UK-based Equinox International Holdings has announced its intention to seek admission of its entire share capital to trading on the AIM market of the London Stock Exchange.
Equinox 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 at IPO. The company has said it aims to become the UK’s leading ‘Land-to-Brand’ vertically integrated medical cannabis company.
The company has also stated that its 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. Currently, 100 per cent of the UK’s medical cannabis is imported.
Co-founder and CEO, Xan Morgan, commented: “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.”
Equinox is currently one of the few businesses to have received a Schedule 1 Controlled Drugs Licence from the Home Office for medical cannabis cultivation, production, possession, supply and research at scale on its 20-acre site.