Labat Africa Ltd Advances Into Major Medical Cannabis
Johannesburg, April 28, 2020 AEST (ABN Newswire) - The South African group, Labat Africa Ltd (JSE:LAB) which announced last year it was entering the medical CANNABIS market, is gaining the interest of High net worth and institutional investors in London and New York.
Announcing the Johannesburg based company's ongoing plans to launch the Labat Health Division onto the global medical Cannabis market today Labat CEO, Brian van Rooyen, said he was pleased and very encouraged with the level of interest among investors particularly in the United States and the UK where he is progressing talks with institutional and high net worth investors.
In line with this, Mr van Rooyen said, he was conscious that Labat's advance into the global Medical Cannabis and CBD markets was an important part of the development of this new and emerging industry in South Africa and so, he was pleased to announce it was Labat's intention to place 150 million shares for cash with institutional and other investors to fund this much this much anticipated expansion of its healthcare business.
"We are exploring the many avenues opening up for Labat around the world. The Pandemic and Moodys downgrade may have had a devastating effect on South Africa's economy and is foremost on the minds of our investors. Not so for a number of investors and financial institutions in the US who have shown a keen interest in our Medical Cannabis and CBD business. Like us, they are thinking ahead and positioning to take advantage of the opportunities that will open up when our economies are reopened and there are encouraging signs this may happen soon."
Mr. van Rooyen said that Labat had been prompted to rethink it's positioning when economies are restarted and are already working with the best marketing consultants in New York and London. He said Labat had appointed New York based agency, Marston Webb International, who has a long and successful working relationship with South Africa to coordinate a series of live audio visual for him to make presentations to potential investors in New York, Washington and Maryland starting this week.
"We had to cancel earlier plans because of the virus but Labat continues to interact with these potential investors by electronic means. A number of engagements are under way with both the UK and US investors. These investors have shown a keen interest to continue with the presentations on a one-on-one basis. and the fact that Labat is a listed entity has given them a measure of comfort."
We look forward, now to arranging these very special calls which I am sure will be a major step forward for Labat Health and for Medical Cannabis and CBD production and sales in South Africa, Mr. van Rooyen said.
About Marston Webb International
Marston Webb International is a highly respected pioneer in the field of International Investor Relations and Public Relations. Throughout its three decades of operation, Marston Webb has represented the London Stock Exchange (AIM), Bahamas' Financial Secretariat, Toronto Stock Exchange, Madrid Stock Exchange, Prague Stock Exchange, Bermuda's Ministry of Finance as well as several UN Economic Missions. As the registered IR agency for various exchanges throughout the world, Marston Webb has built a substantial database of high net worth corporations and emerging companies (CEO's, CFO's, COO's and Chairman).
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