A Slovenian cannabis corporation has listed on a junior London stock marketplace raising more than 5 million euros to fund its ambitious European development plans.
Freyherr International has 20 hectares of hemp cultivation in its household nation and two hectares of health-related cannabis expanding in North Macedonia, which legalised health-related cannabis in 2016.
Enterprise boss Tomaž Frelih told Proactive Investors that it was attracted to the London NEX exchange as a way of accessing development capital and demonstrating to investors that it is a ‘serious, structured business’.
He says the corporation will use the money to upgrade its facilities and appear to create its vertically-integrated company model in other jurisdictions exactly where health-related cannabis has been authorized – a possible marketplace of more than 20 nations, he mentioned.
200-Years Of History
The company’s history stretches back pretty much 200 years to when it was co-founded by a member of the Freyer family members. They moved from the Czech Republic to Slovenia exactly where they became recognized as pioneers in pharmaceuticals.
Freyherr International is the U.K. parent corporation of a group of medicinal cannabis firms which includes cultivation company Freyherr d.o.o, pharmaceuticals company Freyherr d.o.o. and dispensary unit Patron do.o.
Mr Frelih says its lengthy-term ambitions is to embrace a pharma-primarily based method which will see it make higher-good quality, health-related grade cannabis. The company’s cannabis operation was initially established in Slovenia pretty much 5 years ago, and in its 1st statement to the NEX Exchange earlier this month Chairman Tony Burke elaborated.
“I’m delighted with the progress the Group has produced because the starting of the year and all organizations in the group continue to increase functionality.”
Higher-High-quality Pharma Cannabis
He went on to say it is focused on ‘cannabinoid study and improvement from plant cultivation to finish item, which includes enhancing extraction, production, and the provide of cannabinoid solutions to the medicinal, cosmetics, and edibles sectors’.
He says its biggest buyers are in Slovenia, Austria, Spain, U.K., Ireland and the Netherlands. Freyherr is also expanding into new markets, which includes Brazil, New Zealand, Australia and South Africa, he mentioned.
Its solutions are sold in more than 700 pharmacies in North Macedonia, and it is organizing an ‘aggressive’ expansion into other markets. When Slovenia has but to permit health-related cannabis, and it is nevertheless an illegal drug, possession has been decriminalized and CBD and hemp oils are legal.
Meanwhile, North Macedonia legalized expanding cannabis for health-related purposes in 2016, and Prime Minister Zaev, is a vocal supporter of the market.