DJ Sativa Group PLC Goodbody CBD Wellness three-store launch complete
RNS Number : 3259K
Sativa Group PLC
28 August 2019
28(th) August 2019 Press release
Sativa Group Plc
("Sativa" or "the Group" or "the Company")
Sativa completes initial phase of Goodbody CBD Wellness store chain,
opening its third store and advancing to franchise roll-out
Sativa Group Plc [NEX: SATI], the UK's leading quoted CBD Wellness and medicinal cannabis Group, has completed the initial phase of its Goodbody CBD Wellness store chain, choosing Clifton, Bristol as the third and final location for proof-of-concept, alongside Bath and Cirencester. The Group is now actively seeking franchisees to participate in its comprehensive, full-support national franchise plan.
The 500 sq ft (45.5 sq. m.) Queens Road store joins Space NK, Waitrose, The White Stuff, Café Nero, Vodafone and Wagamama in the Clifton Triangle, a thriving and vibrant primary retail destination. The store stocks a range of more than 50 CBD products and each store has a tasting bar for customers to sample CBD products and enjoy a cup of high quality CBD infused coffee.
The consumer experience consists of focused knowledge and support from highly trained staff who are able to advise customers on the range of CBD products available and the best way to use and apply those products. CBD is believed to boost the body's endo-cannabinoid system which works to restore homeostasis and balance. CBD enriched products available include skincare, tinctures, balms, bath bombs, vape oils, body oils and capsules.
Chris Jones, Managing Director of Goodbody Wellness, said: "It was a great launch weekend with customer feedback echoing the sentiments given about the first two stores. The customers really appreciate a prestige high-street brand which they can trust. It's all about traceability, product testing, and balance.
"A welcome surprise was that the store opened for business a day early. We hadn't even switched on the digital display boards and customers were knocking on the door. That gave the team an early chance to put their extensive training in to practice. Our fellow traders in the Clifton Triangle have been highly complimentary about our store design and quality of product and Goodbody is already viewed as a further boost to local high-street retail."
Recently-appointed Sativa CEO Henry Lees-Buckley said: "Goodbody has achieved this significant milestone in just eight months. It's an important third CBD trading business to the Group alongside George Botanicals and our direct CBD marketing channel, and a fellow Group subsidiary to PhytoVista Laboratories.
"We expect to soon add the licenced growing of medicinal cannabis, once necessary approvals are in place, for research and development purposes through our collaboration agreement with Kings College London, which is looking at the potential benefits that medicinal cannabis might have on respiratory diseases."
The Company has a full-scale replica Goodbody store at its Somerset headquarters alongside its bespoke training facility. All three trading stores are within an hour's drive, allowing potential franchisees to absorb the concept and then witness it trading first-hand.
Goodbody Managing Director Chris Jones is a highly experienced international retail expert, as detailed in his appointment release of 15th January 2019.
High resolution photographs of the stores are available from Yoko@goodbodywellness.co.uk
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For further information please contact:
Henry Lees-Buckley Joseph Colliver Chief Executive Officer Chief Financial Officer Chris Jones Managing Director Goodbody Wellness Sativa Investments PLC Sativa Investments PLC +44 (0) 20 7971 1255 +44 (0) 20 7971 1255 email@example.com firstname.lastname@example.org NEX Exchange Corporate Adviser Corporate Finance Stephen Keys / Max Gould Cenkos Securities plc +44 (0) 20 7397 8900 Equity Sales Julian Morse Cenkos Securities +44 (0) 20 7397 8900 Financial PR and IR Abchurch Communications Julian Bosdet +44 (0)20 7459 4070 (+44 (0) 7771 663 886 SativaInvestments@abchurch-group.com www.abchurch-group.com
Notes to Editors
Sativa is a seed to Consumer CBD Wellness and medicinal cannabis business, focused on the smart-sourcing of the raw material, advanced extraction, manufacture, testing, distribution, and research & development of medicinal cannabis and CBD products. The Company has a Home Office licence application in process which, when granted as the Directors believe it will be as the application is in its final stages, will enable the Company to engage in the highly regulated process of growing, strictly for medicinal research & development purposes only, Tetrahydrocannabinol (THC) rich cannabis flowers at its high-security Somerset headquarters.
