Ananda Developments PLC - London-based pharmaceutical company developing cannabinoid-based medicines for chronic pain conditions - Issues 600,000 GBP1 denomination unsecured, interest-bearing convertible loan notes. The issue consists of a total cash investment of GBP300,000 raised from two existing shareholders in the company and debt capitalisation of GBP300,000 owed to Charles Morgan, chair of Ananda, pursuant to existing loan agreements.

Following the debt capitalisation, the outstanding unsecured debt owed by Ananda under the loan agreements is GBP709,000. Notes Morgan has agreed not to call the loans until after January 31 2025. Explains the funding will be used for general working capital purposes and to pursue further clinical trials into inflammatory pain conditions.

Current stock price: 0.325 pence

By Jeremy Cutler, Alliance News reporter

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