Open Site Navigation
SA Landraces with Cannabis Plants. and species-min.png

CANNABIS INDUSTRY 

BREAKING  NEWS

Labat on the Hunt for More Cash; Seeks to Raise 18 m Euros from Select Investors

Labat on the Hunt for More Cash; Seeks to Raise 18 m Euros from Select Investors

Brett Hilton Barber

17 May 2022, 22:00:00

JSE-listed company says it needs more money to stay ahead of the game

Labat Africa is on the search for more cash. Barely six months after it raised a US30 m drawdown facility from Californian Investors, the JSE-listed company says it needs more money to stay ahead of the game.


CEO Brian van Rooyen said in a SENS statement issued on 5 May 2022 that “the capital raise comes off a spate of activity by Labat Africa as it continues to expand its influence across the value chains in the cannabis and hemp industries. “We look to be involved in almost every part of the cannabis value chain, from genetics to retail/dispensary.”


The company is preparing a roadshow to target select European investors and says the “placement proceeds will have a dual purpose of being used to accelerate the implementation and expansion of the Labat Healthcare projects and will also create the much needed liquidity of the Labat Africa share in the International Equity markets”.


Labat is also preparing a circular to shareholders is being prepared to approve a “specific authority to issue shares for cash as well as the issue of 30 million warrants to GR Global Ventures LLC (the Californian investors) at a price of R0.50 per share. A further announcement will be made in due course”.


The company detailed in the SENS release its “cannabis journey thus far” since 2019 when it announced that it was aiming for first mover advantage in the emerging cannabis economy when it acquired The Highly Creative (Pty) Ltd (THC).


• 70% acquisition of CBD Retail Brand CannAfrica (Pty) Limited, with outlets being opened
nationally, to add to its Johannesburg and Hartebeespoort presence;
• 100% acquisition of USA Miami-based CBD lifestyle brand Echo Life (Pty) Limited;
• 100% acquisition of African Cannabis Enterprises ((Pty) Limited (“ACE”), a cannabis genetics, seed, breeding and consultancy company;
• Obtaining the rights to distribute American pre-rolled hemp smokable brand, Ace & Axle, for the African continent for 10 years;
• 70% acquisition of Bio-Data (Pty) Limited, a Cannabis and medical research company;
• 80% acquisition of Sweetwaters Aquaponics, a fully SAHPRA licenced cultivation facility,
exporting to the global pharmaceutical market;
• Establishing the ACE Genetics Nursery for the African Cannabis Genome & Landrace Project
• Listing on the Frankfurt Stock Exchange in December 2021; and
• Establishing international joint venture partnerships for the purposes of large scale Industrial Hemp Processing with a secure off-take framework for raw materials

Canna Yezza and Cannabis Expos Squeezed for Juice

01

Juicy Fields Fall Out ZA

Canna Yezza and Cannabis Expos Squeezed for Juice

View
Hemporium’s Duncan Parker says the hemp skyscraper is an environmental breakthrough as the South African hemp industry starts coming of age

01

Cape Town Hemp Building is Highest in the World

Hemporium’s Duncan Parker says the hemp skyscraper is an environmental breakthrough as the South African hemp industry starts coming of age

View
CannAfrica introducing CannAfrica ‘Kiosk Model’ in 5 Shopping Malls

01


Sweetwaters the Core of Labat’s New Strategy as Group Unveils Plans to Set Up Commercial Seedbank, Expand Retail and Invest in Rolling Papers and Beverages

CannAfrica introducing CannAfrica ‘Kiosk Model’ in 5 Shopping Malls

View
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