Business Cann UK reports
ANANDA Developments has secured £300,000 to build out the first phase of its medicinal cannabis growing research facility in Lincolnshire.
In May last year the AQSE Growth Market-listed business unveiled £12m plans to create one of the UK’s largest medicinal cannabis farms – capable of growing 300,000 plants a year.
In a market update Ananda says the £300,000 fundraise will allow it to undertake work on the first phase of the development.
CEO Melissa Sturgess said “We are excited about this development in Ananda’s ambitions to provide high-quality, cost-effective, UK-grown medicinal cannabis to patients here and abroad.
“The UK medicinal cannabis market is growing at around 20% a month and has grown to around 3,000 patients in the last 12 months. These funds will allow us to build Phase One of our medicinal cannabis facility if we get a green light from the Home Office.”