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Sativa Group PLC - UK's first prestige CBD wellness chain launched

RNS Number : 9770D
Sativa Group PLC
01 July 2019
 

Press Release 

 

1st July 2019

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. 

 

 

Sativa Group Plc

 

 ("Sativa") or ("the Company") or ("the Group") or ("Group") 

 

First Goodbody CBD Wellness specialist retail outlet opens in Bath 

 

 

Sativa Group Plc (NEX: SATI), (or "Sativa" or "the Company" or "the Group"), the UK's leading quoted medicinal cannabis and wellness cannabidiol (CBD) Group with two fully trading UK businesses, added a third on Saturday 29th June with the opening in Bath of the first of a planned national chain of Goodbody Wellness specialist retail outlets. 

 

The store was launched last Friday evening by Mr Crispin Blunt MP, Member of Parliament for Reigate, and Co-chair of the All Party Parliamentary Group for Drug Policy Reform

 

Whilst not in any way a Group forecast, in the first weekend of trading, footfall, turnover and average transaction value were ahead of expectations on both days.  Customer feedback was exceptionally positive with them engaging with trained staff about the key elements of product traceability, testing, and balance in terms of wellness.  The Directors believe that this early success is proof of concept.  Cirencester and Clifton, Bristol branches are to follow within weeks. 

 

The 60.67 sq. m. (653 sq. ft.) retail unit has frontage on to the prime, high footfall, Broad Street and Milsom Place City-centre shopping destinations.  It provides a range of more than 50 CBD products, and offers customers the opportunity to try CBD infused coffee and tea.  Customers also have the opportunity to purchase CBD coffee in bean form and tea to take home and enjoy in their own environment.  Opening hours are Monday - Saturday 09:00 am to 6.00 pm and Sunday 11:00 am to 5:00 pm

 

The consumer experience consists of focused knowledge and support from highly trained staff who are able to advise customers on the range of CBD products available and the best way to use and apply those products.  CBD is believed to boost the body's endo-cannabinoid system which works to restore homeostasis and balance.  CBD enriched products available include skincare, tinctures, balms, bath bombs, vape oils, body oils and capsules. 

 

All of the stock passes scientific laboratory testing by Sativa's own independent laboratory, Phytovista, sits within the legal content guidelines, and the amount of CBD contained being as described. 

 

Geremy Thomas, Sativa's Chief Executive and founder, said:  "Goodbody Wellness is the UK's first prestige CBD store and the Bath launch was a great success, with customer feedback being that the format is exactly what they wanted. 

 

"This opening marks the start of what we intend to be a major high street journey for Goodbody as CBD wellness products gain wider acceptance in the UK

 

"Our product development and manufacturing capability allows multiple routes to market and the roll out of our Goodbody store network will drive revenues.  Bath is the first of three pilot stores after which the Company intends to roll-out a national franchise network, because the Directors believe that this is the fastest and least capital-intensive route to a national footprint."  

 

The Directors of the Company accept responsibility for the contents of this announcement. 

 

Photographs of the official opening by Mr Crispin Blunt MP have been despatched to national picture desks and are also available from Abchurch. 

 

 

-Ends-

 

 

For further information: 

 

Geremy Thomas

Founder & Chief Executive Officer

Sativa Investments PLC

+44 (0) 20 7971 1255

[email protected]

Joseph Colliver

Chief Financial Officer

Sativa Investments PLC

+44 (0) 20 7971 1255

[email protected]

 

NEX Exchange Corporate Adviser

 

Corporate Finance 

 

Stephen Keys / Max Gould 

Cenkos Securities plc 

+44 (0) 20 7397 8900

 

Equity Sales 

 

Julian Morse

Cenkos Securities

+44 (0) 20 7397 8900

 


Financial PR and IR

 

Abchurch Communications

Julian Bosdet

+44 (0) 7771 663 886 

[email protected]

www.abchurch-group.com 

 

 

 

 

 

 

 

Notes to Editors 

 

Sativa is a seed to Consumer medicinal cannabis and cannabidiol (CBD) wellness business, focused on the smart-sourcing of the raw material, advanced extraction, manufacture, testing, distribution, and research & development of medicinal cannabis and CBD products.  The Company has a Home Office licence application in process which, when granted as the Directors believe it will be as the application is in its final stages, will enable the Company to engage in the highly regulated process of growing, strictly for medicinal research & development purposes only, Tetrahydrocannabinol (THC) rich cannabis flowers at its high-security Somerset headquarters.    

