PERTH, SCOTLAND: Voyager Life Plc, Cannabidiol (CBD) and hemp seed oil producer, has formally applied for admission to the Aquis Stock Exchange (AQSE) Growth Market (Access Segment), as it prepares to open its first store and extend its product range, a news release said.
Voyager was founded by chief executive Nick Tulloch in November 2020, to capitalise on the significant opportunity he believes exists due to the forecast growth and ongoing regulatory changes in the UK’s CBD market, which is expected to surpass the value of the entire herbal supplements market and be worth more than £1bn by 2025.
In February 2021, Voyager raised £874,000 through a crowdfunding campaign on Seedrs, and in April 2021 raised a further £741,000 through a private fundraise, including a commitment of £100,000 from Greencare Capital plc, the Aquis-listed investment company focused on medicinal cannabis and related areas.
Voyager has opened more than 20 new trading accounts with independent retail stores and chains in the last month, representing another potentially significant source of revenue for the firm which has, to date, relied largely on online sales through its own website (VoyagerCBD.com) and more than 20 third-party sites, including popular online platforms Amazon, eBay and Etsy.
The Company has also signed a lease on retail premises in St Andrews, the picturesque, historical university town on Scotland’s east coast. The shop, on the town’s Market Street, is due to open by early July 2021 and is the Company’s first foray into physical retail space, with the possibility of more shops to follow soon in other UK towns and cities if the Fife store proves successful as a means of showcasing and distributing its products to consumers and in raising brand awareness.
Voyager has a growing range of CBD and hemp seed oil products, including oils, ‘gummies’ for oral consumption, bath products and skincare products. In May 2021, Voyager added a Paw Balm to its increasingly popular pet range, which combines organic hemp seed oil and cooling aloe vera to soothe and relieve cracked paw pads and noses, and this week introduced eco-friendly hemp dog leads to further boost this range. In the coming weeks, Voyager plans to launch several new products within its core focus areas, in particular extending its bath care and sport ranges and, later in the summer, the Company has plans to bring its total product count to over 30 with the launch of a new skincare line.
Nick Tulloch, founder and chief executive of Voyager, said: “We are adopting a strictly professional approach to establishing the Company and developing our business. CBD is a fast-growing industry so it should be no surprise that it will attract increasing attention from regulators. Mainstream retailers will, rightly, only deal with fully compliant businesses, so the strict governance framework we have established as part of the fabric of Voyager is a key element of our approach. We are realistic and do not expect overnight success, but I am encouraged by the pace of growth we have achieved in the last six months, both in terms of new distribution channels and sales, which gives the board confidence that this is an ideal time for us to be taking Voyager to the stock market.
“We want Voyager to become the pre-eminent trusted CBD brand in the UK. We display laboratory reports on our website so customers can see exactly what it is they are buying. Furthermore, we include detailed information on all of our labels, in compliance with UK standards. With an experienced team and a product line created in preparation for the UK’s new regulatory regime, we are well-placed to grow in tandem with the increasingly popular CBD health and wellness trend.”
On 7 June 2021, the Company re-registered as a PLC as part of its final preparations to list on AQSE. Jill Overland and Nikki Cooper have joined Voyager as non-executive directors, bringing significant experience to the board chaired by Eric Boyle.
Voyager raised investment from 295 crowd funding investors via Seedrs earlier in 2021 and has worked with Seedrs to allow those investors to participate in Voyager’s IPO.
Nick Tulloch said: “IPOs have often excluded retail investors, but it was important to Voyager to recognise the support of the Seedrs investors and to find a way for them to participate. The Seedrs platform provides a solution to make this possible.”
Kirsty Grant, Seedrs’ Chief Investment Officer, said: “Seedrs is the only crowdfunding platform in the UK to have allowed retail investors access to IPOs and public company fundraises and we’re delighted to be working again with Voyager to invite both the Company’s existing investors and their followers into the IPO.” www.voyagerlife.uk