Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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https://www.lse.co.uk/rns/SPC/half-year-report-u7x8fg9xcprithq.html
The Board of the Company and its advisers had expected the transaction to be completed and Admission to have occurred by 31 October 2021. I am able to tell you that the delays in completing the purchase (and the postponement of the Long Stop Date to 31 January 2022) did not result from any problems with the transaction or those raised by the FCA but from the fact that Hellenic's business will be undertaken in the German and Greek markets and this has substantially increased the due diligence requirements of the transaction and the Company has had to obtain opinions in various jurisdictions. In addition, as Hellenic will be one of the first medicinal cannabis cultivators to undertake a London listing, the FCA, understandably and appropriately, requires an extended period to consider and review such an application due to the nature of Hellenic's product and to review the Company's systems, procedures and controls and licenses.
As the Company and Hellenic said in the announcement that the former put out on 1 November 2021, they are both committed to completing the Agreement at the earliest possible date.
Hat tip to ashleyjv for this :
The Governments report - 16/12/21
https://static1.squarespace.com/static/5bbb29273560c345fcc0fade/t/61bc7c905b1230358260d805/1639742618729/Making+UK+drug+policy+a+success+reforming+the+policymaking+process+-+Dec2021+%281%29.pdf
https://www.cdprg.co.uk/
HMG probably has other priorities atm, but encouraging support for re-scheduling ...even amongst conservative MPs....
Hopefully we are not that of the listing and another delay will be avoided.
FT Headline :
" Germany’s nascent cannabis industry hits new highs as legalisation looms
Progress will be closely watched by other countries toying with liberalising their drug laws "
C'mon guys : Germany's legalising it for fun, can't we get on and legalise it for bona fide health purposes ?
'The dog's too big, so I'll kick the cat'..
Maybe someone's noticed the inconsistency between the UK's much-criticized 'light touch regulation' and its 'overly-cautious' approach to the SPAC market ?
From today's FT
"UK Spac market under scrutiny for safety-first approach
London races to catch up with rivals after City watchdog reforms rules for blank-cheque companies"
Hope springs eternal, etc...