REG - Kanabo Group PLC - Business Update

KanaboAnnouncement

04/04/2025 16:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250404:nRSD7877Da&default-theme=true

RNS Number : 7877D  Kanabo Group PLC  04 April 2025

Kanabo Group Plc

 

Business Update

4 April 2025

 

Kanabo Group plc  ("Kanabo" or the "Company") (LSE: KNB), a leader in digital
health services and specialised medicines (including medicinal cannabis)
wishes to update the market regarding the Company's financial position and
strategic direction.

On 4 March 2025, the Company announced that it continues to review its
strategic direction and assess the need for additional resources to develop
commercial AI technology. The Company's financial position has become more
uncertain over the past month.  The Company is engaged in ongoing discussions
regarding a potential restructuring of its business, which may involve, among
other options, asset disposals, mergers, or a refocus on the Company's core
business lines. The Company is also continuing to assess its capital needs and
funding requirements, including potential fundraising alternatives.

In light of the uncertainty regarding the Company's financial position, the
Company anticipates that completion and publication of the Company's audited
accounts for the year ended 31 December 2024 will be delayed.

Enquiries:

 Kanabo Group plc                                           +44 (0)20 7469 0930

 Avihu Tamir, Chief Executive Officer

 Odelia Vazana , Chief Financial Officer
 Peterhouse Capital Limited (Financial Adviser and Broker)  +44 (0)20 7469 0930

   Guy Miller / Lucy Williams / Charles Goodfellow

 

About Kanabo Group plc (LSE: KNB) Kanabo Group plc is a digital health company
committed to improving patient care through its specialised technology
platform and treatments, including medicinal cannabis.

Kanabo's NHS-approved telehealth platform, The GP Service, provides video
consultations, online prescriptions, and comprehensive primary care. Treat It,
the Company's specialised clinic, extends these services to chronic pain
management and mental health indications, offering patients access to
secondary care.

With two complementary business divisions, Kanabo delivers end-to-end digital
health solutions, from telehealth consultations and prescriptions to tailored
treatments. Its partially owned subsidiary, Kanabo Agritec Ltd, offers
cultivation consultancy, enabling reliable access to high-quality raw
materials for Kanabo's product range.

Kanabo Group plc remains focused on delivering high-quality medical solutions
that make healthcare more accessible for patients across the UK and beyond.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUSAVRVKUSRAR