top of page
SA Landraces with Cannabis Plants. and species-min.png

CANNABIS INDUSTRY 

BREAKING  NEWS

JSE Warns Labat to Submit Annual Financials Or Else!

JSE Warns Labat to Submit Annual Financials Or Else!

The JSE says Labat has until end-October 2022 to submit its latest annual report or its listing may be suspended.

Cannabiz Africa

6 October 2022 at 04:00:00

The JSE says it is advising shareholders that Labat has failed to submit its annual financial statements within the four month period stipulated in the Exchange’s listing requirements.


“Accordingly, the company’s listing on the JSE trading system has been annotated with a "RE" to indicate that it has failed to submit its annual report timeously and that the listing of the company’s securities is under threat of suspension and possible removal”.


Cannabiz Africa understands that Labat is struggling to consolidate its financials after nine months of intense corporate activity, during which time it has:


  • Listed on the Frankfurt Stock Exchange;

  • Raised a credit line of US$300 m from Californian investors;

  • Parted ways with its Northern Cape cannabis cultivator;

  • Purchased Sweetwater Aquaponics in the Eastern Cape;

  • Committed itself to upgrading Sweetwaters to be a cannabis genetics research centre, working with subsidiary Ace Genetics as well as the CSIR;

  • Backed South Africa’s first ethically-certified cannabis trials via subsidiary Biodata;

The JSE says Labat has another three weeks to sort this all out.


“If the above-mentioned company still fails to submit its annual report on or before 31 October 2022, then its listing may be suspended. This announcement has been placed by the JSE in the interest of the shareholders”.

#

The party says cannabis, like mineral resources, should be owned by the state and exploited for the benefit of the poor

EFF Calls for South African Cannabis Industry to be Nationalized

The party says cannabis, like mineral resources, should be owned by the state and exploited for the benefit of the poor

The President's Cannabis Consultant says the Plant will eventually be classified as an agricultural crop under DALRRD's regulation

Garth Strachan: Cannabis To Be an Agricultural Product That Could Contribute R6 B – R25 B to SA’s GDP.

The President's Cannabis Consultant says the Plant will eventually be classified as an agricultural crop under DALRRD's regulation

Only a handful of SAHPRA-accredited growers are actually exporting as the medicinal cannabis sector lags behind expectations

SA’s Medicinal Cannabis Sector in Trouble as ‘Grey’ Market Flourishes

Only a handful of SAHPRA-accredited growers are actually exporting as the medicinal cannabis sector lags behind expectations

5.cannabiz-africa Hemp -min.png

Cannabis in South Africa: The People’s Plant

We are a civil society organisation with the interests of the existing Cannabis industry and the Human Rights of ALL citizens at heart.

WE’RE BRINGING A NEW STANDARD

We are more than just a cannabis retail company. We are about a lifestyle that promotes vitality, balance & good health.

Resources & Equipment

Explore cannabis growing equipment for growing weed at home. 

Whether you’re just starting out, or you’re looking to enhance your outdoor or indoor weed grow setup – we have the perfect range of cannabis growing equipment to match your marijuana growing ambitions. 

Find everything from LED grow lights, grow tents, fans, and hydroponic setups, to environmental equipment and controls, harvesting accessories, extraction equipment and plenty more. 

Design your ideal cannabis growing setup with high quality growing equipment available in South Africa. 

Explore cannabis growing equipment we’ve curated from reliable online suppliers in South Africa

bottom of page