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Sativa agrees to the 100% purchase of PhytoVista Laboratories

Press Release                                                                                                      Tuesday 3rd July 2018

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. 

Sativa Investments PLC 

 (“Sativa” or “the Company”) 

Sativa agrees to the 100% purchase of PhytoVista Laboratories

Sativa Investments PLC (NEX: SATI), the UK’s first medicinal cannabis investment vehicle, has agreed to purchase, for £435,000, 100 per cent of PhytoVista Laboratories (“PhytoVista”), a UK-based laboratory that tests CBD oils and hemp products. The Company will pay £235,000 in cash and £200,000 worth of shares at £0.04 pence per share.  

The vendor of PhytoVista is Carbon Managers Limited (“Carbon Managers”), of which Sativa’s Chief Executive Officer, Geremy Thomas, is the 100 per cent shareholder. Geremy Thomas and George Thomas are significant shareholders in Sativa and both are also Directors of Carbon Managers. Pursuant to the NEX Exchange Growth Market Rules for Issuers, the transaction therefore constitutes a related party transaction. Geremy Thomas is not involved in any of Sativa’s decision-making process in relation to this purchase. 

PhytoVista’s laboratory equipment was procured at a significantly discounted price and purchased new today would cost at total in excess of £580,000.

In making its assessment regarding this acquisition, the independent Directors, being Noel Lyons and Mark Blower, have consulted Dr. Stuart Unger, MB,BS,(U.Lond), MRCP(UK),MRCS(ENG), a member of the Company’s Medicinal Cannabis Advisory Board. Dr Unger, having reviewed the laboratory and its equipment, has advised the Independent Directors that, in his view, the purchase price of £435,000 paid by the Company is significantly below the open market value of the assets and equipment acquired. 

Mark Blower, Executive Director of Sativa Investments, said: “Every batch of medicinal cannabis including CBD oil requires stringent testing, including for cannabinoids, pesticides, heavy metals and mycotoxins, along with full testing for terpenes, residual solvents and microbiology. PhytoVista provides a UK-based laboratory facility available to all jurisdictions, already testing CBD products commercially, and of course able to service the UK market if and when regulatory changes hit the UK too.” 

PhytoVista enjoys preferred partner status to the UK’s Cannabis Trades Association (“CTA”) for batch testing of medicinal cannabis products.  

Mike Harlington, Chairman of the CTA, said: “Batch testing of product is a vital part of our industry. On behalf of our members we look forward to working with the PhytoVista team.”

Following the purchase, Geremy Thomas, CEO, holds 225,000,000 Ordinary Shares in the Company, representing 50.92% of the enlarged issued share capital of the Company.

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

 

–  Ends  –

For further information please contact:

 

Geremy Thomas
Founder & Chief Executive Officer
Sativa Investments PLC
+44 (0) 20 7971 1255
enquiries@sativainvestments.com

 

NEX Exchange Corporate Adviser 
Guy Miller
Peterhouse Corporate Finance Limited
+44 (0) 20 7469 0930
gm@peterhousecap.com

 

Financial PR and IR
Julian Bosdet / Dylan Mark /Alejandra Campuzano
Abchurch Communications
+44 (0) 20 7469 4630
SativaInvestments@abchurch-group.com

Mark Blower
Executive Director
Sativa Investments PLC
+44 (0) 20 7971 1255
enquiries@sativainvestments.com

Notes to Editors

Sativa will look for well-placed opportunities within the dynamic regulatory environment of the Medicinal Cannabis sector and the Company’s investment strategy will focus on the production, testing and compliance, research and development, including pharmacology, commercialisation and sales and marketing of Medicinal Cannabis in jurisdictions where it is regulatorily accepted. The Company has committed to an independent legal review prior to each investment to verify compliance with the prevailing regulatory environment.

