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Sativa signs IP agreement with Canadian-based Veritas Pharma Inc.

Press Release                                                                                                                      16 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 signs IP agreement with Canadian-based Veritas Pharma Inc.

Sativa Investments PLC (NEX: SATI), the UK’s first medicinal cannabis investment vehicle, has signed an IP sharing agreement with Canadian-based emerging global pharmaceutical company Veritas Pharma Inc. (“Veritas” or “Veritas Pharma”) in which the Company invested C$ 0.2 million cash in May 2018.

Sativa is currently reviewing the potential for growing medicinal cannabis in the UK, and the IP sharing agreement includes Veritas Pharma, through its subsidiary company Cannevert Therapeutics Ltd., using its detailed research of cannabis strain lead selection to assist Sativa’s application to the UK Home Office Drugs Licensing and Compliance Unit for a medicinal cannabis growing licence.

Veritas Pharma focuses on the discovery, product development and commercialisation of effective patented Medicinal Cannabis therapies which target disease conditions in the areas of chronic pain, senior long-term and palliative care. It is dual listed on the Canadian Securities Exchange and America’s OTC exchange.

Cannevert Therapeutics Ltd. aims to obtain compelling scientific evidence for healthcare professionals to utilise medicinal cannabis strains with a reliable therapeutic effect on patients.

Geremy Thomas, founder and Chief Executive Officer of Sativa, said: “A key part of Sativa’s strategy is to target overseas investments that can be leveraged to assist the Company commercially as it participates in the industry in the UK and wider Europe. In this case, Veritas’ scientific knowledge of seed selection will expedite a potential UK licence application to enable Sativa to grow cannabis strains for its own research and development purposes including use by recipients of grants awarded by the Sativa Foundation.”

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, with an initial focus on Canada. 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. 

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.co.uk/

Market report: Finsbury Food sours after traders find lower revenues hard to digest
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Market report: Finsbury Food sours after traders find lower revenues hard to digest

Kids may love Finsbury Food Group for its Star Wars-themed cakes, but the “force” was certainly not with the bakery firm on Monday.

The City quickly left the cake-maker with a soggy bottom after the company warned that revenues for the year to June fell 3.4% to £303.6 million.

 

The AIM-listed firm’s trading was hit by the closure of two bakeries towards the end of last year. However, comparable sales rose 2.4% to £290.2 million.

Chief executive John Duffy also spooked investors by claiming the challenging UK economic environment “is showing little sign of abating from the levels experienced”. He pointed to higher costs linked to wages and ingredients. Shares fell 2.2p, or 2%, to 112.8p.

Moving from pastries to property, and the Square Mile shunned a number of housebuilders and estate agents. Investors ditched stock on the same day that online giant Rightmove published a gloomy report that showed London’s housing market woes worsening ahead of the traditional summer lull.

Rightmove said the average asking price in the capital this month is down £11,040 from a year earlier. Throughout the country, property prices are almost flat. The report warned that finding a buyer over the summer has been made more difficult by an 8.6% increase in new seller numbers. The closely watched index further reported that there is “no corresponding increase in buyer numbers to soak up new seller influx”. 

FTSE 250 housebuilders Bovis Homes and Redrow saw their shares sink lower on the report, down 3p to 1137p, and 4.35p to 530.65p respectively. The FTSE 250 index as a whole was up 107.61 points to 20,920.73.

On blue-chip FTSE 100 index, housebuilders were also out of favour. Berkeley lost 16p to 3604p, and Persimmon was down 9p at 2473p.

The FTSE 100 was also grappling with the implications of the latest comments from Donald Trump. The US President named Europe as one of America’s “foes” but investors seemed largely unmoved with the index down only 8.81 points at 7653.06p.

Stockbroker AJ Bell said the flat market was a result of a robust performance from utility and engineering stocks, offset by weakness in miners and insurers. 

One company that put traders on a high was Sativa Investments, which in March became the first cannabis-focused vehicle to list in London after debuting on the Nex.

The firm said it has signed an IP sharing agreement with Canada’s Veritas Pharma, which it hopes will help its efforts in the UK’s emerging cannabis market.

Shares in Sativa edged up 0.09p, or 2.74%, at 3.37p.

Small-cap spotlight

CentralNic, the AIM-listed internet platform that gets revenue from the worldwide internet domain name and web services industry, is relisting on the junior market today after buying German-based domain names business KeyDrive, in effect doubling its size.

CentralNic shares fell 6p to 52p.

Read the article here