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Cilo Cybin Holdings Ltd. Rekindles Stock Exchange Listing Plan in Johannesburg



Cilo Cybin Holdings Ltd., a prominent South African player in the burgeoning medical cannabis industry, has announced its intention to reinitiate plans for a stock exchange listing in Johannesburg. The company's decision comes with the aim of bolstering its financial standing and expanding its reach in the rapidly evolving cannabis market.

In a statement released by the company, it disclosed its intention to offer a 10% stake in its enterprise for public sale, commencing on Thursday. With an ambitious target of raising 7.1 million rand (approximately $381,000), Cilo Cybin seeks to leverage this capital infusion to fuel its growth strategies and capitalize on emerging opportunities within the cannabis sector.

This revival of its listing aspirations marks a significant milestone for Cilo Cybin, following an earlier setback when its initial attempt to go public was shelved due to slower-than-anticipated capital raising efforts. Undeterred by this previous setback, the company is determined to forge ahead with renewed vigor, buoyed by a clear vision and unwavering commitment to its objectives.

Backing Cilo Cybin in this endeavor is the esteemed Malaysian biotechnology firm ALPS Global Holding Bhd., which serves as a vital strategic partner and investor. Their support underscores the confidence in Cilo Cybin's business model and its potential to thrive in the competitive landscape of medical cannabis.

The resurgence of Cilo Cybin's listing plans reflects the growing prominence of the cannabis industry in South Africa and the broader global arena. With shifting attitudes towards cannabis legalization and increasing recognition of its therapeutic properties, companies like Cilo Cybin are poised to capitalize on this momentum and drive innovation within the sector.

Moreover, Cilo Cybin's decision to list on the Johannesburg stock exchange signifies its commitment to fostering local investment opportunities and contributing to the economic growth of South Africa. By providing avenues for investors to participate in the burgeoning cannabis market, the company aims to stimulate job creation, promote entrepreneurship, and bolster economic development in the region.

As Cilo Cybin embarks on this new chapter of its journey, it remains steadfast in its mission to revolutionize the medical cannabis landscape, advancing research, and delivering high-quality products to meet the evolving needs of patients worldwide. With its renewed listing efforts, the company stands poised to chart a path towards sustainable growth and cement its position as a trailblazer in the global cannabis industry.

Originally reported by BNN Bloomberg.