Vape CEO Avihu Tamir sees London as Europe´s cannabis capital
The first public UK cannabis company believes Europe´s cannabis companies will settle in the UK.

According to the head of the first London cannabis company to go public, the UK market could become the hub for the cannabis industry in Europe. "There is no doubt that this is a huge industry, there is no doubt that it will bring a lot of jobs and taxes," Avihu Tamir, managing director of Kanabo, told Yahoo Finance UK. "The question now is, does the UK have the ability to lead the way in Europe? I think the answer is simple here too. There is no medical cannabis guide in Europe. The potential is huge." "All the growth is ahead of us," he said. On Tuesday, Kanabo will go public on the London Stock Exchange through a reverse takeover. Kanabo will be the first London cannabis company to go public. It was in 2020 when the UK's Financial Conduct Authority (FCA) said medical marijuana companies could be listed in the UK. The drug was legalized in 2018. "I remember some of the big banks thought I was out of space with the idea of registering a cannabis company in London," he said, referring to the company's first meetings with London investors in early 2019. "It is not Canada here, they told me. " Since then the mood has changed. "The roadshow was amazing," he said at a meeting with investors earlier this year. "We wanted to raise £ 3 or 4 million because we have over £ 1 million in the box. We had a demand of almost £ 12 million - an oversubscription of 300%. We ended up taking £ 6 million and still taking it all reduced by 50%. "I didn't think that a change in the FCA would be so dramatic in the eyes of decision-makers, not just investors. Banks, large institutions, strategic partners - they are actively approaching us because they prefer to use a cannabis - To work a company that is transparent and listed on the stock exchange. " Israel-based Kanabo was founded in 2017 and the company's CBD products are already available in Germany. They will be launched in the UK soon.





