RNS Number : 2320P
Cellular Goods PLC
08 February 2023
 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of the law of England and Wales. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

Press release

 

08 February 2023

 

Cellular Goods PLC

 

("Cellular Goods" or "the Company")

 

Termination of proposed acquisition

 

On 26 September 2022, Cellular Goods announced its proposed acquisition of Cannaray Brands Limited and Love CBD Health Limited from Cannaray Limited ("Cannaray") (the "Transaction"). The Company announces today that it has terminated negotiations in relation to the Transaction.

The Board concluded that, as a result of changes in the deal itself, it was not in the best interests of shareholders to proceed. 

In parallel with the Transaction, the Company has been proactively reviewing its product range, proposition, financials, strategy and opportunities. Its focus will continue to be to develop and expand the Company's business model and to position the Company for long term growth.

 

For further information please contact:

Cellular Goods


Darcy Taylor

Chairman and interim CEO

Neil Thapar

Investor Relations

via Tancredi +44 207 887 7633

 

+44 787 645 5323

Tennyson Securities


Corporate Broker & Adviser

Peter Krens

Alan Howard

 

+44 207 186 9030

Novum Securities

 

Corporate Broker

Colin Rowbury

Jon Belliss

 

 

+44 207 399 9427

Tancredi Intelligent Communication


Media Relations

Helen Humphrey

Charlie Hobbs

cellulargoods@tancredigroup.com

 

+44 744 922 6720

+44 789 755 7112

 

About Cellular Goods PLC:

Cellular Goods is a UK-based wellness company that provides premium products based on lab-made cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid-powered wellness products. The initial focus is on three product verticals: Feel Better, Look Better and Function Better. These three verticals encompass Cellular Goods' premium CBG skincare and CBD wellness with the first products launched in December 2021. The Company's shares are listed on the main market of the London Stock Exchange. www.cellular-goods.com.

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