The only British company licensed to grow, process, extract, bottle and distribute organic CBD.
|Location||St Helier, Jersey|
|Sectors||Healthcare Mixed Digital/Non-Digital Mixed B2B/B2C|
|Incorporation date||30 Apr 2019|
- Supply Chain from Seed to Bottle
- Organically Grown
- Offline & Online Distribution Channels in place
- Ready to Scale & IPO Team Engaged
Jersey Hemp is the first fully vertically integrated hemp farm in the British Isles to have received a licence to cultivate and produce British-grown CBD.
Working directly with local government and agricultural experts to implement best in class, organic farming practices, without the use of synthetic pesticides and herbicides.
Our product range is of the highest quality, fully compliant CBD oil and food supplements with plans to launch wholesale extracts and a cosmetics range in 2021.
Our Novel Foods dossier was submitted to the UK Food Standards Agency in Q1 2021.
We have established a joint venture with a UK listed international CBD group to register the first new Hemp cultivars in the UK/EU seed catalogue which could provide material commercial and licencing opportunities for higher-yielding Hemp seeds.
Substantial accomplishments to date
2017 - we received our trial licence from the government to cultivate hemp.
A 1-year trial licence was granted, and we successfully harvested the first crop of hemp in Jersey for 100 years
2018 - Land secured at Warwick Farm | 3-year industrial hemp licence granted
2019 - Extraction licence awarded and a £2m seed investment round completed
2020 - Significant expansion of flower production and huge investment in the facility to maximise cultivation capabilities
Joint venture with international CBD group to establish seeds breeding & certification program.
2021 so far - First new Hemp cultivars submitted for registration in the British catalogue
Engaged professional advisors to help list the Company.
Recruited our new CEO, an experienced business leader with a background in banking, industry and private equity, predominantly within FMCG channels
In negotiations to acquire a well-established distribution channel
Negotiating to acquire more of our joint venture partnership.
For anyone investing over £50, we will send you a 10ml 500mg bottle of our incredible CBD Oil.
We already have a website, a retail shop in Jersey and a sub-contracted distribution centre in the UK.
We also already have a sales agency in London who has already got us sales from Selfridges amongst other well-known brands.
We will use the proceeds of the investment to assemble an expert team of marketers in-house to help us grow awareness, prepare digital campaigns and secure brand ambassadors as well as attempt to acquire a proven distribution channel.
In partnership with a London listed plc, we have also submitted two new seed varieties to be registered, called Quennevais and Varou. We believe these new varieties will create huge opportunities to wholesale seeds to other growers which have a much higher CBD content.
Use of proceeds
Strong focus on sales growth across multiple channels including potential acquisitions of proven distribution channels
Sales & Marketing
- acquire proven distribution channel
- expert team assembled to expand reach and awareness across all channels
- grow brand ambassadors
- scale content further
Operating Costs and Capex
- purchase fencing and new machinery to grow more controlled substances
- continue to fund operating costs whilst revenues grow further
The company has a £260,000 convertible loan, with a 10% annual interest rate, that has accrued £8,405.38 to date, which will convert to equity after this round and dilute existing shareholders. Conversion will occur at the same pre-money valuation as this round, being £15,173,395.90, and shares issued will be A ordinary shares, which carry equivalent economic and voting rights to the B and C ordinary shares.
In consideration for the convertible loan, the lenders received a total of 33,699,997 additional shares, which have been factored into the pre-money valuation of this round.
The majority of the investors (who will be defined under the shareholders agreement and comprise non-management shareholders) in the Company are able to appoint two non-executive directors, referred to as “Investor Directors”.
In any of the following events occur, and either of the Investor Directors consider the consequences are likely to be to the material detriment of the Company, or the interest of Investors as shareholders of and lenders to, the Company, either Investor Director will count as quorum at any meeting of Directors until the event has been rectified:
(a)Any one or a combination of Directors (excluding Investor Directors), Founders or the Company are in material breach of any of their obligations in the shareholders’ agreement; or
(b) The Directors are in material breach of their service or employment agreements (which has not been remedied for 14 days after receiving notice); or
(c) The Company materially breaches its Articles; or
(d) There is any breach of the Loan Note Instrument (details of which are set out below); or
(e) The cash assets of the Company fall below £300,000.
The Company has the following outstanding debt:
- £20,000 unsecured loan, interest-free and repayable on demand;
- £124,000 unsecured loan, interest at 10% per annum with no timeline for repayment at present;
- £48,283 from the government of Jersey as a rent, sales tax and social security holiday for Q2 and Q3 of 2020 as part of their support COVID measures. This amount due is interest-free and repayable monthly over three years starting Q2 2022;
- £174,000 of 3 finance leases for large machinery, repayable at £3,497 per month over a five-year term.
- £1,647,450 of fixed-rate, secured loan notes totalling, with an interest rate of 10% per annum beginning in November 2022, to be repaid by November 2024.
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