ANA Ana Hldgs

27 April 2022

ANANDA DEVELOPMENTS PLC

(“Ananda” or the “Company”)

Recruitment at DJT Plants Limited

Ananda’s ambition is to be a leading UK grower and provider of high quality, consistent, carbon zero medical cannabis for the UK and international markets.

The Directors of Ananda provide the following update to shareholders.

New appointments at DJT Plants Limited (“DJT Plants”)

Ananda is pleased to announce additions to the team within its operating subsidiary, DJT Plants. Since planting of the first seeds in February, operations at site have become more complex and, under the guidance of Stuart Piccaver, the team has been expanded to include:

• Mark Spurdens MBA, BSc, CMgr, FIFST – COO; Mark was previously Operations Director of two large UK horticultural businesses supplying the main supermarket chains. He brings this experience to build DJT Plant’s medical cannabis business. He has a strong track record in building cohesive and effective teams and in developing high care production facilities within complex supply chains.

• Steve Murray BSc, BASIS – Head of Cultivation; Steve was previously managing 1.4Ha of medical cannabis growing in the UK for a cultivator under contract to GW Pharmaceuticals. He has set up and run large scale farming and intensive pharmaceutical grade production systems. His practical experience will be invaluable as DJT Plants moves towards commercial growing, subject to appropriate Home Office licencing.

• Dr. Nigel Gale – Head of Plant Science; Nigel has extensive experience in Good Agricultural and Collection Practice (GACP) and EU-GMP with a proven track record in developing genetics and successfully cultivating for EU markets, including developing top-selling genetic cultivars for both the medical and recreational cannabis markets in Canada. Nigel has moved to the UK from Canada, where he was Head/Director of Cultivation for several Canadian Licensed Producers. During his time in Canada, Nigel regularly managed the cultivation of up to 100,000 cannabis plants. Nigel is also an Associate Editor of Frontiers in Soil Sciences and the International Journal of Plant Biology.

Mark, Steve and Nigel have already commenced work on site and have begun to fine tune both the nutrition and watering regimes for the plants.  Each strain has its own needs, and these are now being identified and accounted for. The team is assessing the plants for genetic traits, which can be done visually by an experienced eye by analysing the size and shape of the leaves on each plant.

Preparations are now being made for the movement of plants from the research facility to the multi-chapelles, the structures where DJT Plants will be cultivating in trial commercial conditions.  The team is also engaging with DJT Plants’ consultants on the commercial storage and manufacturing facility plans.

Melissa Sturgess, Chief Executive Officer of Ananda commented; “A warm welcome from all of us at Ananda and DJT to Mark, Steve and Nigel.  Building a best-in-class multidisciplinary team will be the foundation of our commercial success and we particularly look forward to being able to draw on their vast combined experience where it will matter; excellence in plant science, excellence in practical execution and excellence in managing a complex business with, as I like to say, lots of moving parts.  A good strategy is of little use without first class practical execution.”

Corporate

There remains one outstanding item to complete the Circular to shareholders for the purchase of the 50% of DJT Plants not already owned by Ananda.  Once final sign off is obtained, the Circular will be posted to shareholders and the General Meeting called.

-Ends-

The Directors of the Company accept responsibility for the contents of this announcement.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

About Ananda Developments

Ananda is an AQSE-listed medical cannabis company creating UK-based operations to grow and provide carbon zero, consistent, medical cannabis for the UK and international markets. 

The UK medical cannabis market is predicted to be worth £450m by 2025 and the European market is predicted to be worth USD4.2bn by 2027.

For more information, please visit: https://anandadevelopments.com/