REG - Kanabo Group PLC - Amendments to Acquisition Agreement

KanaboAnnouncement

16/05/2023 07:00

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RNS Number : 4722Z  Kanabo Group PLC  16 May 2023

16 May 2023

Kanabo Group Plc

("Kanabo" or the "Company")

 

Amendments to The GP Service Limited Acquisition Agreement

 

Further to the acquisition of The GP Service Limited (the "GP Service"), as
announced on 21 February 2022, and pursuant to a sale and purchase agreement
(the "Agreement"), Kanabo was due to issue 12,574,931 Ordinary Shares to MEIF
WM Debt LP ("MEIF") in satisfaction of the MEIF loan.

 

The Company negotiated with MEIF and agreed that in respect of the 12,574,931
Ordinary Shares due to be issued and sold by Kanabo to satisfy the MEIF loan,
the definition of "Final Repayment Date" in the original MEIF loan agreement
shall be extended to 31 December 2024 or such later date as determined by
MEIF. It was also agreed that if the Company, at its discretion and at any
time prior to the Final Repayment Date, finds buyers for the 12,574,931
Ordinary Shares it will do so to satisfy the loan repayment.

 

Defined terms in this announcement shall have the same meaning as set out in
the Acquisition of The GP Service Limited announcement made on 21 February
2022, unless otherwise specified herein.

 

For further information, please contact:

 

 Kanabo Group Plc
 Avihu Tamir, Chief Executive Officer                              via Vigo Consulting

 Assaf Vardimon, Chief Financial Officer                           +44 (0)20 7390 0230

 Ian Mattioli, Non-Executive Chair of the Board

 Peterhouse Capital Ltd (Financial Adviser and Broker)             +44 (0)20 7469 0930

 Eran Zucker/ Lucy Williams / Charles Goodfellow

 Vigo Consulting (Financial Public Relations/Investor Relations)    +44 (0)20 7390 0230

 Jeremy Garcia / Fiona Hetherington / Verity Snow

 kanabo@vigoconsulting.com

About Kanabo Group Plc

Kanabo Group Plc (LSE:KNB) is a healthtech company committed to
revolutionising patient care through its innovative technology platform and
disruptive product offerings. Since its inception in 2017, Kanabo has been
focused on researching, developing, and commercialising regulated medicinal
cannabis-derived formulations and therapeutic inhalation devices.

 

Kanabo's NHS-approved online telehealth platform, The GP Service, provides
patients with video consultations, online prescriptions, and primary care
services. The Company is a leader in its field, focusing on improving patient
outcomes and providing more accessible healthcare experiences.

 

In March 2023, Kanabo successfully launched its Pain Clinic, Treat It, under
the expert guidance of its technological and product expertise. Treat It
initially focuses on chronic pain management using plant-based medicine and
treatments that are currently unavailable through traditional channels.

 

At Kanabo Group Plc, we are dedicated to providing patients with the highest
quality medical treatments and more accessible healthcare experiences.

 

Visit www.kanabogroup.com (http://www.kanabogroup.com/)  for more
information.

 

 

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