Business
Admission and First Day of Dealings
Admission and First Day of Dealings.
About this update from Kanabo Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1822P\n Kanabo Group PLC\n 16 February 2021\n \n \n \n 16 February 2021\n THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE WITHIN THIS ANNOUNCEMENT.\n THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY OTHER JURISDICTION. INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION IN THE ADMISSION DOCUMENT PUBLISHED BY KANABO GROUP PLC IN CONNECTION WITH THE PROPOSED ADMISSION OF ITS ORDINARY SHARES TO TRADING ON THE LONDON STOCK EXCHANGE.\n \n \n Kanabo Group Plc\n (\"Kanabo\" or the \"Company\")\n \n Admission to the London Stock Exchange\n and\n First Day of Dealings\n Kanabo Group Plc (formerly Spinnaker Opportunities Plc) announces that admission of the Company's ordinary shares to trading on London Stock Exchange (\"Admission\") will take place and dealings will commence at 8.00 a.m. today under the ticker KNB (ISIN: GB00BYQCS703).\n Highlights\n - The Company has raised gross proceeds of £6 million through an oversubscribed fundraising;\n - Kanabo Research Limited has the only medically-approved vaporisation device, the VapePod®, which provides metered dosages of its proprietary cannabis-based oil formulations;\n - Kanabo is already engaged in selling its products as part of a Pilot Scheme and expects to soon be ready to scale up its sales;\n - Kanabo's products are triple-tested for safety, and Kanabo has plans for further safety and efficacy testing on their products;\n - Use of Proceeds for the next 12 months include sales & marketing and research & development.\n Upon Admission, the Company will acquire Kanabo Research Limited for an initial consideration of £15 million. The initial consideration is being satisfied by the issue of 230,769,210 new ordinary shares in the Company. In conjunction with Admission, the Company has raised gross proceeds of £6.0 million through an oversubscribed fu...