Business
Amendments to Acquisition Agreement
Amendments to Acquisition Agreement.
About this update from Kanabo Group Plc
[{"type":"text","content":"\n\n16 May 2023\nKanabo Group Plc\n(\"Kanabo\" or the \"Company\")\n \nAmendments to The GP Service Limited Acquisition Agreement\n \nFurther to the acquisition of The GP Service Limited (the \"GP Service\"), as announced on 21 February 2022, and pursuant to a sale and purchase agreement (the \"Agreement\"), Kanabo was due to issue 12,574,931 Ordinary Shares to MEIF WM Debt LP (\"MEIF\") in satisfaction of the MEIF loan.\n \nThe Company negotiated with MEIF and agreed that in respect of the 12,574,931 Ordinary Shares due to be issued and sold by Kanabo to satisfy the MEIF loan, the definition of \"Final Repayment Date\" in the original MEIF loan agreement shall be extended to 31 December 2024 or such later date as determined by MEIF. It was also agreed that if the Company, at its discretion and at any time prior to the Final Repayment Date, finds buyers for the 12,574,931 Ordinary Shares it will do so to satisfy the loan repayment.\n \nDefined terms in this announcement shall have the same meaning as set out in the Acquisition of The GP Service Limited announcement made on 21 February 2022, unless otherwise specified herein.\n \nFor further information, please contact:\n \n\n\n\n\nKanabo Group Plc\n\n\n\n\n\n\n\nAvihu Tamir, Chief Executive Officer\nAssaf Vardimon, Chief Financial Officer\nIan Mattioli, Non-Executive Chair of the Board\n \n\n\nvia Vigo Consulting\n+44 (0)20 7390 0230\n\n\n\n\nPeterhouse Capital Ltd (Financial Adviser and Broker)\nEran Zucker/ Lucy Williams / Charles Goodfellow\n \n\n\n+44 (0)20 7469 0930\n\n\n\n\nVigo Consulting (Financial Public Relations/Investor Relations)\nJeremy Garcia / Fiona Hetherington / Verity Snow\[email protected]\n \n \n \n\n\n +44 (0)20 7390 0230\n \n\n\n\n\nAbout Kanabo Group Plc\nKanabo 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.\n \nKanabo's NHS-approved online telehealth platform, The GP Service, provides patients with video consultations, online prescript...