Announcement
Pharma C Investments : Admission to AQSE Growth Market and Fundraising
RNS Number : 8051Z
Pharma C Investments PLC
26 May 2021
26 May 2021
Pharma C Investments Plc
("Pharma C" or the "Company")
ADMISSION TO TRADING ON THE AQSE GROWTH MARKET, CLOSING OF THE £1 MILLION FUNDRAISING & FIRST DAY OF DEALINGS
Pharma C Investments (AQSE: PCIL), an early-stage investor and venture builder in the medical cannabis industry with particular focus on ancillary businesses, is pleased to announce that admission of the Company's ordinary shares to trading on the AQSE Growth Market ("Admission") will take place and dealings will commence at 8.00 am GMT today, Wednesday 26th May 2021, under the symbol "PCIL" (ISIN: GB00BJDPYD55).
Highlights
· Successful £1 million fundraising at 0.7p per share
· Pharma C will focus on investing in ancillary businesses in the cannabis sector which are scalable and defensible with IP, technology and data assets
· Pharma C has a strong, female-led team with expertise in the entrepreneurial and medicinal cannabis sector, meaning the Board and management team have a superior ability to identify breakout companies based on an in-depth understanding of cannabis industry dynamics
· Pharma C has a world-class advisory board with strong experience across the medical and medicinal cannabis sectors, providing the Company with valuable insights and guidance when looking at prospective investments
· The Company has unique access to medicinal cannabis ancillary businesses in the early-stage, pre-IPO deal flow from a global network of medical cannabis experts
· Pharma C will seek to take board positions where possible to enhance growth and support the creation of positive impact businesses while delivering top quartile returns to investors
· Pharma C will primarily focus on companies across the UK, Europe and Israel, where
o The European market is set to be the largest cannabis market in the world with over 750 million people and a total healthcare spend of €2.3 trillion
o Cannabis has been used for medical purposes in Israel since 1996, with broader prescription programmes adopted in 2011 and around 80,000 patients in Israel are directly prescribed cannabis, up from 20,000 patients three years ago
· The funds raised will be used to:
o Pursue the Company's immediate objective of developing a portfolio of investments
o Meet general working capital requirements, undertake due diligence on potential target investments and to make investments in accordance with the investment strategy
o Provide working capital to cover the Company's ongoing annual operating costs
Chana Greenberg, CEO of Pharma C Investments, commented, "This listing marks a significant milestone for Pharma C Investments and will provide the market with the opportunity to be part of an investment vehicle led by strong entrepreneurs and focused on the profitable and robust ancillary market in the medicinal cannabis sector.
"The opportunities around medicinal cannabis across Europe and further afield are huge and we are excited to be able to utilise first mover advantage in the growing market. Our unique investment strategy will provide our shareholders with a diverse portfolio of high-quality businesses whilst ensuring these companies receive the support and guidance they need to thrive."
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For additional information please contact:
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Pharma C |
Tel: +44 7897 834 092 |
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Chana Greenberg, CEO |
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Beaumont Cornish Limited (Corporate Adviser) |
Tel: 0207 628 3396 |
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James Biddle |
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Roland Cornish |
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Blytheweigh (Financial PR/IR-London) |
Tel: +44 207 138 3204 |
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Tim Blythe |
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Megan Ray |
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Pello Capital (Broker) |
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Callum Hill |
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About Pharma C Investments
Pharma C Investments is an investment vehicle targeting the legal medicinal cannabis industry globally. The Company is seeking to identify breakout companies within the legal markets with a particular focus on the UK, EU and Israel and will provide capital, strategic insights and operational support. Pharma C is run by cannabis entrepreneurs who understand the unique challenges of the legal cannabis industry and thus can provide invaluable support and expertise for growing companies.
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