 

The Company joined the UK's NEX market in March 2018 as the UK's first medicinal cannabis investment vehicle and since then has capitalised on its first-mover advantage, developing a substantial UK bridgehead into what the Company believes will be a significant market in the future.  Two UK operating subsidiaries, PhytoVista Laboratories and George Botanicals, are already well established and fully trading with healthy gross margins in independent CBD testing and CBD wholesale & retail respectively.    

 

Phytovista has conducted over 1000 independent tests and George Botanicals develops, manufactures and distributes low-THC CBD wellness products.  Other important future revenue streams are at various stages of development from concept to actual launch, with the first Goodbody CBD wellness centre opening in Bath on 28th June.    

 

Prior to the Listing, Sativa's founder and CEO, Geremy Thomas, spent 12 months researching the global medical cannabis and CBD industries at his own personal expense.  He based himself in Canada, the most advanced country in terms of medicinal cannabis acceptance and regulation, travelling to America, Australia, the Far East, and Europe to connect with industry leaders and participants.  The Company on Listing was therefore already internationally connected, and this has given it a head start within the UK industry for smart-sourcing and the adoption of advanced value-add techniques and models.    

 

In May 2019 the Company obtained permission from NEX Exchange to reclassify itself as a trading company, having delivered on its original investment strategy.  Benefits of this include widening the appeal of the equity opportunity to additional types of investors including institutions and family offices, many of which are precluded from investing in fund-type vehicles.    

 

 

Sativa has a highly experienced Medical Advisory Board, Chaired by Sir Alasdair Breckenridge, a former Chairman of the Medicines and Healthcare Products Regulatory Agency (MHRA).  He is joined by Dr Matthew Brown, an award-winning pain consultant at The Royal Marsden Hospital, Dr. Peter Fedlshreiber, a barrister and physician specialising in medical law, and Dr. Stuart Ungar, co-founder of the Doctors Laboratory and who researched biochemical neuropsychopharmacology at the Royal Free Hospital.   

The Company has a strong senior management team and Board team including Joseph Colliver FCA as Chief Financial Officer and a Board Director, and Jonathan Wearing, a seasoned City corporate financier, as Chairman.  Dr Nick Horniman, Director of Regulatory Affairs, has over thirty years of experience in the veterinary industry and he co-ordinates the Group's ongoing relationships with regulators such as the Home Office, Food Standards Agency (FSA) and the Veterinary Medicines Directorate (VMD).  He is also investigating the significant opportunities for medicinal cannabis and CBD products in the pet and equine markets.  Chris Jones, a retail management professional who was instrumental in building the Phones 4U chain, leads the team developing the Goodbody wellness centres, which will offer customers a variety of high-quality CBD products.    

 

Sativa's smart-sourcing strategy enables it to define the crucial factors of seed strain, growing techniques and environment, along with extraction methods, all of which are imperative to the quality of the end-product.  Phytovista Laboratories confirms the cannabinoid profile and quality of each batch on delivery to ensure that it is regulatorily compliant, is free of unwanted chemical elements, and is of proven origin.  The commercial off-take agreements that the Company is entering in to will contribute to quality assurance, forecasted forward quantities of supply, consistency, and pre-determined pricing, rather than spot pricing.    

 

The Group's activities include the Sativa Foundation, which awards research grants to academic institutions in order to further research & development into the efficacy of the full spectrum of cannabinoids.  In April 2019 the Company entered into a three-year research agreement with King's College London to research the impact of cannabinoids on inflammation and respiratory diseases. 

    

Sativa has invested in two Canadian-based businesses, pharmaceutical company Veritas Pharma Inc.  and a Rapid Dose Therapeutics Inc.Both of these provide Sativa with valuable know-how alongside their investment potential.  The Company also has a 60% share of a joint venture with Germany's Lexamed GmbH, providing a foothold into the German market.    

 

For more information on Sativa Investments, please visit: www.sativainvestments.co.uk 

 

·              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.
 
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