The Company joined the UK's NEX market in March 2018 as the UK's first medicinal cannabis investment vehicle and since then has capitalised on its first-mover advantage, developing a substantial UK bridgehead into what the Company believes will be a significant market in the future. Two UK operating subsidiaries, PhytoVista Laboratories and George Botanicals, are already well established and fully trading with healthy gross margins in independent CBD testing and CBD wholesale & retail respectively.
Phytovista has conducted over 1000 independent tests and George Botanicals develops, manufactures and distributes low-THC CBD wellness products. Other important future revenue streams are at various stages of development from concept to actual launch, with two Goodbody Wellness centres open in Bath and Bristol.
Prior to the Listing, Sativa's founder and Deputy Chairman, Geremy Thomas, spent 12 months researching the global medical cannabis and CBD industries at his own personal expense. He based himself in Canada, the most advanced country in terms of medicinal cannabis acceptance and regulation, travelling to America, Australia, the Far East, and Europe to connect with industry leaders and participants. The Company on Listing was therefore already internationally connected, and this has given it a head start within the UK industry for smart-sourcing and the adoption of advanced value-add techniques and models.
In May 2019 the Company obtained permission from NEX Exchange to reclassify itself as a trading company, having delivered on its original investment strategy. Benefits of this include widening the appeal of the equity opportunity to additional types of investors including institutions and family offices, many of which are precluded from investing in fund-type vehicles.
Sativa has a highly experienced Medical Advisory Board, Chaired by Sir Alasdair Breckenridge, a former Chairman of the Medicines and Healthcare Products Regulatory Agency (MHRA). He is joined by Dr Matthew Brown, an award-winning pain consultant at The Royal Marsden Hospital, Dr. Peter Fedlshreiber, a barrister and physician specialising in medical law, and Dr. Stuart Ungar, co-founder of the Doctors Laboratory and who researched biochemical neuropsychopharmacology at the Royal Free Hospital.
The Company has a strong senior management team and Board team including Joseph Colliver FCA as Chief Financial Officer and a Board Director, and Jonathan Wearing, a seasoned City corporate financier, as Chairman. Dr Nick Horniman, Director of Regulatory Affairs, has over thirty years of experience in the veterinary industry and he co-ordinates the Group's ongoing relationships with regulators such as the Home Office, Food Standards Agency (FSA) and the Veterinary Medicines Directorate (VMD). He is also investigating the significant opportunities for medicinal cannabis and CBD products in the pet and equine markets. Chris Jones, a retail management professional who was instrumental in building the Phones 4U chain, leads the team developing the Goodbody wellness centres, which will offer customers a variety of high-quality CBD products.
Sativa's smart-sourcing strategy enables it to define the crucial factors of seed strain, growing techniques and environment, along with extraction methods, all of which are imperative to the quality of the end-product. Phytovista Laboratories confirms the cannabinoid profile and quality of each batch on delivery to ensure that it is regulatorily compliant, is free of unwanted chemical elements, and is of proven origin. The commercial off-take agreements that the Company is entering in to will contribute to quality assurance, forecasted forward quantities of supply, consistency, and pre-determined pricing, rather than spot pricing.
The Group's activities include the Sativa Foundation, which awards research grants to academic institutions in order to further research & development into the efficacy of the full spectrum of cannabinoids. In April 2019 the Company entered into a three-year research agreement with King's College London to research the impact of cannabinoids on inflammation and respiratory diseases.
Sativa has invested in two Canadian-based businesses, pharmaceutical company Veritas Pharma Inc. and Rapid Dose Therapeutics Inc. Both of these provide Sativa with valuable know-how alongside their investment potential. The Company also has a 60% share of a joint venture with Germany's Lexamed GmbH, providing a foothold into the German market.
For more information on Sativa Investments, please visit: www.sativainvestments.co.uk
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(END) Dow Jones Newswires
August 28, 2019 02:00 ET (06:00 GMT)