Back to all announcements

DJ Ananda Developments Plc hapac® Update and Convertible Loan

 
TIDMANA 
 
21 September 2018 
 
                            ANANDA DEVELOPMENTS PLC 
 
                          ("Ananda" or the "Company") 
 
                      hapac® Update and Convertible Loan 
 
The directors of Ananda Developments Plc  (NEX:ANA) are pleased to provide 
shareholders with the following update on the progress of its investee company, 
Liberty Herbal Technologies ("LHT").  In addition, the Company is announcing a 
GBP300,000 convertible loan facility to enable the Company to take advantage of 
investment opportunities as they arise. 
 
hapac® Update 
 
Ananda owns 15% of LHT, the 100% owner of hapac®, a patent pending technology 
for vaping medicinal cannabis.  Ananda has the right of first refusal to 
finance the growth of the company for the next two years, potentially 
increasing Ananda's stake.  Following the investment, Melissa Sturgess, 
Executive Director of Ananda, was appointed  a director of LHT. 
 
The Company is pleased to report that production of LHT's vaporisers and hap® 
consumable packs (containing 4 hapac® sachets of 0.25g of medicinal cannabis 
each) has commenced in China.  The hapac® maker machine is being manufactured 
and will be delivered direct to Italy.  Please see www.anandadevelopments.com 
or www.hapac.tech for images of the hapac® vaporiser, consumable packs, hapac® 
sachets and hap® point of sale materials. 
 
Three popular strains of CBD have been chosen for the launch of the product 
range.  The CBD contained sachets will be manufactured by Easyjoint in Italy, 
under licence from LHT.  First sales will be through Easyjoint's store in 
Milan.  Please visit www.easyjoint.it. 
 
Convertible Loan Facility 
 
The Company also announces that it has signed a GBP300,000 convertible loan 
facility agreement with Charles Morgan and Melissa Sturgess, both Directors of 
the Company (the "Loan"). 
 
The Loan carries an interest rate of 10 per cent per annum, can be drawn down 
in tranches of GBP10,000 and is repayable on the second anniversary of the first 
drawdown. Any amount drawn down on the Loan can be converted into ordinary 
shares of 0.2 pence in the Company ("Ordinary Shares") at a price of 0.75 pence 
per share, a premium to the current share price. 
 
The loan facility ensures the Company is able to take advantage of any 
significant investment opportunities that may arise, without delay.  No funds 
have yet been drawn down under the Loan facility. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
 
The directors of the Company accept responsibility for the contents of this 
announcement. 
 
                                    --ENDS- 
 
Ananda Developments plc                                   +44 (0)739 269 6517 
 
Executive Director 
Melissa Sturgess 
 
Investor Relations                                  ir@anandadevelopments.com 
Jeremy Sturgess-Smith 
 
Peterhouse Capital Limited                                +44 (0)20 7469 0930 
 
Corporate Finance 
Fungai Ndoro 
Mark Anwyl 
 
Corporate Broker 
Lucy Williams 
Duncan Vasey 
 
Celicourt Communications                                  +44 (0)20 7520 9261 
Mark Antelme 
Joanna Boon 
 
Notes to editors 
 
About Ananda Developments PLC 
 
Ananda Developments has been established as a company to invest in the 
developing market for medical or therapeutic Cannabis derivatives, or related 
products, including but not limited to nutraceuticals, dietary supplements and 
cosmetic products which contain Cannabis or hemp derived cannabinoids. The 
Directors believe that this market is growing due to an increasing number of 
states in the USA, as well as other countries around the world, changing their 
laws to allow for products containing constituents of Medical Cannabis to be 
developed, approved and sold. 
 
A copy of the Company's Admission Document is available at 
www.anandadevelopments.com and at www.nexexchange.com. 
 
Ananda's investment strategy is to invest in companies, projects or products 
that are either progressing medical or therapeutic Cannabis research and 
development, or are developing or have already developed, products that contain 
Cannabis derived cannabinoids and require funding to progress work plans or 
commercialise products. 
 
http://www.anandadevelopments.com 
 
 
 
END 
 

(END) Dow Jones Newswires

September 21, 2018 06:18 ET (10:18 GMT)