Last checked at 10 May 2023 14:52
10 May 2023
kANABO GROUP PLC
("Kanabo" or the "Company")
Result of Broker Option
Further to the Company's announcement on 9 May 2023 (the "Fundraise Announcement"), Kanabo announces that the Broker Option has now closed. The Broker Option has been fully taken up, raising £200,000 at the issue price of 2.88 pence per share through the issue of 6,944,446 new Ordinary Shares ("Broker Option Shares").
Each Broker Option Share issued has half a warrant (the "Warrants") attached, granting the holder the right to subscribe for an additional half a new ordinary share at an exercise price of 5.76 pence for a period of 24 months following Admission. The Warrants cannot be exercised in the first 90 days of admission of the initial fundraising shares (as referenced in the announcement on 9 May 2023) and are subject to a prospectus being published and the receival of approval at a General Meeting of the Company.
Investors in the Broker Option Shares will be issued with a total of 3,472,223 Warrants.
The total amount raised by the Company under the Fundraise Announcement and the Broker Option Shares is £2.74 million (before expenses).
Admission to trading
Application has been made to the London Stock Exchange for the Broker Option Shares to be admitted to trading on the Standard List of the London Stock Exchange ("Second Admission"). Second Admission is expected to occur at 8.00 a.m. on or around 15 May 2023. The Broker Options Shares will rank pari passu with the Company's existing Ordinary Shares.
Total voting rights
Following Second Admission, the Company's enlarged issued share capital will be 499,304,946 Ordinary Shares. This figure of 499,304,946 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Defined terms in this announcement shall have the same meaning as set out in the Fundraise Announcement, unless otherwise specified herein.
For further information, please contact:
Kanabo Group Plc | via Vigo Consulting +44 (0)20 7390 0230 |
Avihu Tamir, Chief Executive Officer
| |
Assaf Vardimon, Chief Financial Officer Ian Mattioli, Non-Executive Chair of the Board
| |
Peterhouse Capital Ltd (Financial Adviser and Broker) Eran Zucker/ Lucy Williams / Charles Goodfellow
| +44 (0)20 7469 0930 |
Vigo Consulting (Financial Public Relations/Investor Relations) Jeremy Garcia / Fiona Hetherington / Verity Snow kanabo@vigoconsulting.com
| +44 (0)20 7390 0230
|
About Kanabo Group Plc
Kanabo Group Plc (LSE:KNB) is a healthtech company committed to revolutionising patient care through its innovative technology platform and disruptive product offerings. Since its inception in 2017, Kanabo has been focused on researching, developing, and commercialising regulated medicinal cannabis-derived formulations and therapeutic inhalation devices.
Kanabo's NHS-approved online telehealth platform, The GP Service, provides patients with video consultations, online prescriptions, and primary care services. The Company is a leader in its field, focusing on improving patient outcomes and providing more accessible healthcare experiences.
In March 2023, Kanabo successfully launched its Pain Clinic, Treat It, under the expert guidance of its technological and product expertise. Treat It initially focuses on chronic pain management using plant-based medicine and treatments that are currently unavailable through traditional channels.
At Kanabo Group Plc, we are dedicated to providing patients with the highest quality medical treatments and more accessible healthcare experiences.
Visit www.kanabogroup.com for more information.