REG - Celadon Pharma. PLC - Finance Update

Celadon PharmaceuticalsAnnouncement

20/12/2024 07:00

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RNS Number : 8465Q  Celadon Pharmaceuticals PLC  20 December 2024

Celadon Pharmaceuticals Plc

("Celadon", the "Group" or the "Company")

Finance Update

London, 20 December 2024 - Celadon Pharmaceuticals Plc (AIM: CEL), a UK-based
pharmaceutical company focused on the development, production and sale of
breakthrough cannabis-based medicines, wishes to provide an update on its
financial position.

The Company is pleased to confirm it has continued to be in correspondence
with the provider of the Committed Credit Facility (the "Lender") and his
advisors.  The Lender has continued to confirm that he will pay the remaining
balance of £500k due on the £1m draw down by the end of December 2024.

As at close on 19  December 2024, £250k of the £500k due has been received,
meaning £250k remains outstanding.  This receipt, along with the
subscription proceeds received in early December, expected customer receipts
and continuing to work with creditors, gives the Company sufficient working
capital through to February 2025, extending to March 2025 as and when the
additional £250k is received.

 

Enquiries:

 Celadon Pharmaceuticals Plc
 James Short                                                                                    Via Canaccord Genuity Limited

 Canaccord Genuity Limited (Nominated Adviser and Broker)
 Bobbie Hilliam / Andrew Potts                                                                  +44 (0)20 7523 8000

 Global Investment Strategy UK Limited (Joint Broker)                                           +44 (0)20 7048 9400

 James Sheehan

 

About Celadon Pharmaceuticals Plc

 

Celadon Pharmaceuticals Plc is a UK-based pharmaceutical company focused on
the development, production and sale of breakthrough cannabis-based medicines.
Its primary focus is on improving quality of life for chronic pain sufferers,
as well as exploring the potential of cannabis-based medicines for other
conditions such as autism. Its 100,000 sq. ft UK facility is EU-GMP approved
and comprises indoor hydroponic cultivation, proprietary GMP extraction and an
analytical and R&D laboratory. Celadon's Home Office licence allows for
the commercial supply of its pharmaceutical-grade cannabis product. The Group
owns an approved clinical trial using cannabis-based medicinal products to
treat chronic pain in the UK. Celadon also has a minority interest in
early-stage biopharma Kingdom Therapeutics, which is developing a licensed
cannabinoid medicine to treat children with Autism Spectrum Disorder.

 

For further information please visit our website www.celadonpharma.com
(http://www.celadonpharma.com)

 

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication
of this announcement, this information is now considered to be in the public
domain.

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