Newly (rushed) sub-Standard Listed Kanabo (KNB) has announced a cannabis production agreement with PharmaCann Polska, which is to supply cartiges containing Kanabo’s proprietry medicial cannabis for its VapePod inhalation device. The shares are up by 11% (last seen) on the news, to 20.5p – a long way off the ridiculous (ahem) high of over 40p at the IPO - valuing the company at some £47 million. That’s surely nonsense!
Shares in Kanabo (KNB) have quadrupled to 25.5p since it raised £6 million as part of an RTO a week ago and this company, with zero sales and perhaps £4 million in the bank, is now valued at £92 million... you’d need to be smoking serious weed to buy that. But now, after just a week, we get the first announcement of just mind-blowing bollocks showing what a total spoof this all is.