In January 2019 Imperial X obtained shareholder approval to change its investment focus of seeking investment in natural resource projects to that of seeking investment in the developing market for producing and/or distributing Medicinal Cannabis, derivatives of it and/or related products.
Imperial X is now actively seeking opportunities to invest in, or acquire companies, businesses or assets in, the medicinal cannabis sector. Ideally these will have good operational management and technical teams, with products and/or the ability to develop products that can secure market presence and strong cash flows.
The Board is aware of its legal duty to ensure that such activities are lawful and as such, will carefully consider each proposed investment to be made, its compliance with UK legislation and seek appropriate legal advice in the UK and any additional jurisdiction prior to completing any investment. At this point the Board has not identified a specific country in which it intends to invest.
The Company is likely to be an active investor and acquire control of certain target companies although it may also consider acquiring non-controlling shareholdings. The proposed investments to be made by the Company may be in either quoted or unquoted securities and made by direct acquisition of an interest in companies, partnerships or joint ventures, or direct interests in projects and can be at any stage of development. Accordingly, the Company’s equity interest in a proposed investment may range from a minority position to 100% ownership and a controlling interest.
The Company’s directors have been involved in the successful development of many companies, in a variety of sectors, quoted on AIM and the Australian Securities Exchange and have the collective experience to identify, evaluate and successfully complete transactions.
The Company has formed an Investment Committee to assess each potential investment.