Afriag Global logo

AFRI - Afriag Global News Story

6.5p 0.0  0.0%

Last Trade - 17/09/20

Sector
Industrials
Size
Micro Cap
Market Cap £2.06m
Enterprise Value £825k
Revenue £n/a
Position in Universe 1758th / 1807

AfriAg Global Plc: Proposed Medicinal Cannabis Investment Strategy

Mon 25th June, 2018 5:37pm
25 June 2018 

AfriAg Global PLC

(“AfriAg Global” or the “Company”)

Proposed Expansion of Investment Policy to Include the Medicinal Cannabis
Sector

AfriAg Global PLC, the London listed global food and logistics group,
announces that its Board of directors have resolved that at the next general
meeting of shareholders of the Company, the Company intends to put a
resolution to shareholders to expand the Company’s existing investment
policy to include investment opportunities in the medicinal cannabis sector.

The Directors believe that there are numerous investment opportunities within
both private and public businesses that operate in the legalised medicinal
cannabis sector in jurisdictions that are internationally recognised as having
well-developed and reputable laws and regulations that govern this sector.

On adoption of the proposed new investing policy, the Company intends to
appoint a medicinal cannabis advisory board comprising individuals with the
relevant experience and knowledge in the sector to carry out appropriate due
diligence on assets and businesses in the medicinal cannabis sector and to
provide on-going monitoring of investments once made. Prior to any investments
being made the Company intends to conduct legal, accounting and technical due
diligence using appropriately qualified personnel for such activities and
shall in particular seek and obtain appropriate legal advice to ensure that
any investments or partnerships made will comply in all respects with the laws
in those jurisdictions in which investments are made as well as the laws of
the United Kingdom.

The Company’s Chairman has experience in this sector, serving as Co-Chairman
of Canadian listed LGC Capital Ltd, which is currently engaged with
investments and potential investments in Canada, Jamaica, Europe and
Australia.

David Lenigas, AfriAg Global’s Chairman commented; “The legalised global
cannabis industry is a fast-growing sector with many international governments
legalising the use of cannabis products for medical use. Medical Cannabis for
the treatment of Epilepsy has even managed to gain significant interest in the
UK over recent weeks as it is doing in a number of countries around the world.
AfriAg Global and its management team considers that it can bring a tremendous
amount of cultivation, processing and global logistics expertise to this
fast-growing sector. We will not be limiting our investment search in this
sector to any one country or region and we see the growing European markets as
ones of particular interest.

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

-ENDS-

 Doriemus Plc:  David Lenigas (Executive Chairman) Anthony Samaha (Finance Director) Hamish Harris Donald Strang   +44 (0)20 7440 0640 
 Peterhouse Capital Limited Guy Miller Fungai Ndoro                                                                +44 (0)20 7469 0930 



Copyright (c) 2018 PR Newswire Association,LLC. All Rights Reserved
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.