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DJ AfriAg Global Plc First Investment of GBP300,000 into Apollon

 
TIDMAFRI 
 
5 June 2019 
 
                               AfriAg Global PLC 
 
                          ('AfriAg' or the 'Company') 
 
   Investee company, Apollon to open its first Licensed Retail (Therapeutic) 
Medical Cannabis Dispensary and State-of-the-Art Processing Facility in Negril, 
                              Jamaica this month. 
 
Highlights 
 
  * AfriAg Global Plc undertakes first GBP300,000 official investment in Apollon 
    Formularies, Ltd., representing 0.71% of Apollon's share capital, which has 
    a significant interest in one of Jamaica's leading Federally Licenced 
    medical cannabis companies, Apollon Formularies Jamaica, Ltd ("Apollon"). 
 
  * Apollon plans to open its first revenue generating federally licenced 
    Retail (Therapeutic) Medical Cannabis Dispensary and State-of-the-Art 
    Processing Facilityby month end, which will be the only such dispensary and 
    Processing Facility in Negril, Jamaica. 
 
AfriAg Global PLC, a company whose shares are admitted to trading on London's 
NEX Exchange and one of the few companies listed in London and Europe 
authorised to invest in the legal medical cannabis sector, is pleased to 
announce it has today undertaken its first GBP300,000 investment in Apollon 
Formularies Ltd as part of a multi-stage investment strategy in Apollon 
Formularies Ltd. 
 
The full terms of this multi-stage Apollon Formularies Ltd investment plan have 
been previously announced to the market in May, 2019. 
 
David Lenigas, AfriAg's Chairman, commented: 
 
"AfriAg has contractually agreed to invest GBP1m into Apollon Formularies Ltd in 
two tranches to earn up to 2.34 per cent. of Apollon. Today's announcement sees 
the investment of tranche 1, with tranche 2 being made subject to shareholder 
approval expected at a general meeting of AfriAg shareholders planned for 19 
June 2019. AfriAg and Apollon Formularies Ltd are totally focused on opening 
Apollon's federally licensed operations in Jamaica this month,  which is to 
include its first revenue generating Retail (Therapeutic) Medical Cannabis 
Dispensary  and a State-of-the-Art Processing Facility These facilities are 
both located in the Negril, Jamaica, area, making it now both an idyllic 
destination for tourists and persons seeking medical cannabis treatment" 
 
Apollon is a Federally Licensed vertically integrated medical cannabis company 
operating in Jamaica. Its Retail (Therapeutic) Medical Cannabis Dispensary will 
be located at Doc's Place wellness center at 42 One Love Drive in Negril, 
Jamaica, which is owned and operated by Doc's Place International, Inc., an 
entity that Apollon Formularies Ltd has the right to acquire. Apollon offers a 
full suite of medical cannabis pharmaceutical products developed in its 
cultivation, processing and manufacturing facilities. Doc's Place offers  an 
all-inclusive, wellness resort that through its affiliation with Apollon is 
able to accommodate medical cannabis care and treatment involving Licensed 
Medical Doctors and other healthcare professionals. 
 
This investment marks completion of the first of what is planned to be a two 
stage investment process, prior to offering a full share-based offer for all 
outstanding shares in Apollon, as previously announced on the 16th, 24th and 
29th May 2019. 
 
Apollon Formularies Ltd will use these funds to advance the corporate and 
operational objectives, including  the openning of Apollon's fully licensed 
Retail (Therapeutic) Medical Cannabis Dispensary and Processing Facility. . 
 
Notice Regarding Forward-Looking Statements 
 
This announcement includes "forward-looking statements" involving the Company, 
the other entities referenced in this announcement, and the respective 
subsidiaries, affiliates and associates of the Company and such other entities 
(collective, the "Involved Entities"), which include all statements other than 
statements of historical facts, including, without limitation, those regarding 
the financial position, business strategy, plans and objectives of management 
for future operations, and any statements preceded by, followed by or that 
include forward-looking terminology such as the words "targets", "believes", 
"estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", 
"would", "should", "could" or similar expressions or the negative thereof. Such 
forward-looking statements involve known and unknown risks, uncertainties and 
other important factors beyond the control of the Involved Entities that could 
cause the actual results, performance or achievements of the Involved Entities 
to be materially different from future results, performance or achievements 
expressed or implied by such forward-looking statements. Such forward-looking 
statements are based on numerous assumptions regarding the present and future 
business strategies of the Involved Entities and the environment in which the 
Involved Entities will operate in the future. These forward-looking statements 
speak only as of the date of this announcement. The Company, on behalf of 
itself and each of the Involved Entities, expressly disclaims any obligation or 
undertaking to disseminate any updates or revisions to any forward-looking 
statements contained in this announcement to reflect any change in expectations 
of any Involved Entities with regard thereto or any change in events, 
conditions or circumstances on which any such statements are based. As a result 
of these factors, readers are cautioned not to rely on any forward-looking 
statement. 
 
The directors of the Company accept responsibility for the contents of this 
announcement. 
 
                                    -ENDS- 
 
For further information on AfriAg Global please visit the www.afriagglobal.com 
or please contact; 
 
AfriAg Global Plc: 
 
 
David Lenigas (Executive Chairman) 
+44 (0)20 7440 0640 
 
Peterhouse Capital Limited 
                  +44 (0)20 7469 0930 
 
Guy Miller/Fungai Ndoro 
 
 
 
END 
 

(END) Dow Jones Newswires

June 05, 2019 02:00 ET (06:00 GMT)