On December 16, 2020 EMMAC Life Sciences Group ("EMMAC" or the "Group" or the "Company"), Europe’s largest independent cannabis company, reported that it has raised £15.0 million via an issue of Convertible Loan Notes (the "CLN Issue") (Press release, EMMAC Life Sciences, DEC 16, 2020, View Source [SID1234572927]). The CLN Issue saw strong support from existing shareholders, with Measure 8 Venture Partners LP, EMMAC’s largest existing cash investor, leading the round with a significant investment.

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EMMAC continues to build upon its leading position as Europe’s largest independent cannabis company and is seeing growth in its key markets in Europe as the demand for premium medical cannabis and wellness products grows. The UK medical cannabis market in particular is witnessing significant momentum, with EMMAC leading the way in enabling greater patient access in terms of product accessibility and cost for patients.

Antonio Costanzo, CEO of EMMAC, said: "We are pleased to see strong interest in this round of funding, which will allow EMMAC to continue to scale and build on its position as the European leader. I would like to take the opportunity to thank Measure 8 for its support leading this funding round and to all shareholders for their support as we grow a robust and sustainable business."