Ananda was established to invest in the developing market for medicinal or therapeutic Cannabis derivatives, or related products, including but not limited to nutraceuticals, dietary supplements and cosmetic products which contain Cannabis or hemp derived cannabinoids.
At Admission, the Company’s strategy was focused specifically on companies, projects or products in Israel, Canada and the Netherlands.
The Company has identified what the Directors and the Company’s Senior Investment Adviser, Dr Eli David Schmell, PhD believe to be an attractive opportunity to invest in LHT, a UK incorporated company, which is expected to launch its Medicinal Cannabis product in Italy in the coming months.
The Board believes that the investment in LHT is a good opportunity for Ananda to gain exposure to the Medicinal Cannabis sector as it develops across Europe. The Company is therefore seeking the approval of Shareholders to amend its investment strategy to allow the Company to take advantage of opportunities in the Medicinal Cannabis sector in any jurisdiction which has well established laws in relation to medicinal cannabis and which is a party to the Single Convention on Narcotic Drugs 1961, as amended by the 1972 Protocol, the Convention on Psychotropic Substances, 1971, and the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, 1988 (together, the “UN Drug Conventions”).
The Directors believe that they, together with Dr Schmell, have sufficient experience and expertise to allow them to identify, appraise and execute attractive investment opportunities in line with the Amended Investment Strategy, which will have the potential to increase Shareholder value. The proposed Amended Investment Policy is set out in Appendix I of this Document.