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AFRI - Afriag Global News Story

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Last Trade - 06/08/20

Sector
Industrials
Size
Micro Cap
Market Cap £1.90m
Enterprise Value £667k
Revenue £n/a
Position in Universe 1760th / 1819

AfriAg Global Plc: Opening of Global Center for Medical Cannabis Therapy

Thu 19th September, 2019 8:44am
19 September 2019

AfriAg Global PLC

(‘AfriAg’ or the ‘Company’)

Grand Opening of Doc’s Place International, Inc. (‘Doc’s Place’) and
Apollon Formularies Jamaica, Ltd. on 25 October.

Weekend Media Release, Jamaica

AfriAg Global PLC, a company whose shares are admitted to trading on
London’s NEX Exchange, is pleased to announce that over the past weekend in
Jamaica Apollon Formularies Jamaica, Ltd.  notified the public that the grand
opening of the first Global Center for Medical Cannabis Therapy will take
place  on 25(th) October 2019 in Negril, Jamaica at the facilities of Doc’s
Place International, Inc.  Wired JA Online News released an article on 14
September, announcing the opening
(http://www.wiredja.com/index.php?option=com_k2&view=item&id=10513:jamaica-jamaica-s-first-global-centre-for-medical-cannabis-therapy-opens-in-negril&Itemid=940&utm_source=newsletter_598&utm_medium=email&utm_campaign=in-wired-ja-news-today).
The opening ceremony will include a Keynote speech by the Jamaican Minister of
Commerce, Industry, Agriculture and Fisheries, the Hon. Audley Shaw, whose
responsibilities include  authority over the Cannabis Licensing Authority
(CLA) .

Apollon Formularies Jamaica. Ltd. also issued  a media release in Jamaica
over the weekend, stating that Jamaican legislation continues to create a
solid framework within which to operate as it now moves to capitalise on the 
revenue earning potential and the further advancement of medical knowledge of
the medicinal cannabis space.  The Company beleives Apollon Formularies
Jamaica, Ltd. sits at the forefront of scientific endeavour in the medicial
cannabis space, with the opening of this state of the art, next generation
master-planned wellness and treatment facility as well as the most modern and
licenced processing and production facility in Jamaica.

AfriAg Global’s relationship with Apollon Formularies Ltd:

As previously announced, AfriAg completed an investment in Apollon Formularies
Ltd (“Apollon UK”) of 2.325 per cent of Apollon UK's issued share capital
and is in negotiations with Apollon UK  and a majority of its shareholders to
acquire all the issued and outstanding shares owned by shareholders. Further
investments in, or acquisition of, Apollon UK, are subject to shareholder and
regulatory approvals.   Apollon UK is an indirect investor in Apollon
Formularies Jamaica, Ltd. and will have the right to receive 95 percent of the
net profit of Apollon Formularies Jamaica, Ltd.  Apollon UK also has a right
to acquire 90 percent of the issued and outstanding stock of Doc’s Place
International, Inc.

Apollon Formularies Jamaica, Ltd. and Doc’s Place have completed a
successful six-week pilot opening for the treatment of patients which started
on Thursday 1(st) August 2019, to coincide with Emancipation Day and the start
of the Jamaican tourist season.

The Doc’s Place facility which will have its official opening on Friday
25(th) October 2019, is a joint venture between Doc’s Place International,
Inc., a health and wellness resort, and Apollon Formularies Jamaica, Ltd. It
is located at Doc’s Place, Hotel and Resort Centre in Negril’s West End.

The goal of the Medical Cannabis Therapy Centre is to provide an environment
that enhances the quality of life for those being served. It is modelled on
treatment centres, spas, resorts, and hotels, that provide
hospitality-oriented services in combination with personal care and well-being
services.

CEO of Doc’s Place and a director of Apollon Formularies Jamaica, Ltd.,
Stephen D. Barnhill, MD, said, “This strategic relationship provides
patients worldwide with the opportunity to receive world-class medical
cannabis treatments provided by licensed physicians with special expertise in
treating with medical cannabis-based pharmaceuticals in a safe, professional,
medical and legal environment.”

