17 September 2021
ANANDA DEVELOPMENTS PLC
(“Ananda” or the “Company”)
Research Facility Construction Update
Ananda, the AQSE-listed medical cannabis company creating UK-based operations to grow and provide carbon neutral, consistent, pharmaceutical quality medical cannabis for the UK and international markets, provides the following update on the construction of its research facility.
Since the Company’s update on 6 September 2021, works have continued on schedule at the medical cannabis research growing facility being developed in the UK by DJT Plants Limited (“DJT Plants”), the Company’s 50% owned subsidiary.
As previously announced the facility footprint has been increased. To provide further detail to shareholders, it now incorporates:
a dedicated growing room for female plants (which produce the resin secreting flowers used for medicinal cannabis)
a dedicated growing room for male plants (grown to pollinate the female plants)
a dedicated plant nursery
a dedicated room for mother plants (to guarantee genetic consistency of each generation of plants)
laboratory space (for trimming plants, analysing characteristics and test work)
enlarged work rooms
The facility is also being constructed to allow for thorough cleaning and to accommodate appropriate work flows and movement of plants through the work rooms. These are requirements for Good Manufacturing Practices (“GMP”) certification, which will be applied for in due course. The facility construction management team (supplied by Ananda’s partner JE Piccaver & Co (Gedney Marsh) Limited (“JEPCO”)) is well versed in all aspects of high plant care standards, as they are required in the salad leaf industry where JEPCO operates as a large-scale speciality grower. Salad leaves are not cooked before being consumed, so the team is very familiar with the required levels of hygiene, work-flow management and deep cleaning. JEPCO operates to Red Tractor standards, which were established in 2000 and which have grown to become the UK’s biggest farm and food standards scheme, covering all aspects of food safety, traceability and environmental protection. JEPCO is also accredited under Global GAP (the Global Partnership for Safe and Sustainable Agriculture) and is a Selected Grower under the Marks & Spencer Field to Fork programme.
DJT Plants holds a licence from the Home Office of the UK Government to grow >0.2% THC cannabis for research purposes.
The Directors of the Company accept responsibility for the contents of this announcement.
ANANDA DEVELOPMENTS PLC
+44 (0)7463 686 497
PETERHOUSE CAPITAL LIMITED
+44 (0)20 7469 0930
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
About Ananda Developments
Ananda is an AQSE-listed medical cannabis company creating UK-based operations to grow and provide carbon neutral, consistent, pharmaceutical quality medical cannabis for the UK and international markets.
The UK medical cannabis market is predicted to be worth £450m by 2025 and the European market is predicted to be worth USD4.2bn by 2027.
Ananda, through its 50% owned subsidiary, DJT Plants Limited, was granted a Home Office licence in May 2021 to grow >0.2% THC cannabis in a new research facility to breed and stabilise 65 strains.
For more information, please visit: https://anandadevelopments.com/