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Medtech M&A: Botanical Holdings secures GBP 4.5 million equity fundraising

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Botanical Holdings secures GBP 4.5 million equity fundraising to accelerate its growth in the legal medicinal cannabis sector

Investment to be used towards establishing and commissioning northern and southern hemisphere cultivation sites for supply into the EU medicinal cannabis sector

Botanical Holdings, the investment holding company focusing on the legal medicinal cannabis industry, today announces it has completed a pre-listing equity-funding round of GBP 4.5 million.

The funds secured in this round will be paid in three tranches of GBP 1.5 million each, at increasing share prices for each tranche, to reflect Botanical Holdings’ increasing value. The first tranche is available immediately, the second at the end of March 2021, and the third by the end of June 2021.

Botanical Holdings will use the funds for several essential activities.

From an operational perspective, through its subsidiary EuroCan, it will continue its first complete on-site test growing cycles in the group’s newly constructed 2,800m2 greenhouse facility in Lesotho. These test growing cycles will be used to develop valuable research and refine expertise as EuroCan continues its agronomic development in Lesotho. This will aid EuroCan in achieving GACP certification.

Botanical Holdings will also use the funds to commence construction of EuroCan’s 5,000 square meters (expanding to 20,000 square metersin due course) greenhouse and 3,600 square metershandling/processing facility in Portugal. EuroCan expects to complete construction of the Portuguese facility by the end of 2021.

From a corporate perspective, Botanical Holdings will continue to advance works for its targeted listing on the main market of the London Stock Exchange by way of standard listing, during 2021.

“Legalization of cannabis for medicinal use is accelerating around the world. This is driven by the ongoing development of new therapies using medicinal cannabis, a shift in attitudes towards its therapeutic qualities and more knowledge of its benefits,” said Carl Esprey, CEO, Botanical Holdings. “Completing this fundraising for Botanical Holdings is a vote of investor confidence in the medicinal cannabis industry, in its development of therapies for patients and in Botanical Holdings’ ability to supply inputs into this demand in the future. The funds we have raised at this time will be used for the commissioning and construction of 7,800 square metersof greenhouse facilities and 4,400 square metersof handling/processing facilities across our sites in both northern and southern hemispheres. This will enable our subsidiary EuroCan to be a major year-round supplier of raw material to the increasing demand for the medicinal cannabis sector. The planned listing of our shares on the Main Market of the London Stock Exchange will ensure that we are able to play a full role in satisfying industry demand for our products.”

About Botanical Holdings
Botanical Holdings is an investment holding company focusing on the legal medicinal cannabis industry. Botanical Holdings has established a diversified and risk adjusted portfolio of subsidiaries across the medicinal cannabis sector and value chain. These subsidiaries include 1) EuroCan, which has established operations for cultivation of cannabis for medicinal purposes in Lesotho and Portugal, 2) Southern African Hemp, a medical cannabis license holder which will cultivate hemp for CBD from a 400 hectare site in Zimbabwe, and 3) Unearthed Brands, a CBD consumer products business that has developed and will market tinctures, skincare products and other consumer goods, under the product lines ‘Unearthed’ and ‘Le’Sutu’. EuroCan has completed construction of an initial 2,800 square meters greenhouse facility in Lesotho (targeted to increase to 10,000m2), with an adjoining 800m2 facility housing production, drying, processing, packing and office space. Following receipt of initial regulatory approval in May 2020, it has started pre-construction work for a 5,000 square meters greenhouse cannabis cultivation and processing facility in Portugal with completion targeted by the end of 2021. These facilities have been designed to conform to GACP and EU GMP standards in order to develop wholesale products for the international pharmaceutical markets. Botanical Holdings has a management team that is highly experienced in pharmaceuticals, investment, corporate development, finance, law, research, agronomy and agriculture.

Vendredi 26 Mars 2021