NUTRITIONAL HOLDINGS LIMITED - Proposed acquisition of a cannabis business and cautionary announcement

Proposed acquisition of a cannabis business and cautionary announcement

Nutritional Holdings Limited
(Registration number: 2004/002282/06)
(Incorporated in the Republic of South Africa)
(Share Code: NUT ISIN Code: ZAE000156485)
(“Nutritional Holdings” or “the Company”)



Proposed acquisition of a cannabis business and cautionary announcement

Shareholders are advised that Nutritional Holdings has entered into a Memorandum of Understanding
with The Wellness Trust 29 on the 17th December 2019 to acquire a 100% shareholding in Ukusekela
Holdings (Pty) Ltd (“Ukusekela”) for a total consideration of R140 million payable by a combination of
cash and the issue of Nutritional Holdings shares at 4.5 cents per share (“the Transaction”).

Ukusekela holds various licenses in Lesotho, Zimbabwe and Swaziland for the cultivation, harvesting,
manufacturing, distribution, importing and exporting of cannabis as well as a research laboratory in
South Africa. It also has a distribution take-off agreement with one of the largest Cannabis
pharmaceutical companies in Europe.

Shareholders are advised to exercise caution when dealing in the Company’s securities until a full
announcement is made.


Johannesburg
17 December 2019


Designated Adviser
Exchange Sponsors

Date: 17-12-2019 03:30:00
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