30 January 2024
Voyager Life
plc
("Voyager" or the "Company")
Acquisition of Amphora
Health
Voyager, the health and wellness
group formulating, manufacturing and supplying high-quality
Cannabidiol (CBD), hemp seed oil and hemp-related products,
is pleased to announce that it has acquired
Amphora Health Ltd ("Amphora"), owner of
the Amphora and Infused Amphora brands
which comprise a range of CBD oils,
vapour products
and accessories.
The consideration payable for
Amphora will be satisfied through the issue of 416,666 new ordinary shares of £0.01 each in
Voyager at a price of 12 pence per share
(approximately £50,000) in aggregate to Amphora's
shareholders. In addition, a further 416,666 new ordinary shares at a price
of 12 pence per share may be issued in the event, inter alia, that sales of Amphora or
Infused Amphora branded products exceed £100,000 over the 24 month
period from completion.
Completion of the acquisition is
expected to take place by 29 February 2024 at the time of the
transfer of shares in Amphora to Voyager. A further
announcement will be made in due course.
About Amphora
Infused Amphora is a British CBD
wellness brand founded in 2020 by Canadian
industry experts to support people in
reaching their wellness goals through the power of the hemp plant.
The entire collection of its premium products are all natural, THC
free and designed to help with a variety of everyday
conditions. The company has 23 ingestible CBD products
validated on the FSA's novel foods list.
Importantly, given forthcoming
changes in UK legislation, Amphora vapour products are not disposable but are currently sold in cartridges for
use with a rechargeable battery and management understands that the
formula can also be sold as an e-liquid for customers to refill
their preferred vapour
products themselves.
Amphora achieved sales in the year
to 31 July 2022 (its last accounts date) of approximately £69,000
and has current inventories in excess of £50,000 (at cost). Amphora owns several
online domains, including its retail website
www.infusedamphora.com,
as well as registered trademarks for
"Infused Amphora" in the UK, European Union, Republic of Korea and
China.
The operations of Amphora will be
moved to Voyager's existing premises and management are therefore
not expecting any increase in overheads at this time. No members of
the Amphora team will be employed by Voyager and none of the
premises or storage facilities occupied by Amphora are included in
the acquisition.
Nick Tulloch, Chief Executive
Officer and Founder of Voyager, said: "We
are delighted to be adding into the Voyager group the well
respected Amphora brands. A 4.7 (excellent) rating on
Trustpilot is testament to the quality of the products. This
acquisition achieves two objectives for us. Importantly, it
provides us with 23 products validated on the FSA's novel foods
list, thereby further opening up the UK market for our ingestible
CBD products. Just as significantly, it brings us into the
potentially lucrative vape market with four established
formulations.
"In both cases, we will aim to bring
manufacturing of Amphora products into our VoyagerCann
manufacturing facility, thereby lowering the cost of production and
enhancing margins.
"It is also important to note, as
has been the case with many of our operations, this acquisition has
been achieved at very low cost. Several of our competitors
have spent considerable sums on novel foods compliance and product
development. The opportunity to combine Amphora's business
with ours at a modest price is expected to be beneficial for all
shareholders."
This announcement
contains inside information for the purposes of the UK Market Abuse
Regulation and the Directors of the Company are responsible for the
release of this announcement.
ENDS
Enquiries:
Voyager Life plc
Nick Tulloch, CEO
|
Tel: +44 (0) 1738 317 693
http://voyagerlife.uk
nick@voyagerlife.uk
|
Cairn Financial Advisers LLP (AQSE Corporate
Adviser)
Ludovico Lazzaretti/Liam
Murray
|
Tel: +44 (0) 20 7213 0880
|
Stanford Capital Partners LLP (Broker)
Patrick Claridge
Bob Pountney
|
+44
(0) 203 3650 3650
+44
(0) 203 3650 3651
|
Notes to Editors:
About Voyager
Voyager was founded in 2020 and is
based in Perth, Scotland. The Company's primary objective is
the formulation, manufacture and supply of high quality CBD and
hemp seed oil products although it also produces several other
complementary products, the majority of which are manufactured from
the hemp plant. Its product categories include a pet range
which has rapidly developed into one of the Company's best
sellers. The Company sells online, through third party
stores and in its own stores which are located in St Andrews,
Edinburgh and Dundee. The Company has three principal retail
brands: Voyager, focused on health & wellness and petcare;
Ascend Skincare, its beauty range; and Amphora, with 23 products
validated on the FSA's novel foods list and a range of vapes.
Voyager products are currently available from Cornwall to Shetland
in online and brick-and-mortar outlets.
The Company's philosophy of
plant-based health and wellness is embodied in its mission
statement and hashtag of "Choose you". With an experienced team and
a product line created in line with the UK's regulatory regime,
Voyager aims to become the trusted brand in this increasingly
popular health and wellness space.
Through Voyager's bespoke
skincare product creation and development
division, voyagerCann, the Company also offers a
full turnkey service to other CBD, skincare and cosmetics brands
assisting them in developing and launching new products with a
manufacturing and distribution facility in Scotland.
Website and social media links:
Voyager:
https://voyagercbd.com/
https://www.instagram.com/voyagercbd/
https://twitter.com/voyagercbd
https://www.linkedin.com/company/voyager-cbd/
https://www.facebook.com/voyagercbd/
voyagerCann:
https://voyagercann.com/
https://www.instagram.com/voyagercann/
https://twitter.com/voyagercann/
https://www.linkedin.com/company/voyagercann/
https://www.facebook.com/voyagercann/
Amphora:
https://www.infusedamphora.com/