Kanabo is an Israel based research and development company which currently sells a range of THC-free retail cannabidiol (CBD) products in its primary markets of the UK and Germany. Following completion of the acquisition, Kanabo’s core strategy will be to increase revenues from the sale of Kanabo’s existing retail CBD products (vaporisation devices) and to grow the Kanabo brand through marketing initiatives.

Kanabo is currently undertaking a pilot scheme to measure a number of key performance indicators in relation to the sale of its products, including consumer preferences, demand for products, effectiveness of the supply chain and compliance with quality controls. Following completion of this pilot, the enlarged group will implement the second phase of its strategy aimed at delivering growth in sales of its products, based upon the findings of the pilot. Kanabo Group plc’s long-term strategy involves continued research and development, in order to establish a range of unlicensed medical cannabis oils, to be sold alongside its vaporisation device, the VapePod Medical.

Shareholding:0.36%