REG - Kanabo Group PLC - Result of Broker Option

KanaboAnnouncement

10/05/2023 15:00

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RNS Number : 9917Y  Kanabo Group PLC  10 May 2023

10 May 2023

 

kANABO GROUP PLC

("Kanabo" or the "Company")

 

Result of Broker Option

 

Further to the Company's announcement on 9 May 2023 (the "Fundraise
Announcement"), Kanabo announces that the Broker Option has now closed. The
Broker Option has been fully taken up, raising £200,000 at the issue price of
2.88 pence per share through the issue of 6,944,446 new Ordinary Shares
("Broker Option Shares").

 

Each Broker Option Share issued has half a warrant (the "Warrants") attached,
granting the holder the right to subscribe for an additional half a new
ordinary share at an exercise price of 5.76 pence for a period of 24 months
following Admission. The Warrants cannot be exercised in the first 90 days of
admission of the initial fundraising shares (as referenced in the announcement
on 9 May 2023) and are subject to a prospectus being published and the
receival of approval at a General Meeting of the Company.

 

Investors in the Broker Option Shares will be issued with a total of 3,472,223
Warrants.

 

The total amount raised by the Company under the Fundraise Announcement and
the Broker Option Shares is £2.74 million (before expenses).

 

 

Admission to trading

 

Application has been made to the London Stock Exchange for the Broker Option
Shares to be admitted to trading on the Standard List of the London Stock
Exchange ("Second Admission"). Second Admission is expected to occur at 8.00
a.m. on or around 15 May 2023. The Broker Options Shares will rank pari
passu with the Company's existing Ordinary Shares.

 

Total voting rights

 

Following Second Admission, the Company's enlarged issued share capital will
be 499,304,946 Ordinary Shares. This figure of 499,304,946 Ordinary Shares may
be used by shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their interest in,
or a change in their interest in, the share capital of the Company under the
FCA's Disclosure Guidance and Transparency Rules.

 

Defined terms in this announcement shall have the same meaning as set out in
the Fundraise Announcement, unless otherwise specified herein.

 

For further information, please contact:

 

 Kanabo Group Plc                                                  via Vigo Consulting

                                                                   +44 (0)20 7390 0230
 Avihu Tamir, Chief Executive Officer

 Assaf Vardimon, Chief Financial Officer

 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 (mailto: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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