One of the leading lights of the European cannabis scene has successfully completed its demerger – as speculation mounts that a stock market flotation is imminent.
London and Dublin-based European Cannabis Holdings (ECH) has split into distinct media and medical cannabis divisions, each with a trio of well-known brands. In a company statement it said ECH Media & Data now consists of Prohibition Partners – authors of industry ‘bible’ the annual European Cannabis Report.
Cannabis Europa, the conference series which started in London and is now expanding across Europe and into North America with events planned for Toronto and New York later this year.
And, thirdly is European Cannabis Week; a business platform, that attracts hundreds of leading industry figures from across the world to London every June. This company will be headquartered in London with the tech and data team in Dublin and a consultancy and regulatory affairs team in Barcelona.
Meanwhile ECH Medical is a new holding company designed to help improve access to medical cannabis for patients across Europe through three distinct entities, say the company.
The Academy of Medical Cannabis is an online learning platform for healthcare professionals, currently with a presence in the U.K, Ireland, France, New Zealand and Brazil. The Medical Cannabis Clinics is an expanding chain of U.K. private clinics, which will also be rolled out across European later this year.
The third elements in ECH Medical is Astral Health which is in the process of securing import license for cannabis products ‘across multiple jurisdictions’, say the company.
ECH Medical features leading lights of the U.K. medical cannabis community including Prof Mike Barnes, as its Chairman, and Patient Advocate Specialist Hannah Deacon, who successfully campaigned to change the U.K.’s medical cannabis law for her young son Alfie Dingley and other children. The two new holding companies will officially launch over the coming weeks – each with an independent board and leaderships.
Group Chairman Jeremy Edelman said: “Our investment and incubation model has proved highly successful. We put this down to a genuine understanding of cannabis and emerging markets, clarity of vision, strong strategic execution and an exceptionally talented team. This industry is now maturing and opening up at pace, so it feels timely to announce a demerger that will ensure independence and integrity across two new propositions.”
Earlier this year there was speculation in the U.K. press that ECH would become one of the first cannabis companies into U.K to float on the London Stock Exchange.
For more stories like this one, subscribe to the CBD Business Weekly Newsletter.