IGEA Pharma N: to increase sales when entering the growing cannabis market
Hoofddorp, the Netherlands, 2nd August 2021. IGEA Pharma NV (SIX: IGPH) today announced sales expectations of CHF 264 million worldwide for the next three years, with an expected EBITDA margin of over 50% and an expected net income of CHF 126 million from the joint venture that the group operates in the cannabis Will operate the Oil Market (CBD) area following the merger with Blue Sky Natural Resources Ltd (‘BSNR‘). The expected income stream from the joint venture of CHF 63 million together with the additional EUR 4.5 million income from other segments will enable IGEA Pharma to be liquid as early as the end of 2022.
After declaring BSNR’s share offering to be unconditionally accepted, the board of directors approved the company’s new financial guidelines for the period 2021-2023, including BSNR’s combined business, which is expected to close by August 2021. Industrial supercritical CO2 extraction of CBD and other valuable components from their herbal matrices for health prevention, pharma, food and beverage and other selected industries is expected to begin in May 2022 and reach full capacity by the end of the year.
With the convertible bond secured by NegmaGroup, which will increase to up to 10.0 million after the final merger of the two businesses.
Vincenzo Moccia, CEO of IGEA Pharma, commented: ‘We are aware of the enormous business opportunities and are very excited to start the business combination to become a leading company in Europe for the cannabis CBD market. We have worked hard over the past few months on the joint venture strategy to develop a sustainable three year business plan and we trust that our team skills combined with our operational technology will enable our company to achieve the expected results. ‘
IGEA Pharma NV focuses on preventive health technology products and devices. IGEA markets an Alzheimer’s prevention kit (which includes “Alz1”, a laboratory test kit for the home to measure unbound copper in the blood, and a natural food supplement branded “Alz1 Tab” to reduce heavy metal levels in the blood) and expects to integrate the Detection of unbound copper-based pipeline with a type II diabetes prevention kit in 2021. Unbound copper is an expected biomarker associated with Alzheimer’s and type II diabetes. Controlling unbound copper may help reduce the risk of Alzheimer’s and diabetes Type II reduce. IGEA also markets a COVID19 rapid test for the detection of IgM and IgG SARSCoV-2 antibodies.
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
Giovanna Puppo della Gherardesca, Chair, email@example.com
Vincenzo Moccia, CEO, +39 340 583 09 33, firstname.lastname@example.org
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This document constitutes neither an offer to buy nor an offer to subscribe for securities and neither this document nor any part thereof should form the basis of an investment decision in IGEA. The information contained in this press release has been carefully prepared. However, IGEA assumes no liability for the correctness and completeness of the information provided here. IGEA assumes no obligation to update or correct the information contained in this press release, be it due to new information, future events or for other reasons. This publication may contain certain forward-looking statements and estimates or intentions with respect to the IGEA and its business. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, financial situation, development or performance of IGEA to differ materially from those expressly or implicitly assumed in these statements. Given these uncertainties, readers are cautioned not to place undue reliance on forward-looking statements. IGEA assumes no responsibility for updating future-oriented statements or adapting them to future events or developments, unless this is required by law.