NewsLeading UK CBD And Medical Cannabis Company Sold For...

Leading UK CBD And Medical Cannabis Company Sold For Over £10m To Canadian Seed-To-CBD Firm


ONE of the UK’s first market-listed medical cannabis and CBD companies has been sold to Canadian producer Stillcanna for over £10m.

Following months of talks Vancouver-based Stillcanna announced late yesterday (GMT) the multi-million pound deal had completed.

Sativa Group, formerly known as Sativa Investments, was listed on the junior NEX exchange – now the AQSE Growth Market – in March 2018. 

Sativa was established as a medical cannabis investment vehicle with the aim of investing primarily in Canadian cannabis companies.

Change Of Heart

However, following the faster-than-expected legalisation of medical cannabis in the UK in November 2018, Sativa changed its name and its strategy to focus on British operations.

It now has a spread of business interests across the CBD wellness and medical cannabis space, comprising five operating subsidiaries. 

Stillcanna is listed on the Canadian Securities Exchange and the Frankfurt Stock Exchange possessing large-scale growing, manufacturing and wholesale/white-label operations in Poland. 

In a market release Jason Dussault, CEO of Stillcanna, said: “Trust is the most important commodity a brand must procure and maintain to be successful, this is especially crucial in a nascent sector such as CBD wellness. 

“The merger of the Sativa Group and Stillcanna will secure this commodity through the stewardship of this special cannabinoid from seed through to cultivation and extraction, and now testing, bottling and distribution.”

Henry Lees-Buckley, CEO of the Sativa Group, said: “We are very excited about the combination of the Sativa Group and Stillcanna. This creates a true European ‘seed to consumer’ CBD wellness and medicinal cannabis group; cultivating and extracting the highest quality CBD, through to developing and producing the highest quality finished consumer products. 

“This integrated approach supported by optimised production capabilities and laboratory testing allows us to position our brands for strong sales growth not only in the UK but across Europe”.

Over 100 UK High Street Stores

Sativa’s businesses include CBD brand Goodbody Botanicals, and in 2019, it announced plans to open over 100 Goodbody Wellness high-street stores in the UK.

Tessellate Collective is a direct-selling network marketing platform servicing consumers at home. Phytovista laboratories provides independent CBD product testing. 

Sativa Grow holds a Controlled Drug licence and cultivates cannabis plants to fulfil its partnership agreement for researchers at King’s College London.

Stillcanna announced its intent to purchase Sativa in April, with a closing date for completion of the deal set out for yesterday, June 3. The deal comprises of a share for share exchange with a value of £10,409,022.

Novel Food Application

The market release added: “Sativa’s and Stillcanna’s beliefs and visions for the cannabis industry are aligned, and both companies feel strongly that only a fully integrated seed to consumer business will have the pricing, products, and stability to meet the cannabis market demand in the medium term.”

Stillcanna went on to say its Polish facilities will be capable of processing up to 100,000 kilos of premium organic hemp annually.

Both companies feel strongly that only a fully integrated seed to consumer business will have the pricing, products, and stability to meet the cannabis market demand in the medium term.

Sativa Group and Stillcanna

It also said it had begun its UK Novel Food Application and is ‘ready to submit its active ingredients for both stability and toxicology tests’.

Stillcanna currently works as exclusive extractor for UK CBD business Dragonfly Biosciences. 

The new Stillcanna board will be made up of six directors, including five from Sativa. Henry Lees-Buckley is CEO, with Stillcanna’s sole representative, current CEO Jason Dussault. 

Peter McCusker is an experienced news and business editor, who believes it’s time to fully embrace the multiple, proven, medical benefits of the cannabis plant.

Latest news

Tilray’s Medical Cannabis Product Now Available And Reimbursed Under Ireland’s Medical Cannabis Access Program

PRESS RELEASE TILRAY Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis company inspiring and...

Grow Group, Kanabo, MGC Pharma & Celadon Pharma All Report Growing Revenues, But Continue To Post Losses

AMID the economic chaos that dominated the headlines over the past week, nearly half-a-dozen UK-based or UK-listed cannabis companies...

MGC Pharma Announces Appointment Of UK Advisor And New COO/Deputy CEO

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') a European based bio-pharma company specialising in the production and development...

Sanity Group’s Record Funding Round Led By BAT Could Bring More Big-Tobacco Capital To Cannabis, But Concerns Remain Over Conflicts Of Interest

LAST week Berlin-based cannabis operator Sanity Group closed Europe’s largest ever cannabis investment round worth €37.6m, bringing its total...

European Cannabis Stocks Review: £22m Wiped From LSE-Listed Cannabis Stocks Amid Market Chaos

FOLLOWING a few weeks of relative positivity for many of the stocks listed on the London Stock Exchange (LSE),...

German SPD Representatives Confident A Solution To International Legal Hurdles Will Be Found

EARLIER this month news broke that recent analysis conducted by the Bundestag's scientific service suggested the creation of a...

Must read

You might also likeRELATED
Recommended to you