the purposes of the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules, Kanabo Group Plc announces that
the Company has 401,322,778 ordinary shares of 2.5p each in issue
("Ordinary Shares"), each share carrying the right to one vote. The
figure of 401,322,778 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 Guidance and Transparency Rules.
The Directors of the Company accept responsibility for the
contents of this announcement.
For further information, please visit
http://www.kanabogroup.com/ or contact the following:
Kanabo Group Plc
Avihu Tamir, CEO Via Vox Markets
Peterhouse Capital Ltd (Financial Adviser) Tel: +44 (0)20 7469 0930
Eran Zucker / Lauren Riley
Peterhouse Capital Limited (Corporate Broker) Tel: +44 (0)20 7469 0930
Lucy Williams / Charles Goodfellow / Duncan Vasey / Martin Lampshire
Vox Markets (Investor Relations) KanaboGroup@voxmarkets.co.uk
Kat Perez kperez@voxmarkets.co.uk
About Kanabo Group Plc
Kanabo Group Plc is creating a new standard in the medical
cannabis industry to improve the well-being of millions of people
around the world by providing a better alternative to the smoking
of medicinal cannabis flowers. Kanabo, which was the first
medicinal cannabis company to IPO on London Stock Exchange, has a
focus on the distribution of cannabis-derived products for medical
patients and non-THC products for CBD consumers. It has conducted
extensive Research & Development to produce high-quality
cannabis extract formulas, innovative medical-grade vaporizers, and
various non-smoking consumption solutions. Kanabo sells a range of
medical cannabis products and wellness CBD products in the Primary
Markets, including its VapePod, which delivers a metered dose with
every inhalation.
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