RE: RNS24 May 2019 15:20
David Lenigas, Executive Chairman of AfriAg Global PLC, commented;
“I’m please to close this Stage 1 Placing of £300,000. When these proceeds are cleared, the first £300,000 proposed investment in to Apollon will be targeted towards opening Apollon’s first revenue generation businesses at Doc’s Place Wellness Center and Apollon’s first dispensary and processing facility in Negril, Jamaica and will secure the option to acquire 660 acres of prime agricultural land for future cultivation expansion.
AfriAg is one of the very few companies in the UK and indeed Europe that is capable of doing a transaction of this type in the legal medicinal cannabis sector. Once the Right of First Refusal is agreed and exercised, we will be the first listed company in the UK to be a fully integrated medical cannabis pharmaceutical company.
Subject to the Right of First Refusal being agreed and entered into, the exercise of the Right of First Refusal may constitute a reverse takeover under Rule 57 of the NEX Rules.”