Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Thursday 04 February, 2021

Cellular Goods PLC

Intention to Float on the LSE

RNS Number : 9347N
Cellular Goods PLC
04 February 2021
 

Press Release

04 February 2021

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA ("EEA") (OTHER THAN ANY MEMBER STATE OF THE EEA WHERE SECURITIES MAY BE LAWFULLY MARKETED) OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.   This announcement is an advertisement for the purposes of the Prospectus Rules of the UK Financial Conduct Authority ("FCA") and not a prospectus and not an offer to sell, or a solicitation of an offer to subscribe for or to acquire securities. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information contained in the prospectus (the "Prospectus") in its final form expected to be published by Cellular Goods PLC in due course in connection with the proposed admission of its ordinary shares to the standard listing segment of the Official List maintained by the FCA (the "Official List") and to trading on the London Stock Exchange plc's (the "London Stock Exchange") main market for listed securities (the "Main Market"). Copies of the Prospectus will, following publication, be available for inspection from www.cellulargoods.co

 

Cellular Goods PLC

("Cellular Goods" or "the Company")

            Intention to Float on the London Stock Exchange

Cellular Goods PLC, a UK-based provider of premium consumer products based on biosynthetic cannabinoids, is pleased to announce its intention to join the main market of the London Stock Exchange this spring.  

The flotation is expected to value Cellular Goods at approximately £20m and will make it the first LSE-listed "pure-play" consumer cannabinoid brands company and the first to use biosynthetic cannabinoids.

The Company will apply for a standard listing and raise approximately £8m through an initial public offering for its ordinary shares that will include a retail offer. Tennyson Securities, Novum Securities and PrimaryBid are acting as Joint Bookrunners and Corporate Brokers for the Company.

Net proceeds from the IPO will be deployed to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.

The market for CBD-based products is expected to grow rapidly as cannabinoids gain wider consumer acceptance, the regulatory environment undergoes gradual change, and a rapidly growing number of scientific papers validate their potential benefits. The US market for CBD sales is expected to exceed $20 billion by 2024, according to BDS Analytics and Arcview Market Research.

In 2019, the UK's Centre for Medicinal Cannabis (CMC) found that 1.3 million British consumers were using CBD-based products and estimated that the market could be worth almost £1bn a year by 2025. The same research estimated that those 1.3 million British consumers were spending over £300m annually on CBD products.

Alexis Abraham, chief executive of Cellular Goods, said: "We are delighted to be the very first pure-play consumer cannabinoid company to list on the LSE. The past few years have seen massive growth and awareness of the importance of wellness and self-care and we believe cannabinoids will prove to be the king of wellness ingredients. A London stock market listing will provide us with the profile, credibility and access to global capital to drive our growth. There is a burgeoning market for high quality cannabinoid products but the industry is currently highly fragmented and there is no go-to name that consumers can trust across product categories."

Company Highlights

Cellular Goods was established in August 2018 to develop efficacy-led and research-backed cannabinoid products. The initial focus is on two product verticals: premium skincare and topical athletic recovery products. These will be made available through partnerships with leading online and physical retailers and direct to consumers through the Company's website.

The Company has partnered with four leading biosynthetic cannabinoid producers in the US who have experience and expertise in the manufacture of these compounds through a fermentation-based process to secure a consistent supply of legally compliant raw materials.

The production of biosynthetic cannabinoids does not involve the cultivation or processing of the cannabis sativa plant.

 

 

For further information please contact:

 

Cellular Goods 

 

Alexis Abraham

Chief Executive

 

 

Neil Thapar

Investor Relations

+44 207 031 6871

 

 

 

+44 787 645 5323

Tennyson Securities

 

Corporate Broker

Peter Krens

 

+44 207 186 9030

Novum Securities

 

Corporate Broker

Colin Rowbury

Jon Belliss

 

 

 

+44 207 399 9427 

 

 

 

PrimaryBid

 

Retail Broker

James Deal

 

Mike Coombes 

 

+44 203 026 4750

 

 

 

Tancredi Intelligent Communication

Media Relations

 

Helen Humphrey

Edward Daly

Salamander Davoudi

[email protected]

 

+44 744 922 6720

+44 795 429 2488

+44 795 754 9906

 

 

Board members:

Peter Wall, Non-Executive Chairman

Peter is a technology and cannabis entrepreneur. He has a history of 'firsts' across various industries, including being a core team member of Argo Blockchain PLC, the LSE's first cryptoasset company listing; founding Hubud, Bali's first co-working space; and launching Wildflowers, one of the first Canadian meditation apps.

