Sativa Group (NEX:SATI), the UK’s leading quoted CBD wellness and medicinal cannabis Group, has provided the following Company update.
Following the appointment of Henry Lees-Buckley as Chief Executive Officer in August 2019, the Group has developed to become a UK-centric, cohesive and complementary group of five operating subsidiaries.
Goodbody Botanicals provides CBD products online and to retail markets including pharmacies, wellness stores and grocers. Goodbody Wellness is a high-street retail brand with dedicated CBD wellness stores providing a premium shopping experience to consumers. Tessellate Collective is a direct-selling platform servicing consumers at home. Phytovista Laboratories provides independent testing of CBD products to both external customers and fellow Group businesses. Sativa Cultivation and Extraction holds a Controlled Drug licence and cultivates cannabis plants to fulfil its partnership agreement with King’s College London to enable research into the impact of cannabinoids on inflammation and respiratory conditions.
In line with the progress that the Company has made, it has secured senior appointments to reflect the demand for its consumer products.
Richard Bunce has been appointed Product and Procurement Manager for the Sativa Group. He has over 30 years’ experience in product development, roll-out and procurement with companies including Wolseley Group Plc, Pets at Home, and Homebase. Richard will oversee the Group’s entire range of products in terms of quality, compliance, category management, packaging and product line expansion.
Alan Horton has been recruited as Director of Retail Sales for Goodbody Botanicals. Alan has extensive sales management experience selling to the major UK high street grocery and pharmacy retailing customers. Additionally, he has significant CBD industry experience. Alan will work closely with our distribution partner SHS Distribution to coordinate our sales efforts with major retailers.
Quoted market update
As the Company continues to mature and expand, the Board has considered the most appropriate market on which its shares should trade. The Company confirms that it has appointed Cenkos Securities to explore the Admission of the Company’s shares to trading on the London Stock Exchange’s Alternative Investment Market (“AIM”). Whilst there can be no guarantee that this will be achieved, the Company is keen to pursue an Admission to AIM as soon as practicable in the New Year.
Five weeks after the Home Office granted Sativa a Controlled Drug licence for the cultivation of cannabis plants with THC content of greater than 0.2%, along with its production, possession and supply, the first batch of seedlings are thriving. The seedlings are being prepared to be moved to the cultivation room. The total growing cycle is 12 weeks, allowing for four crops per year.
The first extract of medicinal cannabis oil will be delivered to Kings’ College London in December.
Henry Lees-Buckley, Chief Executive Officer of Sativa Group, said:
“We consider the Sativa Group to be at the forefront of the UK CBD and medicinal cannabis sector and we intend to maintain that position by keeping to the regulatory and compliance high-road.”