Business
Annual Report for the period ended 31 March 2023
Annual Report for the period ended 31 March 2023.
About this update from Hellenic Dynamics Plc
[{"type":"text","content":"\n\n31 July 2023\n \nHellenic Dynamics Plc\n \n(\"Hellenic\" or the \"Company\")\n \nAnnual Report & Financial Statements for the Period Ended 31 March 2023\n \nHellenic Dynamics Plc (LON: HELD), the cultivator of tetrahydrocannabinol (\"THC\") dominant strains of medical cannabis flowers, operating a 40,000 square meter cultivation licence from its 195,506 square meter facility in Northern Greece and focused on the supply of medical cannabis to the growing markets across Europe is pleased to announce its full year audited results for the period ended 31 March 2023.\n \nHighlights for the period and post period end\n \nCorporate:\n \no Completed the reverse takeover (\"RTO\") of UK SPAC PLC and achieved admission to the Official List (by way of a Standard Listing) and to trading on the London Stock Exchange 's main market for listed securities (\"Admission\") as the first medical cannabis cultivator, with funds of approximately £2.626m being available to the Company on Admission\n \no Signed a five year memorandum of understanding (\"MoU\") with Elgo Dimitra, the Institute of Plant Breeding and Genetic Resources functioning under the Greek Ministry of Agriculture, which could allow Hellenic to gain European intellectual property (\"IP\") protection on medical cannabis flowers cultivated at the facility\n \no Appointed Carl Haffner to the Company's cultivation team. Carl was previously the Co-founder and CEO of Avida Global SAS, a vertically integrated cannabis business which achieved all necessary certifications including ISO, GACP & EU-GMP.\n \no Appointed Katherine Fleming to its Advisory Board. Katherine is currently the President and CEO of the J. Paul Getty Trust, the international cultural and philanthropic institution, overseeing its 1,500 employees and US $8.5 billion fund. Katherine holds a number of honours including being decorated by the Greek Government as a commander in the Order of Beneficence.\n \nActivity:\n \no Expanded its cultivation strategy to move into white label contract cultivation under the Company's new Product Outsourcing Development (\"POD\") concept. Under this strategy, Hellenic will provide a fully turn-key and EU-GACP certified 1,000 square meter cultivation POD to fully licensed EU-GMP distributor...