logo-loader
Iofina PLC

Iofina unveils investment in hemp production firm Organic Vines

The AIM-listed group has invested US$900,000 into Organic Vines to help fund the first grow cycle at its 240,000 square foot greenhouse facility in Denver, Colorado

Iofina PLC - Iofina unveils investment in hemp production firm Organic Vines
Products such as CBD can be derived from hemp

Iofina PLC (LON:IOF) has unveiled an investment in Organic Vines, a hemp seed production and genetics firm.

The AIM-listed group has invested US$900,000 into Organic Vines as part of a US$1.9mln fundraising effort to support the company’s first grow cycle at its 240,000 square foot greenhouse facility in Denver, Colorado, which is capable of producing over 50mln hemp seeds per cycle.

WATCH: Iofina on track for record year of production as construction of IO#8 advances

The investment, made through a non-voting equity preference share, will give Iofina the first call on returns made the grow cycle of up to three times the initial investment. The company is expecting to turn a profit of US$1.8mln by mid-2020.

While the investment is a “one-off opportunity” and will dissolve after returns are achieved, Iofina said it will investigate further ventures with Organic Vines to benefit its subsidiary, IofinaEX, which is focused on developing products derived from hemp, such as cannabidiol (CBD).

“We anticipate this strategic investment to be the first of many steps for IofinaEX to thrive in this rapidly growing hemp market”, said Iofina’s president and chief executive, Tom Becker.

Quick facts: Iofina PLC

Price: 28 GBX

Market: LSE
Market Cap: £53.72 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Iofina PLC named herein, including the promotion by the Company of Iofina PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Iofina PLC's Tom Becker updates on Organic Vines investment and IO#8...

Iofina PLC's (LON:IOF) Tom Becker speaks to Proactive London's Andrew Scott soon after announcing their investment in Organic Vines - a hemp seed production and genetics firm. Becker says they're anticipating to turn a profit of US$1.8mln by mid-2020. He also updates on the construction of...

4 days, 17 hours ago

RNS

Holding(s) in Company

2 days, 16 hours ago

Holding(s) in Company

2 days, 16 hours ago

Holding(s) in Company

4 days, 19 hours ago

IofinaEX Hemp Seed Investment

1 week, 4 days ago

Q3 2019 Update

on 14/10/19

Interim Results

on 23/9/19

2 min read