Israel-based research and development (R&D) company focusing on cutting edge solutions for medical cannabis, Kanabo Research is close to securing a listing with the London Stock Exchange (LSE) reports CBD Testers.
As for the reason of the potential listing, it is deemed a reverse takeover in which Spinnaker Opportunities PLC announced its intentions of acquiring Kanabo Research. This takeover is what will permit Kanabo from gaining access to the LSE.
The CEO of Kanabo Research, Avihu Tamir shared that this endeavor will allow the firm to raise $4.8 million, which will be allotted for clinical trials and over-the-counter (OTC) products. Tamir is hopeful that the listing will be achieved by the fourth quarter of 2019, as he sees the LSE as a market of great opportunity.
Spinnaker Opportunities PLC’s Chairman, Andy Morrison was referenced emphasizing on cannabis investments. He highlighted the immense interest in medical cannabis today compared to previous years, adding that it mostly comes from, “high ranking politicians, medical pioneers and professional investment community.”
He also mentioned how this acquisition will help introduce medical cannabis to European consumers; not to forget their contribution in helping drive the market.
Kanabo Research will operate under the same name despite the acquisition and will continue to focus on the effect of cannabis and its implications on health areas including restlessness, pain management and anxiety.