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Apollon Formularies Plc - Admission to Trading on AQSE and Apollon Ltd Consent

·4-min read

13 April 2021

Apollon Formularies PLC
(“Apollon” or the “Company”)

ADMISSION TO TRADING ON AQSE GROWTH MARKET AND FIRST DAY OF DEALINGS

CONSENT FROM APOLLON LIMITED SHAREHOLDERS

Apollon Formularies PLC (AQSE: APOL) is pleased to announce that admission of the Company's ordinary shares to trading on AQSE Growth Market ("Admission") will take place and dealings will commence at 8.00 am GMT today, Tuesday 13 April 2021, under the ticker “APOL” (ISIN: IM00BJ0LRD77).

Highlights

  • Successful £2.5 million fundraising at 5p which was oversubscribed. Peterhouse acted as corporate broker

  • Apollon’s Jamaican affiliate has a federal licensing framework that allows it to operate a fully integrated seed to patient business

  • Apollon’s Jamaican affiliate’s processing laboratory based in Negril, Jamaica is able to produce high volumes of full spectrum medical cannabis oil, using both high and low THC cannabis plant material

  • Apollon’s Jamaican affiliate’s R&D licence allows its medical team to undertake full spectrum, medically supervised treatments and conduct clinical trials as approved by the Jamaican Ministry of Health

  • Proceeds will be used to, among other things, scale up operations, identify international customers for its high quality oils, commercialise development of its 3D-printer for production of medical cannabis sublingual, oral and suppository products, and continue its R&D in an effort to develop the Apollon product line range of both high and low THC oils and products, expand cultivation and processing of its formulations and increase capacity and international export for its medical cannabis treatments

The Company notes that the Vendors of Apollon Limited, voted their shares 100% (excluding those shares already owned by the Company) in favour of the Offer.

Dr Stephen Barnhill, CEO of Apollon Formularies Plc, says:

"Today we achieved an important milestone and I am proud of the team and the work that has been done to get us here. With a full listing on the AQSE Growth Market, we will now set about to scale up our already impressive operation.

“Apollon currently holds a unique position as one of the few listed European companies able to undertake medically supervised treatments inclusive of utilising THC to allow for drug discovery and the development of additional formulations to add to our already successful product line range. This listing in London offers investors the opportunity to be a part of a full spectrum medical cannabis company as it moves to implement its international growth strategy. This is an exciting time for our Company, as well as the entire medical cannabis space across the UK and Europe, and we look forward to updating the market as we continue to deliver upon our strategy.”

About Apollon

Apollon Formularies plc is an international medicinal cannabis pharmaceutical company. Apollon Formularies Jamaica Limited (“AFJ”) is the principal entity with which Apollon has an interest. AFJ is a government licenced medicinal cannabis company incorporated in Jamaica and is licensed and approved to cultivate, process, perform research and development for, and sell medical cannabis therapeutic products.

AFJ is currently producing pharmaceutical, nutraceutical, and other medical cannabis related products, including 3D printed sublingual, suppositories and capsules. It was established to advance the current significant commercial opportunities in the legal medical cannabis markets globally.

Key strengths

  • AFJ operates at the Federal level in Jamaica and holds a suite of licences that allows it to be a fully operational, vertically leveraged medical cannabis enterprise

  • AFJ’s cultivation licence allows it to develop and grow strains of cannabis for medicinal uses

  • AFJ’s Processing Laboratory is based in Negril, Jamaica, and is able to produce full spectrum medical cannabis oil, which is inclusive of THC

  • AFJ’s R&D licence allows it to undertake initiatives for drug discovery using THC and other cannabinoids to develop a range of products that are backed by clinical data

  • AFJ’s science and medical professionals have developed and use proprietary artificial intelligence to identify compounds and develop formations that can be productized, tested, clinically trialed, and then used on various illnesses under medical supervision

  • AFJ owns and operates a therapeutic medical cannabis dispensary onsite in Jamaica

  • AFJ has created and/or obtained, identified, developed, and commercialised several proprietary hybrid medical cannabis pharmaceutical strains, technology, formulations, and treatment products

  • AFJ’s vertically licenced, full spectrum medical cannabis framework gives the Company the unrivalled ability to perform medically supervised treatments

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

- Ends -


For additional information please contact:

Apollon Formularies
Tel: +44 207 907 9314
Stene Jacobs stene@apollon.org.uk

Peterhouse Capital Limited (Corporate Adviser)
Tel: +44 207 220 9795
Guy Miller gm@peterhousecapital.com

Blytheweigh (Financial PR/IR-London)
Tel: +44 207 138 3204
Tim Blythe tim.blythe@blytheweigh.com
Megan Ray megan.ray@blytheweigh.com