REG - Celadon Pharma. PLC - Receipt of Subscription Proceeds

Celadon PharmaceuticalsAnnouncement

06/12/2024 07:00

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RNS Number : 0562P  Celadon Pharmaceuticals PLC  06 December 2024

Celadon Pharmaceuticals Plc

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

Receipt of Subscription Proceeds

London, 6 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.

Further to recent updates the Company is pleased to announce that it has
received the balance of £150,000 due from the subscriber in respect of the
Third Admission of ordinary shares at a Subscription price of £1.05 as
announced in May 2024.

James Short, Chief Executive Officer of Celadon, commented:

"We are grateful to the subscriber, and to our other shareholders, for their
ongoing support.

As we approach year end, I would like to thank the Group's employees for their
continued hard work to improve the quality of patient's lives through
improving the yields on our harvests, furthering the Group's intellectual
property development and remaining a key player in the UK's developing
pharmaceutical cannabis market."

 

Enquiries:

 Celadon Pharmaceuticals Plc
 James Short                                                                                    Via Sodali & Co

 Jonathan Turner

 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

 Sodali & Co
 Elly Williamson / Sam Austens / Nick Johnson                                                   +44 (0)20 7250 1446

 

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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