Brit firm Cannaray gets £7.8m cash boost

British Medical Cannabis and CBD company Cannaray has secured £7.8million in funding as part of its “aggressive plans to dominate the European industry”.

Cannaray has also announced its acquisition of Therismos
Limited, a UK company with the licences to import, handle, and distribute
controlled drugs in the UK as well as across the EU, Norway, Switzerland, and

CEO Scott Maguire said: “The founders are thankful for the level of interest investors have demonstrated in our oversubscribed raise.

“We are also humbled to have such outstanding practitioners
in global finance, law, research and medicine join our team.

“We look forward to working with our management team, board of directors and scientific advisory board to make Cannaray not only the leading European cannabis player but eventually one of the global leaders in research and development of improved cannabis therapies to make a positive impact on global human health.”

cannabis deficiencies
Cannaray has also announced its acquisition of Therismos Limited

The business also announced it is preparing for Brexit and
has already set up a subsidiary in the Republic of Ireland.

A press release states that Cannaray is the only UK-based
medical cannabis and CBD business with a Scientific Advisory Board comprised of
specialists covering the four approved indications for medical cannabis use in
the UK (chemotherapy-induced nausea and vomiting, epilepsy, multiple sclerosis,
and chronic pain).

According to Grand View Research, the global medical cannabis market is set to grow to over £60 billion by 2026.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

Minnesota polls give green light to legalise marijuana

Next Article

High Lands! Half of Scots support legalising cannabis

Related Posts