Sativa Investments (NEX:SATI) CEO Geremy Thomas talks to DirectorsTalk following on from the release of its interim report for the six months ended 30th June 2018. Geremy explains how the company is progressing since IPO, the investments made so far, a change in focus and what’s happening in the UK with regards to medical cannabis.
Half year results for the six months ended 30 June 2018.
· Sativa listed on the UK’s NEX Exchange on 29 March, raising £1.1m net of £129K expenses, as the UK’s first listed medicinal cannabis investment vehicle
· The founder and CEO of Sativa, Geremy Thomas, along with his immediate family, had previously invested £560K in to the Company in January 2018
· A further £500K was raised in June from the LF Miton UK Smaller Companies Fund, which became the Company’s first major institutional investor
· £656K worth of investment was deployed in the period to 30 June in to Veritas Pharma Inc.; Rapid Dose Therapeutics Inc., and George Botanicals Ltd
· Total current consolidated assets of £2.08m as at 30 June
· Cash at bank and cash equivalents £1.42m as at 30 June
· Post period-end, the Company purchased PhytoVista Laboratories Ltd and also formed Sativa Germany GmbH, a joint venture with Lexamed GmbH
Geremy Thomas, founder and Chief Executive Officer of Sativa Investments, said:
“Sativa has progressed significantly since listing, along with the industry itself, witnessing a sea-change in attitude from the medical profession and also the Government in relation to unmet patient needs and widespread realisation that the UK is falling behind in terms of accepting the benefits of medicinal cannabis.
“The Company continues to build a solid foundation for the end-to-end supply of medical cannabis and CBD products to fulfill its seed to consumer strategy.”