Back to all announcements

DJ Ananda Developments Plc Corporate Update

 
TIDMANA 
 
7 January 2019 
 
                            ANANDA DEVELOPMENTS PLC 
                          ("Ananda" or the "Company") 
 
                               Corporate Update 
 
The directors of Ananda Developments PLC (NEX: ANA), are pleased to provide 
shareholders with the following update on Ananda's investee company, Liberty 
Herbal Technologies Limited ("LHT"). 
 
hapac® 
 
Ananda owns 15% of LHT, the 100% owner of hapac®, a technology for inhaling 
medicinal cannabis.   Ananda has the right of first refusal to finance the 
growth of LHT 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. 
 
Since Ananda made its investment in LHT in September 2018, the global medical 
cannabis market has continued to expand both geographically and in size. 
Significantly, since 1 November 2018, doctors have been able to prescribe 
medical cannabis in the UK for the first time.  In addition, there have been a 
number of investments by global tobacco and beverage companies into the 
cannabis sector, including Altria's acquisition of 45% of Cronos Group. 
 
The LHT team consists of senior executives previously employed at British 
American Tobacco, one of the world's big five tobacco companies. The team is 
highly experienced in product innovation and marketing and has developed hapac® 
from its understanding of the key consumer, technology and regulatory trends in 
the tobacco industry and their relevance to the nascent cannabis sector. 
 
A recent report by BDS Analytics says that 69% of cannabis consumers in the US 
and Canada prefer inhaling to other cannabis consumption methods and 66% of 
medical/health consumers are doing so for pain management.  hapac® is designed 
to target consumers who are using cannabis for medical and health reasons and 
the benefits of hapac® over other inhalable methods, such as vaping cannabis 
oil, include 
 
  * Its pre-packed sachets deliver a measured dose of medicinal cannabis to the 
    user 
  * The manufacture of hapac® does not require the use of potentially toxic 
    solvents or synthetic additives 
  * hapac® offers a more authentic experience, close to smoking but without the 
    toxic effects of combustion 
  * hapac®'s patent pending sachets can be safely composted after use, making 
    them more environmentally friendly. 
 
The first hapac® making machine has been installed at LHT's Italian commercial 
partner's manufacturing facility and the first production 0.25g hapac® sachets 
containing CBD rich hemp have been delivered to their stores. In Italy, hapac® 
sachets will be sold under LHT's hap® brand, alongside specially designed hap® 
vaporisers. A limited roll-out has already started in Milan, with broader 
distribution beginning in January 2019.  Feedback from initial customers is 
very positive and the LHT team is on site to ensure the product rollout goes 
smoothly and to glean additional insights that can be used to further improve 
the marketing mix. Please see www.anandadevelopments.com or www.hapac.tech for 
images of the hap® vaporiser, consumable packs and point of sale materials. 
 
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 
                                                    ir@anandadevelopments.com 
Executive Director 
Melissa Sturgess 
 
Investor Relations 
Jeremy Sturgess-Smith 
 
Peterhouse Capital Limited                                +44 (0)20 7469 0930 
 
Corporate Adviser 
Fungai Ndoro 
Mark Anwyl 
 
Corporate Broker 
Lucy Williams 
Duncan Vasey 
 
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

January 07, 2019 02:00 ET (07:00 GMT)