Africa’s first cannabis-focused blank-check company is set to list later this year with a view to buying companies in the fledgling industry alongside genetics and wearable health-device companies in the U.S. and South Africa. Bloomberg reports.
Gabriel Theron, the founder of South Africa’s Cilo Cybin Pharmaceutical Ltd., aims to sell shares in a SPAC in Johannesburg in May and raise a minimum of 500 million rand ($32 million). The entrepreneur will then use the vehicle to buy Cilo Cybin, which he values at as much as 300 million rand, followed by non-cannabis health companies in South Africa and the U.S. Read more.
