DJ Freyherr International Group PLC Statement re: Merger of Subsidiaries
RNS Number : 4196U
Freyherr International Group PLC
22 November 2019
Freyherr International Group plc
Statement Re: Merger of Subsidiaries
The Directors of Freyherr International Group plc ('Freyherr International' or 'the Company'), the medicinal cannabis group based in Slovenia, are pleased to announce that they have completed the merger of two of the Slovenian operating companies, Freyherr d.o.o. and Freyherr Pharma d.o.o. with effect from 15(th) November 2019.
Freyherr Pharma d.o.o. is the universal legal successor to Freyherr d.o.o. and has assumed all its rights and obligations and acquired all its tangible and intangible assets. The business and services provided by the Slovenian companies remain unchanged and Freyherr Pharma d.o.o. becomes a direct 100% subsidiary of Freyherr International. Appropriate entries were made in the Business Registry in Ljubljana on 21 November.
Mr Frelih, the CEO of Freyherr, said:
"We're delighted that we've now completed the merger of these two companies. This integration will facilitate the improvement of our processes and streamline our internal communications and reporting lines. It should also simplify the application processes for further GMP certificates and other licensing and regulatory approvals."
The directors of the issuer accept responsibility for the contents of this announcement
For further information please contact:
FREYHERR INTERNATIONAL GROUP PLC Toma Frelih Freyherr International Group plc No.1 London Bridge London SE1 9BG 00 386 (41) 444 845 CITY & MERCHANT LIMITED Corporate Advisor 0207 101 7676 David Papworth email@example.com Level 17 Dashwood House 69 Old Broad Street London EC2M 1QS HELFORD CAPITAL PARTNERS LLP Investor Relations Tony Burke 97 Jermyn Street London SW1Y 6JE 020 7839 5081
Note to Editors:
Freyherr International Group plc is the UK parent company of a group engaged in the production of medicinal cannabis and CBD products. The group is committed to research, development, cultivation, processing and production of Active Pharmaceutical Ingredients ("APIs"), final products and dosing packaging. Operations are centered in Slovenia and the Group principally operates within the EU.
Freyherr Pharma d.o.o. is the pharmaceutical arm of the Group and holds an EU GMP certificate. It operates from a certified production facility, manufactures CBD products for the Group and produces white label CBD products for customers in various EU countries. Its quality assurance department specializes in EU pharmaceutical quality systems, and particularly those relating to cannabis specifically. An important strength of Freyherr Pharma is also research and development department which has expertise in the cultivation, processing, formulation and legal and regulatory compliance of cannabis-based products. Freyherr Pharma has also invested in cannabis production facilities in other jurisdictions.
Patron d.o.o. is the dispenser production arm which has been operating since 2015. It develops, produces and markets products suitable for dosing concentrates and extracts. The company also offers analytical services for the determination of the cannabinoid content (CBD, THC and 11 other cannabinoids) of dried plant material, extracts, concentrates or finished products.
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(END) Dow Jones Newswires
November 22, 2019 10:15 ET (15:15 GMT)