DJ Eight Capital Partners PLC Investment in Greencare Capital plc
RNS Number : 2452Y
Eight Capital Partners PLC
30 December 2019
Eight Capital Partners plc
("Eight Capital" or the "Company")
Investment in Greencare Capital plc
-- Investment of GBP280,000 in newly quoted NEX investment vehicle Greencare Capital plc ("Greencare")
-- Investment represents an interest in 21.2% of Greencare
-- Greencare's investment strategy is to invest in the European medicinal cannabis, hemp and CBD wellness sectors
The Board of Eight Capital is pleased to announce an investment in aggregate of GBP280,000 into Greencare Capital plc in two rounds prior to and on admission. Greencare is focused on the rapidly changing regulatory environment surrounding legal Medicinal Cannabis as well as investment opportunities within the Hemp and CBD wellness sectors and other plant-based medicines. Greencare was admitted to trading on the NEX Exchange Growth Market ("NEX") today raising GBP515,000 on admission.
Greencare aims to identify investment opportunities in the cannabis sectors predominantly in Europe and its directors are aware of a number of potentially attractive investment opportunities such that they are hopeful that an investment may be made in the short term. Whereas many investors are focused on production, the first target investment of Greencare is a company with a market leading position in the distribution of cannabis and related products in its home country, one of the largest European economies.
This investment in Greencare fits with Eight Capital's strategy of investing in financial services including investing companies. The Board of the Company recognised the significant potential in the wellness industry in particular in the fast developing cannabis investment market globally and are excited to have been able to be one of the founding investors in Greencare.
A company beneficially owned by Eight Capital Partners' Chairman Dominic White (E Value One Ltd) is also a founder investor in Greencare and a significant shareholder. Whilst the Company and E Value One Ltd invested alongside each other, Eight Capital operated its processes transparently and with independence of decision making.
The directors of the Company take responsibility for this announcement.
Eight Capital Partners plc +44 20 3808 0029 Dominic White email@example.com Cairn Financial Advisers LLP NEX Exchange Corporate Adviser Jo Turner / Liam Murray +44 20 7213 0880
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact firstname.lastname@example.org or visit www.rns.com.
(END) Dow Jones Newswires
December 30, 2019 04:35 ET (09:35 GMT)