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Gauteng cannabis producer to become first to list on JSE, 'in 4-6 months'
Cilo Cybin Pharmaceutical is set to become the first producer of cannabis and cannabis products in South Africa to list on the Johannesburg Stock Exchange (JSE).
Founder and CEO Gabriel Theron says the company has been inundated with requests for information from both the media and investors since Bloomberg News broke the story in August.
It got to the point where we had to create a page on our website for investors... as things roll out we'll keep them more up to date.
Gabriel Theron, Founder and CEO - Cilo Cybin Pharmaceutical
We started with the University of Technology - they are our partner in the sense of creating our formulations and our product development specifically for cannabis products so that we're not just another CBD brand or a THC brand on the market.
Gabriel Theron, Founder and CEO - Cilo Cybin Pharmaceutical
We're in the final stages of our validation runs and then on the first of November we're going into production. We pushed to have some products on the shelves on the first of December, your non-Schedule products... The Schedule products will be available, but only with a doctor's prescription.... to get it into patients' hands will be a bit of a longer process.
Gabriel Theron, Founder and CEO - Cilo Cybin Pharmaceutical
Theron says the process to get the medical product to patients does exist, but it is a time-consuming one.
The company had a discussion with the regulator recently about how to speed this up.
It is available but it's not readily available.
Gabriel Theron, Founder and CEO - Cilo Cybin Pharmaceutical
If he had a choice he'd list Cilo Cybin next month, but legal advisers have suggested it will take another 4-6 months Theron says.
It's a much bigger play than that [the JSE]. The JSE listing is our first step... to raise the funds in order to acquire all the assets that we need... It's not just South African assets and it's not assets just in the cannabis space...
Gabriel Theron, Founder and CEO - Cilo Cybin Pharmaceutical
Listen to the interview with Theron on The Money Show:
This article first appeared on CapeTalk : Gauteng cannabis producer to become first to list on JSE, 'in 4-6 months'
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