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.
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.”
· 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.