Sativa Investments Plc (NEX: SATI), the UK’s first quoted medicinal cannabis investment vehicle, today announced its Final Results from the date of incorporation to 31 December 2018.
· Sativa joined the NEX Exchange Growth Market on 29 March 2018 as the UK’s first quoted medicinal cannabis investment vehicle.
· The Company has capitalised on its first mover advantage and already has two fully operational, high gross margin businesses operating in the UK, George Botanicals and Phytovista Laboratories.
· Sativa is actively engaged with regulatory authorities, to establish a sustainable framework to meet patients’ and consumers’ unmet needs. The Company’s Home Office Research and Development growers’ licence application is progressing well.
· The two early Canadian investments, Rapid Dose Therapeutics Inc and Veritas Pharma Inc, show an overall combined increase in market value of 4.5% as of 31 December 2018.
· Sativa Germany GmbH, a joint venture with Lexamed GmbH which is 60% owned by Sativa, provides the Group with a foothold in Germany.
· Turnover of £260,000 with a gross margin of 42%, generating a total gross profit of £110,000 representing six months of post-acquisition trading from the George Botanicals and Phytovista subsidiaries.
· Total consolidated net assets of £4.97 million as at 31 December 2018.
· Cash at bank and cash equivalents of £3.74 million as at 31 December 2018 (30 April 2019: £2.63 million).
Post period end
· Significant research and development initiative with Kings’ College London relating to the impact of cannabinoids on inflammation and respiratory diseases.
· The Group is to open its first Goodbody & Blunt wellness centre in Bath in early summer.
Geremy Thomas, founder and Chief Executive Officer of Sativa Investments, said:
“Sativa has delivered expeditiously on its investment promise to the market and is now recognised as a trading business, with two fully owned UK subsidiaries already performing well. This early stage traction within the marketplace proves the Group’s ability to deliver revenue-generating operations that benefit from first-mover advantage.
“The medicinal cannabis and CBD industries are highly complex and the twelve months of global research that I undertook before Saiva joined the NEX Exchange is paying off. Focussing on the high-margin value-add components of the seed to consumer chain is key, as is proximity to the end user.”