Alexis Abraham, Chief Executive Officer

Alexis has worked for two decades in strategic branding, communications, and internet-enabled businesses. He founded a diverse pair of consumer-tech solutions: a leading specialist stationery platform in the UK, and a disruptor of the theatre ticketing market in South Africa. At design agency Pentagram, he worked with the Savoy Hotel, Dorchester Collection, Mothercare, and software pioneer, Thoughtworks, among other global clients.

Eric Chang, Chief Operating Officer

Eric is an experienced pharmaceutical and healthcare executive with management and business development experience. He began his career at Vancouver Coastal Health followed by a management role at Health Canada. Eric led the Clinical Services and BD teams in Western Canada for AmerisourceBergen and Shoppers Drug Mart Specialty Health Network.

Simon Walters , Finance Director

Simon qualified as an accountant and worked in corporate finance. He then joined Fuller Peiser as Finance Partner, before becoming FD of the Molyneux property group with its controlling interest in a listed PLC. Simon has also been a non-executive director of AIM-quoted Bilston & Battersea Enamels plc; FD of the Fish! chain of restaurants; a director of NetFM, an internet radio station; FD of AIM-quoted AFC Energy plc and Neville Porter plc; and FD of main market-listed OTAQ plc.

Darcy Taylor, Non-Executive Director

Darcy has over 20 years of senior experience building companies and brands in Asia, Europe and North America. He has a proven track record in C-suite and senior leadership roles at IMG Canada (now Endeavor LLC), Logic Technologies Inc, JT International S.A. and MASEV Communications Inc. His experience spans corporate, agency, and entrepreneurial environments.

David Gardner, Non-Executive Director

David is Managing Director of DB Ventures Limited, overseeing David Beckham's commercial businesses, partnerships and global brand management. He is a director of businesses in David Beckham's portfolio including the Seven Global joint venture with Global Brands Group and Studio 99, the content studio and production company. He is helping to grow Inter Miami CF, the MLS franchise in which Beckham is a co-owner. 

Ross Connolly, Non-Executive Director

Ross has worked in sports and entertainment for over ten years. At CAA he joined their sports talent and property sales group, tasked with building the talent offering. Key client signings included Harry Kane, Philippe Coutinho and Nico Rosberg. After three years at CAA, Ross joined KIN to run their commercial partnerships team, managing high-profile clients Neymar Jr, Chelsea FC and Inter Miami CF. His work with David Beckham's management team led to his move to DB Ventures as Commercial Director.

Key Management:

Alexia Blake, Head of Research and Product Development

Alexia is a pioneer in the cannabis industry with a proven track record of developing efficacious products based on science and clinical evidence. Leveraging her food industry experience, she began her career in the cannabis space at MedReleaf Corp, one of the first Canadian producers of medical cannabis to receive a license from Health Canada. During her time there, she led the development of premium medical cannabis products, including the first oil-filled capsules and topical cream available in the market. While at MedReleaf, the company became one of the largest global producers of legal cannabis and was eventually acquired in 2018 by Aurora for $2.5 billion. Alexia led the development of Aurora's global CBD portfolio for the health and wellness market before joining LAVVAN Inc, a leading pioneer focused on commercialising high-quality cannabinoid ingredients produced using synthetic biology for the health, beauty, food, beverage and pharmaceutical markets. 

Advisers:

Etan Bendheim

Etan is President of LAVVAN, a pioneering cannabinoid biosynthesis company. Etan has a diversified background with experience in corporate strategy, manufacturing and finance. Before joining LAVVAN, he spent a decade working in various roles at Phibro Animal Health Corporation (PAHC), a global diversified animal health and mineral nutrition company.

Daniel Weil

Daniel studied architecture at the University of Buenos Aires and later became a professor of Industrial Design at the Royal College of Art. He joined Pentagram's London office in 1992 where his clients included United Airlines, for whom he designed cabin interiors, tableware, seating, amenities, staff uniforms and the lounges for First, Business and Economy classes. Daniel has also worked with Grupo Assa and most recently worked on the rebranding of World Chess. Former clients include Swatch, Mont Blanc, Lego, Coca-Cola, Boots and The Dorchester in London.

Istok Nahtigal

Istok is an industrial and chemical engineer with an impressive track record of advisory and directorial roles, with experience heading research and development teams, managing technical operations and directing construction of state-of-the-art industrial equipment. He is currently President of Morgengaete Ionics Inc, an applied science innovation firm with a focus on developing and commercialising disruptive 'green' chemical processes. Previously, Istok was Director of Process Sciences at LAVVAN and continues to advise the company.

ENDS

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 [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ITFDZGGZLFVGMZM

a d v e r t i s e m e n t