Hellenic Dynamics could be at the forefront of Europe’s growing multi-billion-euro medical cannabis sector. The European cannabis market is expected to reach €37 billion by 2027, twice the size of the Canadian and North American markets combined.
Hellenic Dynamics (LON: HELD) launched its long-awaited Initial Public Offering on the Main Market of the London Stock Exchange on Monday 5 December, shortly after raising £1.125 million of new shares in an oversubscribed equity raise. It is the first medical cannabis company to achieve the main market listing.
Hellenic Dynamics operates from a 195,506 square-meter facility in northern Greece, which in full production is capable of producing over 54,000kg of dried medical cannabis flowers per annum. The facility benefits from low power costs as well as local, competitive skilled and semi-skilled labour rates.
For the next 12 months, the Company will continue to its core strategic objectives, which are to fulfil two term sheets for the offtake of THC-dominant medical cannabis products into Germany’s advanced medical cannabis market, secure further supply lines into the UK, increase total cultivation area in line with the European cannabis demand.
Davinder Rai, CEO of Hellenic Dynamics, commented: The listing marks an important milestone not just for Hellenic Dynamics, but for millions of patients across Europe who are looking to be prescribed THC-dominant medical cannabis.
Hellenic Dynamics is more committed than ever in its ambition to be the dominant supplier of high-quality and competitively priced dried medical cannabis flowers to patients across all 25 European counties that allow medical cannabis by prescription