Commenting on the new facility, Medical Director of Doc’s Place
International, Inc. and a U.S. board-certified neurosurgeon, Anthony Hall, MD,
said, "We are very excited about the opening of the world’s first  Global
Center of Excellence for Medical Cannabis Therapy in Negril, Jamaica, which
will provide patients with specialized medical care for the myriad of
conditions shown to be beneficially treated with medical cannabis
pharmaceuticals in a Federally legal environment." Dr. Hall is supported by a
team, which includes Dr. Marjorie Vassell and Dr. Alfred Dawes.

Chief Science Officer of Doc’s Place International and former professor and
director of Clinical Chemistry at MD Anderson Cancer Centre, Herb Fritsche,
Ph.D., pointed out:  “Having the world’s first Global Center of
Excellence for Medical Cannabis Therapy gives us the opportunity to do
state-of-the-art research, clinical trials and development based on patient
outcomes data, create and adapt pharmaceutical formulations, establish
accurate therapeutic doses and develop genomic markers to better determine the
proper course of treatment for patients being treated by our excellent medical
team using Apollon Formularies Jamaica, Ltd.’s award-winning medical
cannabis strains and cannabis-based pharmaceutical formulary.“

Paul Burke, CEO of Apollon Formularies Jamaica, Ltd.,  said, “We are
pleased that we have a strategic relationship with Doc’s Place International
to open the world’s first Global Center of Excellence for Medical Cannabis
Therapy in Negril, Jamaica, and to provide legal, state-of-the-art,
quality-controlled medical cannabis-based pharmaceuticals to the excellent
medical team treating these patients.”

Jamaica’s Ministry of Tourism has the development of health and wellness
tourism as one of its pillars for growing the tourism industry, and the
Ministry of Health and Wellness recently said they hope to attract over
100,000 medical tourists to the island within the next 10 years. Doc’s Place
International’s Global Center for Medical Cannabis Therapy aims to be a
major contributor to this increase in medical tourists to the island.

In their media publication over the weekend, Apollon Formularies Jamaica, Ltd.
stated that Medical Cannabis has been shown to be beneficial in a myriad of
conditions, including prostate cancer, breast cancer, brain cancer,
nausea/vomiting (chemotherapy), nausea/vomiting (sea sickness), post traumatic
stress disorder (PTSD), chronic pain, arthritis, crohn’s disease/ulcerative
colitis, epilepsy, glaucoma, HIV, Alzheimer’s Disease, Lupus (SLE),
opioid/narcotic rehabilitation, Parkinson’s Disease, anxiety disorders and
sleep disorders.

Notice Regarding Forward-Looking Statements

This announcement includes "forward-looking statements" involving the Company,
the other entities referenced in this announcement, and the respective
subsidiaries, affiliates and associates of the Company and such other entities
(collective, the “Involved Entities”), which include all statements other
than statements of historical facts, including, without limitation, those
regarding the financial position, business strategy, plans and objectives of
management for future operations, and any statements preceded by, followed by
or that include forward-looking terminology such as the words "targets",
"believes", "estimates", "expects", "aims", "intends", "will", "can", "may",
"anticipates", "would", "should", "could" or similar expressions or the
negative thereof. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors beyond the control of the
Involved Entities that could cause the actual results, performance or
achievements of the Involved Entities to be materially different from future
results, performance or achievements expressed or implied by such
forward-looking statements. Such forward-looking statements are based on
numerous assumptions regarding the present and future business strategies of
the Involved Entities and the environment in which the Involved Entities will
operate in the future. These forward-looking statements speak only as of the
date of this announcement. The Company, on behalf of itself and each of the
Involved Entities, expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements
contained in this announcement to reflect any change in expectations of any
Involved Entities with regard thereto or any change in events, conditions or
circumstances on which any such statements are based. As a result of these
factors, readers are cautioned not to rely on any forward-looking statement.

The directors of the Company accept responsibility for the contents of this
announcement.

-ENDS-

For further information on AfriAg Global please visit the www.afriagglobal.com
or please contact;

AfriAg Global
Plc:                                    
                            

David Lenigas (Executive
Chairman)                                                   
+44 (0)20 7440 0640

Peterhouse Capital
Limited                                 
                                +44 (0)20 7469
0930

Guy Miller/Allie Feuerlein



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