Botanical Holdings, a London, UK-based investment holding company focusing on the legal medicinal cannabis industry, completed a pre-listing equity-funding round of GBP 4.5m.
The funds secured in this round will be paid in three tranches of GBP 1.5m each, at increasing share prices for each tranche. The first tranche is available immediately, the second at the end of March 2021, and the third by the end of June 2021.
The company will use the funds for several essential activities. Through its subsidiary EuroCan, it will continue its first complete on-site test growing cycles in the group’s newly constructed 2,800m2 greenhouse facility in Lesotho. These test growing cycles will be used to develop valuable research and refine expertise as EuroCan continues its agronomic development in Lesotho. This will aid the company in achieving GACP certification.
Botanical Holdings will also use the funds to commence construction of EuroCan’s 5,000 square meters (expanding to 20,000 square metersin due course) greenhouse and 3,600 square metershandling/processing facility in Portugal. EuroCan expects to complete construction of the Portuguese facility by the end of 2021.
From a corporate perspective, Botanical Holdings will continue to advance works for its targeted listing on the main market of the London Stock Exchange by way of standard listing, during 2021.
Led by Carl Esprey, CEO, Botanical Holdings is an investment holding company focusing on the legal medicinal cannabis industry. Botanical Holdings has established a diversified and risk adjusted portfolio of subsidiaries across the medicinal cannabis sector and value chain.
These subsidiaries include
1) EuroCan, which has established operations for cultivation of cannabis for medicinal purposes in Lesotho and Portugal,
2) Southern African Hemp, a medical cannabis license holder which will cultivate hemp for CBD from a 400 hectare site in Zimbabwe, and
3) Unearthed Brands, a CBD consumer products business that has developed and will market tinctures, skincare products and other consumer goods, under the product lines ‘Unearthed’ and ‘Le’Sutu’.