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Avida Global

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Improving lives through sustainably produced, high-quality medicinal cannabis oils and derivatives.

166%
 - 
Funded 12 Jul 2021
£1,000,003 target
£1,667,579 from 567 investors
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Business overview

Location London, United Kingdom
Social media
Website www.avidaglobal.com/
Sectors Healthcare Non-Digital B2B
Company number 11540240
Incorporation date 28 Aug 2018
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Investment summary

Type Equity
Valuation (pre-money) £15.5M
Equity offered 9.72%
Tax relief

EIS

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Business highlights

  • Chaired by Lord Mancroft with an accomplished management team
  • Raised £6.1m to date
  • 1st harvests achieved, leading to 1st sale in April 2021
  • Multiple market opportunities in the well-being & medical markets
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Key features

  • Secondary Market
  • Nominee investment min. £11.16 +
  • Direct investment min. £20,000.00 +

Idea

Introduction

Avida Global is a B2B producer of sustainable high-quality medicinal cannabis oils and derivatives for the global medical, well-being and cosmeceutical markets. Headquartered in London we have a cultivation and processing facility in North East Colombia.

The therapeutic properties of the cannabis plant and its potential to improve lives is driving countries to legalise its use - 53 have to date - with recent global events expected to accelerate this further. As a result, the demand for medicinal cannabis is expected to soar from $33.1bn today to $84.0bn by 2028 - a CAGR of 14.3%.

Our cultivation and production processes ensure the highest quality and consistency of our oils. As the market matures, this focus on quality will determine the companies that succeed.

We believe we have the scalability to become one of the largest producers of medicinal cannabis globally; the climatic, horticultural, and cost-based advantages of growing in Colombia, and the business and agronomic knowhow to succeed.

Substantial accomplishments to date

Q3 2018 - Avida Global founded

Q4 2018 - 40-year land lease in North East Colombia agreed for 40-hectare site

Q4 2018 - All licence applications submitted, and 21 seed cultivars registered in the National Registry

Q1 2019 - Key Colombian hires inc. Carlos Orbegozo (H/O Operations) & Ricardo Arboleda (Master Grower)

Q4 2019 - First greenhouse completed and growing begins

Q4 2019 - Lord Mancroft joins as Chairman

Q4 2019 - Award of initial non-psychoactive cannabis cultivation, manufacturing, and export licences granted

Q4 2019 - Award of final psychoactive licences

Q4 2019 - 40-hectare site now fully licenced

Q2 2020 - Peter Ryan-Bell joins as CFO (ExCo for NatWest commercial and private bank)

Q2/3 2020 - £3.1m funds raised

Q3 2020 - Construction of Post-Harvest room begins

Q4 2020 - Second greenhouse completed and growing begins

Q1 2021 - Start of a 3-year clinical trial led by Avida’s Chief Medical Officer, Dr Francisco Cabal, and his team

Q2 2021 - Partnership being finalised with medicinal cannabis prescriber through doctors and clinics for the supply of medicinal cannabis strains in the UK

Q2 2021 - Facility construction complete - first commercial harvests, first major contracts, potential strategic acquisition

Monetisation strategy

In parallel to completing our facility, we have been forging key partnerships with distributors and value-added partners and have a number of exciting opportunities in the pipeline:

Longer-term, we will be vertically integrating across the value-chain to a ‘seed to sales’ business covering cultivation, manufacturing, formulation through to end-consumer and patient. This will enable us to derive maximum profit from the entire value chain.

Use of proceeds

We are aiming to raise funds for the following purposes:

Key Terms

Debt

The company has the following outstanding debt:

£50,000 bounce back loan accruing 2.5% pa for 6 years. The first 12 months are interest free.

£135k secured loan note with an interest rate of 8% and a repayment date of 31 March 2023.

Future Fund

£1m Future Fund Convertible Loan Note accruing 8% interest, a 20% discount and a valuation cap of £18.5m. Full details of the terms can be found in the template convertible loan agreement here https://www.british-business-bank.co.uk/ourpart...

This has been priced into the pre-money valuation and is expected to convert as a result of this round.

Company Structure

Avida Global LTD has a 90% owned subsidiary in Colombia - Avida Global SAS. This is due to a Colombian law requirement that a portion of Colombian SAS must be owned by a Colombian national in order to both set up the company and set-up a bank account. In this case, this is a connected party to the Founder and the land-owner.

This subsidiary is used as the operating entity of Avida Global LTD, who purchases finished product from the subsidiary to distribute. All IP and assets are held in Avida Global LTD.

The Company currently banks with a Colombian national bank but wishes to move to one of two international banks, at which point Avida Global SAS will revert to being 100% owned by Avida Global Ltd.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Avida Global has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 21 May 2021 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £15,451,760

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

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Direct investment

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

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