Update on Medicinal Cannabis RTO

RNS Number : 5100O

Spinnaker Opportunities PLC

09 February 2021

 

9 February 2021

Spinnaker Opportunities plc

("Spinnaker" or the "Company")

Update on Medicinal Cannabis RTO

Approval of Proposed Transaction by Kanabo Shareholders

New Video Clip - Origins of Kanabo

Thought Leadership - New Leaf Opportunities Campaign

Further to previous announcements regarding the proposed reverse take-over of medicinal cannabis company Kanabo Research Ltd ("Kanabo") (the "RTO" or the "Proposed Acquisition"), Spinnaker is pleased to announce that at a General Meeting of Kanabo Research Ltd shareholders held yesterday, 8 February 2021, in Tel Aviv, Israel, its shareholders formally approved the transaction. This followed acceptance of the terms of the corresponding Share Purchase Agreement by 100% of Kanabo shareholders in December 2020.

The corresponding General Meeting of Spinnaker shareholders is scheduled for Monday 15 February and, upon approval, admission to trading is expected to take place on Tuesday 16 February.

New Video Clip - Origins of Kanabo

A short video clip presented by Kanabo CEO Avihu Tamir and as used to introduce the fund-raising roadshows has been released and can be accessed using the link below:

https://youtu.be/3OEXHjdTNTM  

New Leaf Opportunities Campaign

As part of their thought leadership programme in support of the medical cannabis and CBD wellness sectors in the UK and Europe, Spinnaker and Kanabo are proud to be founder members of the New Leaf Opportunities campaign orchestrated by Volteface, an advocacy organisation dedicated to evidence-based drug reform. The campaign, which also involves Ince Law, Hanway Associates and CiiTech Ltd, aims to showcase and promote the benefits of investment and innovation in medical cannabis and CBD wellness to opinion leaders and stakeholders in the emerging industry.

A video of the launch event held on 28 January 2021 has today been released and can be viewed at:

https://www.youtube.com/watch?v=do6FvBslHJI

The contributions of Avihu Tamir and Andy Morrison appear between minutes 31-48.

For further information, please visit http://www.spinnakeropportunities.uk/ or contact the following: 

Spinnaker Opportunities plc

Tel: [phone]

Andy Morrison

Kanabo Research Ltd

[e-mail] 

Avihu Tamir

Peterhouse Capital Limited (Financial Adviser)

Tel: [phone]

Eran Zucker / Guy Miller / Allie Feuerlein

 Peterhouse Capital Limited (Corporate Broker)

Lucy Williams / Charles Goodfellow

SI Capital (Placing Agent)

Tel: [phone]

Nick Emerson / Greg Mahoney

Notes

Kanabo is aiming to create a new standard in the medical cannabis industry to improve the well-being of millions around the world. The Company will focus on the distribution of Cannabis-derived products for medical patients, and THC-free CBD products for consumers. Kanabo has conducted extensive research & development at its research centre in Israel to develop high-quality Cannabis extract formulas, innovative medical-grade vaporisers, and various non-smoking consumption solutions, making it easy and accessible for anyone in need of treatment.

Kanabo has also continued research & development activities on a range of unlicensed Medical Cannabis Oils, which will be sold alongside its medical-grade vaporisers. It is intended that medicinal products will be sold as unlicensed medicines in the UK and Germany.

 

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