REG - Hellenic Dynamics - Commencement of Cultivation

Hellenic DynamicsAnnouncement

11/10/2023 07:00

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RNS Number : 7006P  Hellenic Dynamics PLC  11 October 2023

11 October 2023

 

Hellenic Dynamics plc

("Hellenic Dynamics" or the "Company")

 

Commencement of Cultivation

 

London, 11 October 2023, Hellenic Dynamics plc (LSE: HELD), a medical cannabis
cultivator with a dedicated focus on producing tetrahydrocannabinol ("THC")
dominant strains of medical cannabis flowers for the burgeoning European
medical cannabis markets, is pleased to confirm the beginning of cultivation.

 

Following the announcement of 29 September 2023, Elgo Dimitra, the public
research institute overseen by the Greek Ministry of Agriculture, has begun
the cultivation of medical cannabis flowers for Hellenic Dynamics.

 

It is the intention of the Company to shortly update its website with a
presentation of the site construction process to completion and a further
announcement will be made to the market in due course.

 

 

 Enquires:

 Hellenic Dynamics plc                                                                                                    +44 (0)20 3818 7850

 Davinder Rai                                                                                                             davinder@hellenicdynamics.com

 Cairn Financial Advisers LLP                                                                                             +44 (0)20 7213 0880

 Emily Staples / Jo Turner / Ed Downes

 Peterhouse Capital                                                                                                       +44 (0)20 7469 0930

 Lucy Williams / Charles Goodfellow

 J&H Communications                                                                                                       +44 (0)7803 603130

 George Hudson

 

 

About Hellenic Dynamics plc

 

Founded in 2019, Hellenic Dynamics is specifically focused on the cultivation
and supply of THC ("tetrahydrocannabinol") - dominant strains of medical
cannabis flowers, destined for the growing medical cannabis markets
across Europe. Hellenic Dynamics' core strategy is to develop and operate its
40,000 square metre active cultivation licence from its 195,506 square metre
facility located near Thessaloniki in Northern Greece. In full production,
Hellenic Dynamics is capable of producing over 54,000 kg of dried flowers per
annum.

 

Hellenic Dynamics will take advantage of its relatively low cost base
resulting from a comparatively low cost of power, having its own running
water supply and the labour rates for skilled and semi-skilled labour in
Northern Greece.

 

25 European countries now allow medical cannabis via prescription and the
European cannabis market is expected to reach €43.3 billion per annum by
2027. Sales of Hellenic Dynamics' dried THC-dominant cannabis flowers and
extracts are initially intended for export into Europe's largest market -
Germany, in addition to other European markets including domestically in
Greece.

 

As the first medical cannabis cultivator to obtain a listing on the main
market for listed securities of the London Stock Exchange, Hellenic is
significantly different to the number of CBD (Cannabidiol) related companies
that have appeared over the recent years. Hellenic Dynamics cultivates
THC-dominant medical cannabis flowers. THC-dominant medical cannabis products
are only available via a medical prescription. Medicinal cannabis has been
approved for use both in the United Kingdom and Germany, plus 23 other
European countries, for conditions including but not limited to  chronic
pain, intractable chemotherapy-related nausea, anxiety, insomnia,
Tourette's syndrome, substance use disorder, multiple sclerosis, IBS, spinal
cord treatment, lack of appetite due to HIV/AIDS, cachexia, anorexia and
glaucoma.

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

 

 

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