Ananda Developments Plc - DJT Plants’ Cannabis Flower approved for Israel Import

6 September 2021

ANANDA DEVELOPMENTS PLC
(“Ananda” or the “Company”)

DJT Plants’ Cannabis Flower approved for import into Israel

Ananda, which is creating UK-based operations to grow and provide carbon neutral, consistent, high quality medical cannabis for the UK and international markets, announces that the Government of Israel has granted a licence for cannabis flower grown at Ananda’s subsidiary, DJT Plants Limited (“DJT Plants”) to be imported into Israel.  The licence is held by Cannasoul Analytics, the research company which will be analysing DJT Plants’ cannabis flower.

The purpose of obtaining an import licence at this early stage is to ensure that DJT Plants has a clear understanding of all requirements for moving cannabis flower, a controlled drug under the UK Government’s Misuse of Drugs Act 1971, from the UK into Israel. The import licence was awarded by Israel’s Department of Pharmaceutical Import and Narcotics at the Ministry of Health, and by the Ministry of Agriculture and Rural Development Plant Protection and Inspection Services.  Appropriate licences will be sought under the relevant UK legislation allowing the export of cannabis flower from the UK nearer to the time of export.

In April 2020, Ananda announced that it would be collaborating with Professor Dedi Meiri, the leading global medical cannabis researcher at The Technion in Israel, to carry out detailed molecular analysis of the strains of cannabis which Ananda proposes to grow and stabilise at DJT Plants.

As part of Ananda’s research plan to stabilise 65 strains of medical cannabis and conduct field trials, future cannabis plant material grown by DJT Plants will be sent to Cannasoul Analytics, an Israel-based commercial research company formed by Professor Dedi Meiri, for analysis of cannabinoid, terpene and flavonoid profiles.  It is the view of the Directors of Ananda that Israel continues to be at the forefront of global medical cannabis research and that Israel’s experts have the greatest depth of understanding of the cannabis plant at the molecular level. 

Ananda’s ultimate ambition is for DJT Plants to transition to commercial growing of medical cannabis.  The Board remains encouraged by progress.

Preparation of documentation continues for the acquisition of the 50% of DJT Group Limited not already owned by Ananda. This work includes the drafting of a range of supporting agreements. Further detail on the proposed acquisition is detailed in the Company’s announcement of 8 June, 2021.

Ananda’s CEO, Melissa Sturgess, commented: “We don’t underestimate the complexity of the work required to grow medical cannabis in the UK.  The prize, however, is big; both from a patient care and a financial perspective.  Delivering the best quality, consistent medical cannabis medicine to UK and international patients is our clear objective.  We continue to work in a focused and diligent manner towards achieving our goals.”

-Ends-

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

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.