Cilo Cybin is the first company in South Africa that has licences to cultivate, process, package, label and sell medical cannabis products.
Gugs Mhlungu was in conversation with Cilo Cybin CEO, Gabriel Theron.
According to a recent article in the Sunday Times, Cilo Cybin is set to make its debut on the JSE’s Alternative Exchange before the end of September.
The article states that the company was meant to list last year, “but was unable to reach the minimum capital requirement for a listing as a special-purpose acquisition company.”
In February, Malaysian-based ALPS Global Holding Berhad (ALPS) bought 10% of Cilo Cybin and opened up a new export market for the business.
ALPS will also underwrite Cilo Cybin’s listing.
It’s R1 per share but we’re only going to open up between five and six million shares that will be available for the public to buy.
Gabriel Theron, CEO – Cilo Cybin
Cilo Cybin is the first company in South Africa that has licences to cultivate, process, package, label and sell medical cannabis products.
Theron says given the uncertainty around regulations in South Africa, it has decided to only export products and not manufacture for local consumption.
The company’s biggest export market currently is Australia, but they are hoping to expand to Europe.
Cannabis is being treated like an orphan child in South Africa currently. It’s almost like it’s the Wild West.
Gabriel Theron, CEO – Cilo Cybin
There are so many products on the market that you don’t know where they’re coming from, who is manufacturing them and are they allowed to manufacture them.
Gabriel Theron, CEO – Cilo Cybin
People must be very careful in terms of which brands they select and which brands they trust.
Gabriel Theron, CEO – Cilo Cybin
Listen to the full conversation.
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