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GrowLab Organics

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GLO is a British cannabis company headquartered on the Isle of Man. We believe in the power of cannabis.

142%
 - 
Funded 4 Aug 2023
£2,000,000 target
£3,128,326 from 2,123 investors
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Business overview

Location Douglas, Isle of Man
Social media
Website growlaborganics.com
Sectors Healthcare Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 020307V
Incorporation date 11 Apr 2023
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Investment summary

Type Equity
Valuation (pre-money) £24.5M
Equity offered 10.43%
Share price £1
Tax relief N/A
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Business highlights

  • First community owned cannabis cultivation company in Britain
  • Exclusive partnership with Cancard - 75,000+ cannabis patients
  • Proprietary technology IP - the GLOchain for all track and trace
  • Documentary being filmed by production company Workerbee TV
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Key features

  • Secondary Market
  • Nominee investment min. £20.00 +
  • Direct investment min. £30,000.00 +
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 2,123
  • Discussion
  • Documents

Idea

Introduction

GLO is a cooperatively owned cannabis company in the British Isles. We exist to support our patients so they can live better lives through the power of cannabis. We believe that no one should struggle to access cannabis as their medicine.


Challenge:

Over a million people are using cannabis in the UK daily but do so with the fear of criminalisation. Legally there is limited choice and the accessibility varies as wildly as the quality. The real experts are unable to find work within their specialism and corporations are leading the charge without considering the existing patient community. It’s time to end the struggle.

Solution:

GLO will look to offer choice by producing craft quality cannabis at a fair price, we'll do so with the community in our hearts, our ears and in our facilities. We grow with love for you.

Result:

Patients will be able to access the quality of medicine that they deserve. We envision specialists working with and for GLO, as well as the community as a whole benefitting from our growth as a co-operative.

Substantial accomplishments to date

Licenses:

GLO has been approved by the Isle of Man Government for cultivation, processing, finished products, import/export, R&D, and testing.

Community:

Exclusive partnership with Cancard.

Cancard is the largest cannabis patient group in Europe representing more than 75,000 members.


Product:

We're building a cutting-edge facility to produce our own differentiated flower and solventless products in the pipeline.

We'll look to enable access to licensed producers all over the world to find the best products patients want.

Technology:

Proprietary GLOchain provenance, production and supply chain control tool.

Ability to track all variables in production and use data to help patients, regulators and us.

Brand & Marketing:

Purpose and value-led organisation.

Comprehensive media and comms strategy lined up.

We have a documentary series being made about GLO which is currently being pitched to some national broadcasters.


Isle of Man:

We believe this is the ideal location to base a British cannabis company, part of British Isles, inside the Customs Union for trade, separate government and regulator to the UK.

Availability of power, water, land, low tax and good relationship with the government.

Monetisation strategy

Once the facility is built and production begins, we envisage GLO's primary source of revenue will come from selling medicinal cannabis in both expertly dried and cured flowers and also extracted forms using cutting-edge solventless techniques.

Within this, we will look to provide a range of strains and cultivars that broadly fall into four different chemovars or categories: high THC, medium THC, balanced THC:CBD, and high CBD.

We aim to achieve this both by importing 3rd party products and by creating our own products. Having a mix of manufactured and wholesale sales provides resilience in supply to meet demand changes, as well as increased choice for patients.

Trading 3rd party products is a light touch, lower margin revenue stream, whereas we calculate the margin on in-house production to be extremely attractive as the marginal cost of supply drops whilst the price does not.

We envisage that our initial customers will be GPhC-licensed pharmacists that dispense to patients holding prescriptions.

We believe our partnership with Cancard gives us a strategic advantage with our route to market.

Use of proceeds

Majority of funds are earmarked to build a first class cannabis facility, enabling us to produce the highest quality products using craft organic growing methods at scale.

The licenced facility on the Isle of Man will, at full capacity, operate 22 separate 200m2 flower rooms and 6 drying rooms, which we calculate will produce over 20 unique strains each year.

Our vision is for heat, energy and water to all be recovered and recycled within the facility, with even the plant stalks being turned into the product packaging.

GLO has built proprietary supply chain technology that will enable complete transparency for patients on how each plant has been grown and processed. This will also enable a feedback loop - providing unique insight for the wider medical community on the impact of different strains on symptoms and conditions.

In addition to the facility, which is a fixed asset, we plan to invest in exceptional talent to operate the business. During construction our team will remain lean, increasing only once we are actively cultivating.

Key Information

Group Structure:

Investors in this round are investing in and will become shareholders of Grow Lab Organics IOM Ltd (020307V), incorporated in the Isle of Man. This is the holding company for the group. Grow Lab Organics (134098C) is the trading entity and a wholly owned subsidiary. The UK entity Grow Lab Organics LTD (11499307) is in the process of coming into the group as a wholly-owned subsidiary.

Management Interests:

The founder and CEO of Glo Global Ltd, Alex Fray, is also director of the Isle of Man Government Department for Enterprise Business Agency, advising the government on the cannabis and biomedical sectors. There’s no ownership or remuneration. Alex is also a director of Affinity Global Ltd, a corporate services provider headquartered in the Isle of Man. Alex attends one meeting per quarter, and Affinity offers services to Glo Global.

The Chief Community Officer, Carly Barton, is part-time and has 51% ownership of Cancard, a strategic medical cannabis patient association partner.

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

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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 GrowLab Organics has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 2 June 2023 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 £24,500,000

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.

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Equity Offered

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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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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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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

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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

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