IGEA Pharma N.V. / Key word(s): Miscellaneous
02-Aug-2021 / 00:47 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
IGEA PHARMA TO BOOST REVENUES ENTERING THE GROWING CANNABIS MARKET
Hoofddorp, the Netherlands, 2 August 2021. IGEA Pharma N.V. (SIX: IGPH) today announced revenue expectations over the next three years of CHF264 million globally, with an expected EBITDA margin in excess of 50% and expected net results of CHF126 million of the joint venture the Group will operate in the cannabis oil (CBD) market following the combination with Blue Sky Natural Resources Ltd (“BSNR“). The expected revenue stream from the joint venture of CHF63 million along with the additional EUR 4.5 million revenues from other segments will allow IGEA Pharma to be cash positive already by the end of 2022.
After the all-equity offer to BSNR being declared unconditional as to acceptances, the Board has approved the new financial guidelines of the Company for the period 2021-2023 including the combined business of BSNR to be finalized by August 2021. The industrial CO2 supercritical extraction of CBD and other valuable components from their vegetable matrices for health prevention, pharma, food&beverage and other selected industries is expected to start by May 2022 and to reach full capacity by end of the year.
With the convertible bond commitment secured with NegmaGroup, extendable up to EUR 10.0 million once the two businesses will definitively be combined, the Company will have granted the funds to operate the business as expected by the Group management.
Vincenzo Moccia, CEO of IGEA Pharma, commented “We are aware of the enormous business opportunity in front of us and we are very excited to launch the business combination to be a leading Company in Europe for the Cannabis CBD market. We have worked intensely in the last months on the joint venture strategy to develop a sustainable three years business plan and we trust that our team capabilities combined with our operational technology will allow our Company to reach the expected results”
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
End of ad hoc announcement
|Company:||IGEA Pharma N.V.|
|2123 WT Hoofddorp|
|Phone:||+31 23 568 9494|
|Listed:||Regulated Unofficial Market in Frankfurt; SIX Swiss Exchange|
|EQS News ID:||1223235|
|End of Announcement||EQS Group News Service|