Did cannabis just become worth investing in?

You can also listen to this podcast on iono.fm here. ADVERTISEMENT CONTINUE READING BELOW JIMMY MOYAHA: We are looking at initial public offerings, or IPOs, for 2024, and what better way to start it off than to look at the first IPO of 2024 on the JSE, Cilo Cybin.

We find ourselves in March, almost April, this year. So things always take a little bit longer, but we are very glad we got over the hurdles. GABRIEL THERON: Well the date is the April 12 to close. However, the board did retain the right to close the IPO as soon as we hit the 10% target, which is about R7.1 million, and we are well on track to reach that target. Once we close, then it’s a matter of going to the JSE, submitting all the paperwork, the last final bit, and we’ll get a listing date for the company to then start trading.

GABRIEL THERON: There’s been quite a significant shift. There was a communication that came out in January this year, with government asking public participation in terms of changing the scheduling of tetrahydrocannabinol , the active ingredient in cannabis. JIMMY MOYAHA: Hopefully a move in the right direction, and we hope to see that momentum continue. Let’s look at those exciting developments from Cilo Cybin’s perspective, the plans that you guys have over the next 12 months. While South Africa is still dealing with regulation there is another region that has promulgated legislation; that’s Australia, and you guys have some serious plans for that.

GABRIEL THERON: Definitely so. If you look at the previous roadshow we did, the biggest question we received was: ‘If you look at all the cannabis companies coming out of Canada, they’re all failing. If you look at the Cannabists, the Tilrays, the Auroras – all of them are struggling. They’re taking massive hits on the stock exchange. So what makes you different?’

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