AfriAg Global (AFRI) intends to increase its stake in medicinal cannabis company Apollon Formularies to 2.34%. The long-term plan is to make an all-share offer for Apollon. The Jamaican operation of Apollon has completed its third cannabis harvest. AfriAg has raised a further £250,000 at 0.1p a share.
Sativa Group (SATI) has appointed Cenkos as its corporate adviser and broker, replacing Peterhouse. Stanford Capital has been appointed as a joint broker of medicinal cannabis products developer Ananda Developments (ANA) and Peterhouse is staying on as a corporate adviser and a joint broker. Stanford has been issued with 3.33 million warrants exercisable at 0.45p each.
First Sentinel (FSBN) has published its 2018 figures, which were hit by a loss on its investment in Curzon Energy (CZN) and this led to a halving of NAV to £671,000. There are plans for a £7m bond listing on Euronext. Trading in First Sentinel shares has recommenced.
Since the year end, rail safety products developer Wheelsure (WHLP) has received further orders from London Underground, DLR and Siemens in Germany. Wheelsure may need additional working capital.
Gunsynd (GUN) will receive 225 shares (22.5%) in Oyster Oil and Gas Ltd as part of a settlement with creditors. Oyster requires additional cash in order to finance work on exploration assets.
Skills verification platform Indorse, where Coinsilium Ltd (COIN) has a 10% stake, will receive an investment of up to $6.5m from Brand Capital, the investment arm of India media company Times Group. Indorse has been valued at $15m for this investment, which means that Coinsilium’s stake has increased in value by 350% to $1.5m.
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