JOHANNESBURG, Republic of South Africa, December 06, 2021 (GLOBE NEWSWIRE) – The South African group Cannabis Holdings Labat Africa Limited has double listed its shares on the Frankfurt Stock Exchange (FSE). The shares were admitted to trading at the opening of the market today without restriction.
Labat was listed on the Johannesburg Stock Exchange in 1996, repositioned itself and made a strategic shift to become a fully cannabis-integrated healthcare company in 2019, becoming the first of its kind to be listed in South Africa .
Speaking on behalf of the group, Labat Africa Managing Director Brian van Rooyen said the ESF listing is an exciting decision for the group. This comes from the new German coalition government that plans to legalize cannabis for medicinal and recreational purposes. The ESF listing will allow us to accelerate our cannabis targets in the European market, especially now with strong negotiations currently underway in the growing cannabis economy of European economic powerhouse Germany.
Germany is set to legalize cannabis nationwide after major parties strike a deal. There will also be provisions relating to advertising, the intention being to restrict the promotion of cannabis, tobacco and alcohol to deter the use of young people, as reported by Der Spiegel. We measure regulations again and again against new scientific findings and align health protection measures, the report says. This reform was long in coming in Germany. The timing was strategic for us, we intend to capitalize on the proverbial first mover advantage, while also taking advantage of the receptive and bullish European investor climate, adds van Rooyen.
Labat Healthcare CEO Stanton van Rooyen said our intention is to provide South African and international investors with exposure to high growth investments in the cannabis value chain. Listing on the ESF allows Labat Healthcare to access the capital of private and institutional investors on international markets. It also affirms our long-standing confidence that Labat Africa, through healthcare companies, would find a smart and sustainable solution to meet the global demand for the EU-GMP (Good Manufacturing Practices) certification standard. , for which we are well positioned as a supplier. pharmaceutical grade medicinal cannabis and industrial hemp.
Operationally, Labat Africa has secured funding from GR Global Ventures (GRGV) based in California. GRGV has committed to invest an amount of up to ZAR 300 million over the next three years in cash for equity (Equity Commitment) in exchange for new ordinary shares of Labat Africa. The capital commitment will be drawn by Labat Africa through capital calls that the company has the right to exercise with the timing and pricing at Labat’s sole discretion, subject to trading volumes and prices in accordance with JSE rating requirements.
Under the Capital Commitment, GRGV is also entitled to receive warrants of up to 30 million new Labat Africa ordinary shares at an exercise price of ZAR 0.50 per ordinary share representing over 100% premium on the current Labat Africa trading price.
Herschel Maasdorp, Group Director of Labat Healthcare, said: “FSE and Capital Commitment enrollment strengthens Labats’ position globally and strengthens our strategy, which aims to support the commercialization of the concentration on the company’s cannabis. The funding allows the company, while continuing to focus on strict cost controls, to adapt the timing and size of each call for capital to support its ongoing research through clinical trials, growth, customer commitments. , its operating costs and planned manufacture as well as the export of medicinal cannabis to the European market, while preserving shareholder value.
We anticipate that the funding will allow the company to successfully navigate difficult South African business conditions and secure a strong position for the company in the growing cannabis industry, adds Maasdorp.
The capital commitment will allow the Company to deploy liquidity as needed rather than completely diluting existing shareholders for an amount of capital that the Company may not currently need. The capital commitment is a strong complement to other financing options available to Labat Africa, such as debt financing, additional equity financing, rights issues or a combination of these.
The expected funding mix, reinforced by the capital commitment, will be implemented over time in the most optimal way for the company given the short and medium term growth objectives, which were announced in June. 2021 as well as in the company’s Interim 2021. Results.
We are pleased to have a very high caliber, industry focused institutional investment group based in the United States as one of our key stakeholders. As Labat Africa enters the healthcare and wellness market with a focus on cannabis, a partner such as GRGV is a key part of supporting our winning efforts, especially now that we are participating in the larger cannabis market. Europe, concludes Brian Van Rooyen.
NOTE TO EDITORS:
Labat Africa Limited is a large group of black owned and managed investment holding companies headquartered in South Africa. The Group, founded in 1995 by Brian Van Rooyen and Victor Labat. We have been listed on the JSE since 1996. With investments in various sectors. Our vision is to be the premier healthcare company in South Africa with a focus on medicinal cannabis. Use current skills and develop new skills to deliver world class products. Running product and process innovation right through to market consumption and everything in between, we are driven by a passion for leadership, a commitment to moving the industry forward and, above all, delivering to medical and wellness cannabis consumers the best possible solution.
For more information visit www.labat.co.za
INFORMATION ON THE FSE LIST INVESTMENT:
The request concerned the dual listing of the shares that will be listed under ISIN ZAE000018354 on the free market segment Cotation Board of the FSE. Labat Africa, under the laws of South Africa, with LEI NO 9845000R73DF5EE41J88, will remain listed on the JSE under the ticker symbol LAB, with the share price in Frankfurt being linked to the share price in Johannesburg. In addition, the issue will be placed in the form of a private placement.
The listing was managed and successfully concluded by Renell Bank, a CRR credit institution, in accordance with section 1 paragraph 3d sentence 1 KWG in conjunction with article 4 paragraph 1 n ° 2 of Regulation (EU) 575/2013 of the European Union. Parliament and Council of June 26, 2013.
Distributed on behalf of Labat Africa by PR Powerhouse
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
- What is ‘white lung’ pneumonia, and why is it reportedly on the rise in kids? What parents need to know
- Ken Burns on History, Truth, and Storytelling
- Boris Johnson apologises for UK’s handling of Covid pandemic | BBC News
- If your spouse has high blood pressure, you’re more likely to have it too, study suggests
- 5 tech gifts for this holiday season
- Israel strikes on Gaza likely cause ‘complete break down’ of public order, warns UN – BBC News
- Israel expands ground operations to all of Gaza as fears of wider conflict grow
- More women could avoid radiotherapy during their cancer treatment Australian study suggests
- ‘Huge concern’: Military analyst on new fears of wider war in Middle East
- Taylor Swift has been named Time Magazine’s person of the year. #Shorts #TaylorSwift #BBCNews
- White House Delays a Decision on Banning Menthol Cigarettes
- Hannity asks Trump if he would abuse power