Greencare Capital PLC (AQSE:GRE) said it plans to “actively seek additional investment and acquisition opportunities” in the medicinal cannabis and cannabidiol (CBD) sectors after taking stakes in two companies.
The update was provided alongside the company’s annual results for the 12 months ending October 31, 2021. It closed the period with net assets of £1.05m, including £878,000 in cash or equivalents.
He made two investments: he invested £100,000 in Clearly Supplements via a convertible loan note and the same amount in Voyager Life.
The latter is now listed on the AQSE Growth Market with Greencare holding a 2.8% stake.
Like companies in the formation phase of the investment cycle, the group posted a deficit over the period. Operating loss was £373,000.
Looking ahead, Managing Director Richard Tonthat said, “Greencare continues to actively pursue additional investment and acquisition opportunities of various sizes in the cannabis and CBD space, but is doing so with caution.
“He also anticipates that he will take a broader view in the medium term, or until the sector shows stability from what he has done to include investments related to health, well-being and to herbal medicine in accordance with its strategy.”