Oxford Cannabinoid Tech.Holdings Corporate Adviser Change (0992U)

TIDMOCTP

RNS Number : 0992U

Oxford Cannabinoid Tech.Holdings

30 November 2021

Oxford Cannabinoid Technologies Holdings plc

Corporate Adviser Change

Oxford Cannabinoid Technologies Holdings plc ("OCTP" or the "Company") announces that it is has mutually agreed to end its agreement with corporate adviser States Bridge Capital Limited ("SBCL"), effective today.

The Board would like to thank SBCL for helping the Company to raise GBP16.5m on its admission to the Official List (by way of a Standard Listing) and to trading on Main Market of the London Stock Exchange Group plc ("Admission"). The Board would also like to take this opportunity to thank the team at SBCL for their advice and guidance since the Admission.

The Company is in the process of appointing a corporate broker and hopes to make an announcement on that appointment in the near future.

SBCL Director, Damion Carruel, said: "We were delighted to work with OCTP by introducing investors to help raise the capital it needs to advance its drug development programmes, bringing new hope to patients suffering with chronic pain. We wish the team and the Company the best of success in the future."

The Company's CEO Dr John Lucas said: "We're hugely grateful to the whole team at SBCL for all of their efforts on our behalf. We are proud to have raised such a significant sum from investors who share our mission - to improve patients' lives with cannabinoids. When you're raising money having advisers that understand the objective is crucial and SBCL really delivered. We wish them every success."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

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

Enquiries:

 
 Oxford Cannabinoid Technologies    +44 (0)20 3034 2820 
  Holdings plc                       john@oxcantech.com 
  Dr John Lucas (CEO)                clarissa@oxcantech.com 
  Clarissa Sowemimo-Coker (COO) 
 Cairn Financial Advisers LLP 
  Emily Staples                     +44 (0)20 7213 0897 
  Jo Turner                          +44 (0) 20 7213 0885 
 Walbrook PR Limited                +44 (0)20 7933 8780 
  Paul Vann                          +44 (0)7768 807631 
  Nicholas Johnson                   oxcantech@walbrookpr.com 
 Harbor Access LLC                   Richard.Leighton@HarborAccessllc.com 
  Richard Leighton                    +1 (475) 455 9403 
  Jonathan Paterson

About Oxford Cannabinoid Technologies Holdings Plc :

Oxford Cannabinoid Technologies Holdings plc ("OCTP") is the holding company of Oxford Cannabinoid Technologies Ltd ("OCT"), a pharmaceutical company developing prescription cannabinoid medicines for approval by key medicines regulatory agencies worldwide and targeting the U$ multi-billion pain market (together the "Group"). Cannabinoids are compounds found in the cannabis plant that have been shown to have a range of therapeutic effects on the body, including pain relief. The Group has a clearly defined path to commercialisation, revenues and growth.

The Group is developing drug candidates through clinical trials to gain regulatory approval (FDA/MHRA/EMA) that will enable medical professionals to prescribe them with confidence.

The Group's portfolio aims to balance risk, value and time to market, whilst ensuring market exclusivity around all its key activities. The Group's lead compound, OCT461201, is a highly potent and selective CB2 agonist and is being developed by OCT in a solid oral dosage form. OCT is conducting pre-clinical testing and development with pre-clinical trials scheduled for 2022. The Group's product pipeline also uses a balanced drug product strategy that employs phytocannabinoids, cannabinoid derivatives and other novel compounds for the treatment of pain.

OCTP operates a partnership model with external academic and commercial partners, including the University of Oxford.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi ed by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

APPFDSFMSEFSEIF

(END) Dow Jones Newswires

November 30, 2021 11:59 ET (16:59 GMT)

Oxford Cannabinoid Techn... (LSE:OCTP)
Historical Stock Chart
From Mar 2024 to Apr 2024