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Cilo Cybin listed on JSE Altx board

Cilo Cybin Holdings, a medical cannabis investment group, marked a major milestone by debuting on the JSE Altx board of directors as a special purpose acquisition vehicle. Originally scheduled to list in 2022, the company decided to release just 10 per cent of its total capital, offering more than 71 million ordinary shares at R1 each, valuing the group at R70 million. CEO and founder Gabriel Theron spoke about the company on CNBC Africa, shedding light on the company’s future plans and strategic partnerships. With 81% of the SPAC in the hands of a Malaysian sponsor, Cilo Cybin is preparing to list on the Nasdaq under the name Alps Global. Theron highlighted the support and mentorship provided by his funders and outlined the roadmap for the business moving forward. Theron emphasized the primary goal of merging the two companies under the Cilo Cybin umbrella and driving profitability. He revealed that the target entity had become a profitable company by the end of the previous year, showing a steady increase in profits month on month in the current financial year. Following the merger, pending shareholder approval, Cilo Cybin aims to become a debt-free, cash-rich entity, positioning itself as one of the few cannabis companies worldwide with such financial strength. The company’s expansion plans aim to make it one of the largest players in Africa’s cannabis market. The conversation delved into Cilo Cybin’s customer base, with Theron citing that its primary market is Australia, where the company exports its products. As Australia witnesses a steady rise in cannabis patients, Cilo Cybin identifies it as a lucrative market with ample growth opportunities. In addition to Australia, the company is targeting the European market, with plans to expand its supply chain to countries such as Italy and Germany in the near future. Theron also addressed the logistical challenges of exporting cannabis products, noting the long lead times required to obtain import and export permits. While he acknowledged the regulatory complexities surrounding cannabis commerce, especially internationally, he expressed confidence in overcoming these obstacles through experience and process optimization. Regarding the legal landscape in South Africa, Theron provided information on the ongoing decriminalization process and the subsequent need for a comprehensive regulatory framework for the cannabis trade. He highlighted the importance of government support in creating an enabling environment for legal cannabis entities and retail operations within the country. The discussion addressed Cilo Cybin’s strategic initiatives post-IPO, including potential acquisitions and product expansions. Theron revealed plans to venture into the psychedelic market, highlighting the company’s application for a psychedelic license and conversations with regulators about how to navigate this nascent industry. As Cilo Cybin prepares to explore new horizons beyond cannabis, the future looks bright for the group. In conclusion, Cilo Cybin’s listing on the JSE Altx board signifies a significant step in the company’s growth trajectory, positioning it as a key player in the changing medical cannabis investment landscape. With strategic partnerships, a focus on profitability, and a vision for expansion, Cilo Cybin is poised to make its mark in the cannabis and psychedelics markets, shaping the future of the industry.

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