Dow Jones Africa Titans 50 Index

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DJAFK

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07:15pm	Coca-Cola Revives Plan to Take African Bottling Unit Public	MT
05:53pm	US, UK call on Burkina Faso to investigate civilian killings	RE

Apollon Formularies signs license agreement with PureCann

July 24, 2023 at 04:10 pm EDT

Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Signs exclusive license agreement with PureCann Pty Ltd, a South Africa-based medical cannabis company. PureCann "will produce, and actively distribute the entire Apollon product range throughout their dispensary network currently being rolled out in South Africa," Apollon says. Apollon will receive a once off licensing fee of GBP100,000 and an ongoing royalty of 6% of gross profit on sales by PureCann for the entire term of the licence. PureCann will roll out treatment facilities in the fourth quarter of this year. Shan Holmes, chief biomedical scientist of PureCann, says: "I believe the cannabis sector is starting to experience a 'second wave' of interest, both from a medical and commercial perspective and South Africa is well placed to position itself to be at the centre of this new dawn."

Current stock price: 0.05 pence

12-month change: down 97%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DOW JONES SOUTH AFRICA(ZAR)	1,993 PTS	+1.62%	+3.77%	-
DOW JONES AFRICA TITANS 50 INDEX	467.8 PTS	+1.26%	+4.02%	-
S&P AFRICA 40 INDEX	159.3 PTS	+1.11%	+5.15%	-

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