Sativa Investments appoints head of new retail arm

Sativa Investments PLC (NEX:SATI) has appointed Chris Jones to launch wellness centres that will sell a medicinal range of cannabis-derived products.

Retail professional Jones most recently held the role of consultant sales director at a vaping company with 110 outlets and worked with another in Northern Ireland with 20 stores.

WATCH: Sativa Investments ‘at the forefront’ of developing UK medical cannabis market

Before that, he had senior positions in the mobile phone industry with names such as Nokia, where he was UK sales director, Dextra Mobile Accessories and Phones 4U. 

Jones, who will be the managing director of Sativa Wellness Centres Limited, helped build Swindon-based mobile service provider Cellular Operations to a subscriber base of 500,000 before it was acquired by Vodafone.

“Chris’ experience of growing businesses in these highly competitive markets, coupled with very strong retail and franchise operational knowledge, is an ideal fit for Sativa’s aggressive market development plans for its Goodbody & Blunt wellness centres,” said founder and chief executive Geremy Thomas.

“The model will be proofed with two to three retail outlets, then the company has the option to roll it out further or as a franchise.”

CBD products 

The aforementioned Goodbody & Blunt will offer customers a variety of cannabidiol, or CBD wellness products at drop-in cafes.

CBD is a cannabis compound that is thought to have significant medical benefits, but does not make people feel “stoned”.

The fact that CBD-rich cannabis is non-psychoactive or less psychoactive than THC-dominant strains makes it an appealing option for people looking for relief from inflammation, pain and anxiety.

Earlier this month, NEX-listed Sativa, which was set up as a vehicle to invest in medicinal cannabis, announced plans to become a first-mover seed-to-consumer business here in the UK, following the model pioneered in Canada.

Its blueprint will require at least £12mln of funding – which would cover the cost of a glasshouse operation in Wiltshire – and probably more if it is to fully bankroll its ambitious plans.

In afternoon trading, Sativa Investments shares on the NEX market were trading at a mid-price of 5.875p each, up from Monday’s close of 5.65p.

 – Adds share price –

Story by ProactiveInvestors