KANABO GROUP PLC ANNOUNCES FULL-SERVICE CONSULTING PROPOSITION FOR CANNABIS ENTERPRISES AND ENTREPRENEURS.
Kanabo Group Plc. (LON: KNB), a leading medical Cannabis and healthcare Company focused on R&D, the provision of medical grade cannabis-based products and telehealth for patients, today announced the formation of a new, partly owned, subsidiary to offer the Company’s unrivalled intellectual property in the cultivation and production of medical Cannabis products.
Adding to its existing portfolio and leveraging Kanabo Group’s years of industry-leading expertise in the commercialisation of Cannabis, the new subsidiary, Kanabo Agritec Ltd. (“Agritec”), will enter into agreements with customers to offer consulting advice and support on cultivation, processing and production of medical Cannabis products, to organisations and entrepreneurs entering or already active in the lucrative and growing Cannabis market.
The new subsidiary, in which Kanabo Group plc has a 40% stake via its wholly owned R&D company, Kanabo Research Ltd, has secured its first MoU, for the development of a 4,000kg indoor medical Cannabis cultivation project in Spain. Under the terms of its customer agreements, Agritec will also have the option of preferential access to the supply and part ownership of the facilities resulting from such projects.
Agritec’s three other shareholders are co-founders Ophir Shimshi and Eilon Bdil, experts in Cannabis regulation and cultivation and R. P. Growing Technologies Ltd., who each hold 20% of the issued share capital in Agritec.
Specifically, Agritec customers will benefit from Kanabo’s unrivalled expertise via multiple, turnkey consulting services:
Procurement, design and build of commercial scale, medical Cannabis cultivation facilities;
High-quality genetics and standard operating procedures for optimal medical Cannabis cultivation;
Post-harvest services including offtake agreements with Kanabo Group plc;
Design and draft reporting and documentation filing services with the local authorities;
Local training and ongoing consulting services.
This announcement represents a win-win-win situation for Kanabo Group, its new Agritec customers and consumers alike.
Avihu Tamir, CEO, Kanabo Group plc explains: “We are truly excited by today’s announcement. Agritec provides Kanabo Group plc an opportunity to realise the value of our extensive, existing intellectual capital in medical Cannabis cultivation and production, providing near-term consulting revenues. Secondly, it provides us a way to diversify, secure and quality control our supply of medical-grade Cannabis that will always meet our exacting standards, avoiding any wasted margin from product that does not meet the grade. In short, the new venture provides all the benefits and value of owning the cultivation supply chain, without the Capex and Opex requirement of building a cultivation operation ourselves. Furthermore, Kanabo consumers will be guaranteed a consistent, highest quality supply of medical Cannabis products, at all times.”
Agritec’s management and founders are established leaders in the development of Cannabis facilities, having established multiple cultivation and processing operations worldwide, prior to the launch of Agritec Ltd.
Ophir Shimshi, CEO, Agritec Ltd, commented: “We are excited to combine Agritec’s team experience with Kanabo’s extensive R&D knowledge and expertise, to bring this powerful, full-service consultancy offering to market. Agritec’s clients will benefit from Kanabo’s immensely valuable, tried, tested and proven playbook. Our range of consulting services deliver every strategic and operational consideration required by enterprises and entrepreneurs who wish to take advantage of the immense growth opportunities this market has to offer.”
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For further information, please visit http://www.kanabogroup.com/ or contact the following:
Kanabo Group Plc
Nic Barnes
Via RKM Communications Ltd
About Kanabo Group Plc
Kanabo Group Plc is creating a new standard in the medical cannabis industry to improve the well-being of millions of people around the world by providing a better alternative to the smoking of medicinal cannabis flowers. Kanabo, which was the first medicinal cannabis company to IPO on London Stock Exchange, has a focus on the distribution of cannabis-derived products for medical patients and non-THC products for CBD consumers.
The Group now comprises Kanabo Research Ltd, its wholly-owned R&D subsidiary, a Kanabo-branded medical-grade Cannabis based product line via its e-commerce store, The GP Service Ltd, a wholly-owned telehealth business and Agritec Ltd, a cannabis production consultancy subsidiary. The aim of the Group is to enable the entire Cannabis ecosystem, ultimately to optimise patient benefit and access to the highest-grade Cannabis-derived products available.
The Company has conducted extensive Research & Development to produce high-quality cannabis extract formulas, innovative medical-grade vaporizers, and various non-smoking consumption solutions. Kanabo sells a range of medical cannabis products and wellness CBD products in the Primary Markets, including its VapePod, which delivers a metered dose with every inhalation.
