Africa’s first cannabis-focused blank check company should list this year, aiming to acquire companies in a young industry, next to genetics and wearable health-device businesses reported Bloomberg.
The founder of South Africa’s Cilo Cybin Pharmaceutical Ltd, Gabriel Theron, told Bloomberg his plans to sell shares in a special purpose acquisition company in Johannesburg this spring with the goal of raising at least 500 million rands ($32 million). After that, Theron will utilize the vehicle to acquire Cilo Cybin, estimating to be valued at 300 million rands.
