Scotland-based CBD company Voyager has formally applied for admission to the Aquis Stock Exchange.
The move to join the London market confirms the fast rise of a company founded in November 2020 and already sitting on £1.5m worth of investment.
The company will trader under the ticker VOY on the stock exchange, a challenger body favoured by smaller firms for an alternative financing route to the London Stock Exchange.
Voyager is trading through 20 independent retail stores and chains, online platforms like Amazon, its own website – and has plans to open a shop in St Andrews next month.
Nick Tulloch, founder and chief executive of Voyager, said: “We are adopting a strictly professional approach to establishing the company and developing our business.
“CBD is a fast-growing industry so it should be no surprise that it will attract increasing attention from regulators.
“Mainstream retailers will, rightly, only deal with fully compliant businesses, so the strict governance framework we have established as part of the fabric of Voyager is a key element of our approach.
“We are realistic and do not expect overnight success, but I am encouraged by the pace of growth we have achieved in the last six months, both in terms of new distribution channels and sales, which gives the board confidence that this is an ideal time for us to be taking Voyager to the stock market.”
In February 2021, Voyager raised £874,000 through a crowdfunding campaign on Seedrs, and in April 2021 raised a further £741,000 through a private fundraise, including a commitment of £100,000 from Greencare Capital plc, the Aquis-listed investment company focused on medicinal cannabis and related areas.
The company re-registered as a PLC in June as part of its final preparations to list on AQSE.
Jill Overland and Nikki Cooper have joined Voyager as non-executive directors, bringing ‘significant experience’ to the board chaired by Eric Boyle.
Tulloch continued: “We want Voyager to become the pre-eminent trusted CBD brand in the UK.
“We display laboratory reports on our website so customers can see exactly what it is they are buying.
“Furthermore, we include detailed information on all of our labels, in compliance with UK standards.
“With an experienced team and a product line created in preparation for the UK’s new regulatory regime, we are well-placed to grow in tandem with the increasingly popular CBD health and wellness trend.”