Termination of proposed acquisition
08/02/2023 07:00
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RNS Number : 2320P Cellular Goods PLC 08 February 2023
The information contained within this announcement is deemed by the Company to
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Press release
08 February 2023
Cellular Goods PLC
("Cellular Goods" or "the Company")
Termination of proposed acquisition
On 26 September 2022, Cellular Goods announced its proposed acquisition of
Cannaray Brands Limited and Love CBD Health Limited from Cannaray Limited
("Cannaray") (the "Transaction"). The Company announces today that it has
terminated negotiations in relation to the Transaction.
The Board concluded that, as a result of changes in the deal itself, it was
not in the best interests of shareholders to proceed.
In parallel with the Transaction, the Company has been proactively reviewing
its product range, proposition, financials, strategy and opportunities. Its
focus will continue to be to develop and expand the Company's business model
and to position the Company for long term growth.
For further information please contact:
Cellular Goods
Darcy Taylor via Tancredi +44 207 887 7633
Chairman and interim CEO
Neil Thapar +44 787 645 5323
Investor Relations
Tennyson Securities
Corporate Broker & Adviser
Peter Krens +44 207 186 9030
Alan Howard
Novum Securities
Corporate Broker
Colin Rowbury
Jon Belliss +44 207 399 9427
Tancredi Intelligent Communication
Media Relations
Helen Humphrey +44 744 922 6720
Charlie Hobbs +44 789 755 7112
cellulargoods@tancredigroup.com (mailto:cellulargoods@tancredigroup.com)
About Cellular Goods PLC:
Cellular Goods is a UK-based wellness company that provides premium products
based on lab-made cannabinoids. It was established in August 2018 to develop
efficacy-led and research-backed cannabinoid-powered wellness products. The
initial focus is on three product verticals: Feel Better, Look Better and
Function Better. These three verticals encompass Cellular Goods' premium CBG
skincare and CBD wellness with the first products launched in December 2021.
The Company's shares are listed on the main market of the London Stock
Exchange. www.cellular-goods.com (http://www.cellular-goods.com) .
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