A U.K. company backed by former US Defence Secretary – which claims to be the first to offer cannabigerol (CBG) products – is aiming to raise $15 million for a market listing.
Equinox International says its offshoot medical cannabis firm Oxon will aim to be a ‘British champion of high-end products and brands’. In an interview with The Telegraph chief executive Xan Morgan, says it will be the first U.K. brand to offer CBG, in addition to its better-known offspring CBD.
He says the company is looking to raise the money for a public listing on the London or U.S. markets.
Backed By Madeleine Albright
Equinox is backed by Kingsley Capital Partners which itself is U.K. partner to Albright Capital Management; a Washington-based emerging markets firm chaired by former U.S. Secretary of State, Madeleine Albright. Oxon says its cannabis-infused products will include oils, gels and creams and have been developed in partnership with scientists at the University of Oxford and research lab Oxford Antibiotic Group.
The range is currently manufactured in Austria but the company’s goal is to move production to the U.K. CBG is reported to have health benefits but like CBD does not have psychoactive properties. Mr Morgan said: “There’s growing interest in the cannabis industry and a realization that there have been huge returns over the last two to three years.
Mr Nice Stores in Europe
The products will be sold via Oxon’s website but the firm is also in discussions to stock them in high street health food chains. Equinox’s other cannabis venture is a Mr Nice range of cannabis products, named after the high-profile, 1970’s drug advocate Howard Marks and licensed from his family. It has one High Street store in London and two in Austria.
Kingsley Capital Partners was founded by Neil Mahapatra, who is also Chairman of Oxford Cannabinoid Technologies; a firm which has attracted investment from Snoop Dog and has Star War’s actor Patrick Stewart on board.
Kingsley stumped up an initial investment of up to £10 million to launch OCT and it is undertaking a series of projects designed to identify new medical cannabis products by researching into the molecular systems and mechanisms of cannabinoids.