Medical cannabis company Northern Leaf eyes London listing later this year

📆 12.02.2021 14:05:00
📰 Reuters

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Northern Leaf Ltd is close to hiring a lead broker for a London stock listing later this year, its financial adviser said, a month after it became only the second company to receive a license for growing medical cannabis in the British Isles.

FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls/File Photo

Surging demand for medical cannabis, increasingly used to cope with mental health conditions such as depression, anxiety and insomnia, has pushed countries across Europe to consider tweaking their laws. Australia’s MGC Pharmaceuticals Ltd became the first medical cannabis company to trade on the LSE on Feb. 9, with its shares more than trebling since the debut.

Northern Leaf expects its first commercial harvest in the third quarter and can produce 6,500 kilograms of dry flower at full capacity. The company plans to sell its harvest in countries including the United Kingdom, Israel and Germany.

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