Sativa appoints Henry Lees-Buckley CEO as business develops

Press Release
19th August 2019

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Sativa Group PLC
(“Sativa” or “the Company” or “the Group”)
Sativa appoints Henry Lees-Buckley CEO as business develops

Sativa Group Plc [NEX: SATI], the UK’s leading quoted CBD Wellness and medicinal cannabis Group, is pleased to announce it has appointed Henry Lees-Buckley as Chief Executive Officer and a Director of the Company with immediate effect.  Henry was previously CEO of Uni-Select [TSX:UNS], a Canadian TSX quoted company, with operations in the UK, Canada and the USA.  Prior to that he was a senior global executive and officer in the USA and Canada for W.W. Grainger, a US$15 billion Fortune 500 company.  Henry is currently a non-Executive Director of NASDAQ-quoted BMC (Building Materials Corp) [NASDAQ:BMCH] which has sales of US$3.8 billion and a market capitalisation of US$1.6 billion.

Henry, who holds dual United Kingdom and Canadian citizenship, has held numerous executive level positions both in North America and also the United Kingdom.  He holds an MBA from Queens University, Kingston, Ontario, has moved to the United Kingdom, and from now will operate from Sativa’s Somerset headquarters.

Sativa’s founder and current Chief Executive Officer Geremy Thomas will transition to the role of Deputy Chairman with immediate effect and will continue to deliver to the Group his significant knowledge and expertise in the medicinal cannabis industry.  Geremy said: “Henry’s appointment is a clear statement of the Board’s ambition for the Group.  Henry has the enthusiasm, expertise and experience to grow the business significantly.  “His experience of major capital market businesses, executive leadership and M&A will be of great use as the Company seeks to accelerate both organic and acquisitive growth and attract a broader investor base including institutions. Appropriate capital markets remain a focus for the Group.”

Newly appointed Henry Lees-Buckley said: “Sativa has made remarkable advances in its first 18 months as a quoted vehicle and I am looking forward to working with the team to build on this foundation and guide and grow the business moving forward.  The UK market is particularly exciting as it is adopting already globally proven interest in CBD wellness and medicinal cannabis products.  This provides a significant runway ahead for us and, as Sativa operates in a complex and heavily regulated industry, management strength and controls are key.”

The past and current directorships of Henry Lees-Buckley are:

Current

Previous

  • BMC Stock Holdings Inc
  • Uni-Select USA Inc
  • FinishMaster Inc
  • Uni-Select Inc
  • Uni-Select Canada Stores Inc
  • FinishMaster Inc
  • Uni-Select Quebec Inc
  • Uni-Select Pacific Inc
  • Acklands Grainger Inc
  • Canwel Building Materials Ltd
  • Buckley’s Office Service Centre Inc
  • Car Part World Limited
  • URO (South West) Limited
  • URO Auto Spares |Limited
  • 121333 Limited
  • 121222 Holdco Limited
  • Allparts Bidco Limited
  • BMS Superfactors Limited
  • CES Bidco Limited
  • Data Development Services Limited
  • DDS Midco Limited
  • German Swedish & French Car Parts Limited
  • GMF Bidco Limited
  • PA Group Holdings Limited
  • PA Topco Limited
  • Parts Alliance Group Limited
  • SCMF Bidco Limited
  • Superfactor (Holdings) Limited
  • The Parts Alliance Limited
  • Beckwith Ltd
  • S A S Autoparts Ltd
  • Waterloo (Motor Trade) Holdings Limited
  • Waterloo (Motor Trade) Limited
  • Blackburn Brakes Holdings Limited
  • BBC Superfactors Ltd

For further information please contact:

Henry Buckley
Chief Executive Officer
Sativa Group PLC
+44 (0) 20 7971 1255
[email protected]
www.sativagroup.co.uk

NEX Exchange Corporate Adviser
Corporate Finance
Stephen Keys / Max Gould Cenkos Securities plc
+44 (0) 20 7397 8900

Equity Sales
Julian Morse
Cenkos Securities +44 (0) 20 7397 8900

Financial PR and IR
Julian Bosdet
Abchurch Communications
+44 (0) 7771 663 886
[email protected]
www.abchurch-group.com

Joseph Colliver
Chief Financial Officer
Sativa Group PLC
+44 (0) 20 7971 1255
[email protected]
www.sativagroup.co.uk

Notes to Editors

Sativa is a seed to Consumer CBD Wellness and medicinal cannabis business, focused on the smart-sourcing of the raw material, advanced extraction, manufacture, testing, distribution, and research & development of medicinal cannabis and CBD products.  The Company has a Home Office licence application in process which, when granted as the Directors believe it will be as the application is in its final stages, will enable the Company to engage in the highly regulated process of growing, strictly for medicinal research & development purposes only, Tetrahydrocannabinol (THC) rich cannabis flowers at its high-security Somerset headquarters.

The Company joined the UK’s NEX market in March 2018 as the UK’s first medicinal cannabis investment vehicle and since then has capitalised on its first-mover advantage, developing a substantial UK bridgehead into what the Company believes will be a significant market in the future.  Two UK operating subsidiaries, PhytoVista Laboratories and George Botanicals, are already well established and fully trading with healthy gross margins in independent CBD testing and CBD wholesale & retail respectively.

Phytovista has conducted over 1000 independent tests and George Botanicals develops, manufactures and distributes low-THC CBD wellness products.  Other important future revenue streams are at various stages of development from concept to actual launch, with two Goodbody Wellness centres open in Bath and Bristol.

Prior to the Listing, Sativa’s founder and Deputy Chairman, Geremy Thomas, spent 12 months researching the global medical cannabis and CBD industries at his own personal expense.  He based himself in Canada, the most advanced country in terms of medicinal cannabis acceptance and regulation, travelling to America, Australia, the Far East, and Europe to connect with industry leaders and participants.  The Company on Listing was therefore already internationally connected, and this has given it a head start within the UK industry for smart-sourcing and the adoption of advanced value-add techniques and models.

In May 2019 the Company obtained permission from NEX Exchange to reclassify itself as a trading company, having delivered on its original investment strategy.  Benefits of this include widening the appeal of the equity opportunity to additional types of investors including institutions and family offices, many of which are precluded from investing in fund-type vehicles.

– Ends –

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