LONDON, UK: Equinox International Holdings plc, a UK-headquartered medical cannabis company, announced its intention to seek admission of its entire share capital to trading on the AIM market of the London Stock Exchange.
At Initial Public Offering (IPO) the Company is seeking to raise funds to build a state-of-the-art cultivation, extraction and production facility on a Home Office-approved 20-acre UK site.
Equinox’s goal is to provide consistent, British-grown high-quality medical cannabis and medical cannabis products for improved medical care that have the potential to transform the lives of patients with a focus on the UK.
Xan Morgan, Cofounder and CEO of Equinox said: “The UK medical cannabis market is forecast to be one of the largest in Europe and Equinox has a significant first-mover advantage to build a British champion and transform patients’ lives. Our wholesale distribution strategy and land-to-brand focus will enable us to become a leading, vertically integrated medical cannabis company providing consistent, high-quality products.
“We have one of the first commercially scaled medical cannabis cultivation and production licences issued by the UK Home Office. With our leadership team’s experience in project delivery, operational management, strategic governance and business development, we’re well positioned to maximise this exciting opportunity.
“Through proprietary cultivation, the creation of IP-protected formulations targeting NHS medical sales and strategic supply partnerships, we have the potential to target a significant share of the projected £7.5bn market in the UK by 2028.”
Rationale for listing:
- Capitalising on the Company’s first first-mover advantage in the UK market
- Access to growth capital to develop facilities, IP and invest in future expansion through R&D and operational advancements
- Enhanced profile and visibility in the UK and across international cannabis markets
- Best practice corporate governance and business structure supporting access to licensed medical markets
- finnCap is acting as global co-ordinator and joint bookrunner alongside States Bridge Capital
- Roth Capital Partners LLC (“Roth”) are acting as exclusive North American placement agent
- £10m of the fundraising qualifies for EIS and VCT related tax relief
- Retail offering to be launched via PrimaryBid
Equinox was founded in 2018 by Xan Morgan (CEO) and Neil Mahapatra (NED, through UK multifamily office, Kingsley Capital Partners). Both have been working together on developing Equinox since 2016 and have been active in the cannabis market for a number of years.
Xan and Neil established Equinox having witnessed the progression of medical cannabis legislation across the US and Canada and predicting that the same trends would occur in the UK and Europe.
The goal of Equinox is to cultivate and supply high quality EU-GMP approved medical cannabis and medical cannabis-based products that have the potential to transform the lives of patients.
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