Back to all announcements

DJ Ananda Developments Plc Conversion of iCAN Loan Notes

 
TIDMANA 
 
23 June 2020 
 
                            ANANDA DEVELOPMENTS PLC 
 
                          ("Ananda" or the "Company") 
 
               INCREASED EQUITY INTEREST IN iCAN ISRAEL-CANNABIS 
 
The Directors of Ananda announce that the balance of the USD200,000 convertible 
loan notes of iCAN Israel-Cannabis Ltd ("iCAN") issued to the Company in August 
2018 has been converted to equity in iCAN. 
 
On 8 January 2020, the first USD100,000 of Ananda's convertible loan notes were 
converted into 120 ordinary shares in iCAN , at a valuation of USD10M for iCAN. 
Upon conversion of the second half of the loan notes, Ananda now owns 180 
ordinary shares in iCAN, equating to 1.03% of iCAN's issued share capital. The 
second conversion was done at a valuation of USD20M for iCAN. 
 
iCAN is headquartered in Israel, one of the leading jurisdictions for medicinal 
cannabis research.  It is one of the three major conference platforms in the 
cannabis space, along with MJBiz and Cannabis Europa, and also holds a 
portfolio of investments in early stage cannabis companies as well as providing 
consulting services to the sector. 
 
Since the onset of COVID-19 iCAN has focused on virtual offerings and will 
recommence physical conferences when circumstances allow. 
 
                                    -Ends- 
 
The Company maintains a mailing list. To join this list, either email 
ir@anandadevelopments.com or use the form at the bottom of every page of the 
Company's website. 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
ANANDA DEVELOPMENTS PLC                                 +44 (0)7717 573 235 
Chief Executive Officer                           ir@anandadevelopments.com 
Melissa Sturgess 
 
Investor Relations 
Jeremy Sturgess-Smith 
 
PETERHOUSE CAPITAL LIMITED                              +44 (0)20 7469 0930 
Corporate Finance 
Mark Anwyl 
Allie Feuerlein 
 
Corporate Broking 
Lucy Williams 
Duncan Vasey 
 
CELICOURT COMMUNICATIONS                                +44 (0)20 8434 2643 
Mark Antelme 
Ollie Mills 
 
Market Abuse Regulation (MAR) Disclosure 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulations 
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

June 23, 2020 09:15 ET (13:15 GMT)