The Company’s equity interest in a proposed investment may range from a minority position, to a controlling interest, or to 100 per cent ownership. The ventures that Sativa intends to acquire can either be public or private. Sativa Investments’ first two deals include Canadian-based, tri-listed, emerging global pharmaceutical company,Veritas Pharma Inc., and Toronto-based Pharma-Tech company that owns the patent-pending proprietary QuickStrip™ technology, Rapid Dose Therapeutics Inc.

The Company’s Board and Medical Cannabis Advisory Board have a combined 60 years’ industry experience with strong and extensive contacts in the industry, with significant pharmaceutical strength and experience. Their extensive skills range from capital fund raisings, medical research, and start-ups, to pharmaceutical development.

For more information on Sativa Investments, please visit: https://sativainvestments.com/

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Dealing Arrangements

Press Release                                                                                                                                                              6 July 2018

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. 

Sativa Investments PLC

 (“Sativa” or “the Company”)

Dealing Arrangements

The Board of Sativa Investments PLC (NEX: SATI), the UK’s first medicinal cannabis investment vehicle, is aware of the exceptional and growing demand amongst investors to own shares in the Company. As announced on the Company’s admission to trading on the NEX Exchange Growth Market on 29 March 2018 (“Admission”), all investors who subscribed for Ordinary Shares in the Company at Admission entered into an Orderly Market Agreement and the Directors of Sativa agreed, should demand arise, to exercise their allocated options and sell the resulting Ordinary Shares through the Company’s NEX Exchange Corporate Adviser and Broker, Peterhouse Capital Limited (“Peterhouse”).

However, given the unprecedented demand in the market for the Ordinary Shares in the Company, and the desire of the Sativa Directors not to have to be the sole suppliers of such shares at levels which the Board believes do not reflect the long-term value of the Company, the Board has agreed to a refinement of the Orderly Market Agreements entered into at the time of Admission. Therefore, with immediate effect, all shareholders who are subject to the current Orderly Market Agreements will be permitted to trade in the Ordinary Shares of the Company with the consent of Peterhouse, such consent not to be unreasonably withheld.

Pursuant to the NEX Exchange Growth Market Rules for Investors, the Directors remain subject to the Lock-In Agreements entered into on Admission, but they will no longer be required to make further shares available through the exercise of their options.

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

 

–  Ends  –

For further information please contact:

 

Geremy Thomas
Founder & Chief Executive Officer
Sativa Investments PLC
+44 (0) 20 7971 1255
enquiries@sativainvestments.co.uk

 

NEX Exchange Corporate Adviser
Guy Miller
Peterhouse Capital Limited
+44 (0) 20 7469 0930
gm@peterhousecap.com

 

Financial PR and IR
Julian Bosdet / Dylan Mark /
Alejandra Campuzano
Abchurch Communications
+44 (0) 20 7469 4630
SativaInvestments@abchurch-group.com

Mark Blower
Executive Director
Sativa Investments PLC
+44 (0) 20 7971 1255
enquiries@sativainvestments.co.uk

Notes to Editors

Sativa will look for well-placed opportunities within the dynamic regulatory environment of the Medicinal Cannabis sector and the Company’s investment strategy will focus on the production, testing and compliance, research and development, including pharmacology, commercialisation and sales and marketing of Medicinal Cannabis in jurisdictions where it is regulatorily accepted. The Company has committed to an independent legal review prior to each investment to verify compliance with the prevailing regulatory environment.

The Company’s equity interest in a proposed investment may range from a minority position, to a controlling interest, or to 100 per cent ownership. The ventures that Sativa intends to acquire can either be public or private. Sativa Investments’ first two deals include Canadian-based, tri-listed, emerging global pharmaceutical company, Veritas Pharma Inc., and Toronto-based Pharma-Tech company that owns the patent-pending proprietary QuickStrip™ technology, Rapid Dose Therapeutics Inc.

The Company’s Board and Medical Cannabis Advisory Board have a combined 60 years’ industry experience with strong and extensive contacts in the industry, with significant pharmaceutical strength and experience. Their extensive skills range from capital fund raisings, medical research, and start-ups, to pharmaceutical development.

For more information on Sativa Investments, please visit: https://sativainvestments.com/