Dragonfly Biosciences UK Expects to Commence Trading under the Symbol DRF on the Australian Securities Exchange Ltd (ASX) from August 2023

Prospectus Approved by the Australian Securities and Investments Commission

LONDON, July 5, 2023 /PRNewswire/ -- British Company, Dragonfly Biosciences UK, the makers of Dragonfly CBD, Europe's largest and leading, award winning seed to shelf range of CBD oils and skincare products, is excited to announce that its prospectus has been lodged and accepted by the Australian Securities and Investments Commission on 27 June 2023. As a result, Dragonfly Biosciences Limited is set to be listed on the ASX from August 2023

The company intends to raise $5 million AUS dollars at $0.20 cents per share, with the financing being jointly led by Finexia Securities Limited and RM Corporate Finance Pty Limited (https://www.finexia.com.au/dragonfly). According to Fortune Business Insights the global CBD market is estimated to be USD $3.6 billion growing to USD $55 Billion by 2028.

The Dragonfly CBD brand is already a huge success, sold online and in pharmacy stores, health food stores and grocery retailers across the UK, Europe and Australia.

Regan Saveall, Chief Executive at Dragonfly Biosciences UK commented, "Our imminent listing on the ASX is an incredible milestone for the company. We are proud of the global acceptance of our trusted, scientifically backed, CBD premium brand portfolio. We keep innovation and quality at the heart of Dragonfly CBD and our extensive research and development and stringent quality controls will always guarantee the highest and most consistent product quality. This is why we are a premium retailer of CBD health, wellness and lifestyle products where vertical integration sits at the centre of our business operations. As a result, we own certified organic land and a licensed dedicated CBD extraction facilities – together with stringent testing in third-party laboratories that are globally recognised, ensuring a 'seed to shelf' quality assurance of every single product that we produce. That's why we publish on our website a 'Certified of Analysis' certificate known as a COA for every single product batch produced for sale, ensuing our commitment to quality transparency."

"As we move through 2023 and beyond, we will continue to introduce global market firsts and our business expansion strategies will propel us into new markets as we strive to create the next generation of health and wellness innovation."

Regan Saveall at Dragonfly Biosciences UK adds: "Thanks to our brand's integrity and following strict quality production procedures from seed to shelf, we were the first CBD brand in the UK to be stocked by Boots and have significant retail listings across community pharmacy, Sainsbury's, Amazon, health food stores, specialist retailers, other grocery retailers plus eBay to name but a few retailers. As a result, our Dragonfly CBD brand dominates the UK market and we are leveraging this success to build rapid global growth. In 2021, Dragonfly CBD became the first international and UK CBD brand available in pharmacies across Australia. This business expansion came off the back of the Australian Therapeutic Goods Administration changing the regulations to allow registered CBD products to be sold in Australian Pharmacies."

"Adding to this business expansion, we have developed a portfolio of innovative CBD-infused topical products ranging from muscle balms, face and body lotions and skin patches. Further white label business innovation together with partnerships including distribution agreements, coupled with business firsts for our Dragonfly CBD brand will continue at speed throughout the rest of 2023 and beyond."

Source of story: Dragonfly Biosciences UK

Notes to editors: Dragonfly Biosciences Ltd is a UK based company with international reach. Dragonfly has been awarded "Best CBD Product" by one of the world's most respected health and beauty retailer and pharmacy chain in 2020 and voted the number one recommended CBD brand by Boots' customers in 2021. In 2022, Dragonfly CBD was highly commended as a most valuable product – MVP – voted by pharmacy within the Natural and Complementary Healthcare Sector. 

Supported by experts in farming, cultivation, extraction, formulation, compliance and training, consumers can be assured of the highest quality, consistent standards that comply with regulations. These values translate in all of their markets. Looking after the planet is also important to Dragonfly Biosciences Ltd which is why the company has environmentally sustainable practices in place which lessens the company's environmental footprint. On average, hemp cultivation yields a sequestration ratio of 1.5 units of sequestration per unit produced. This means that one tonne of harvested hemp should sequester 1.62 tonnes of CO2. As hemp sequesters carbon from the atmosphere, it is filtered back into soil through a process called bio sequestration.

Dragonfly CBD can be found at a variety of reputable stockists on the UK high street including Boots, Sainsbury's and in pharmacies where professional advice may be sought on appropriate use of the product. Dragonfly CBD oral drops are available in a range of strengths and flavours. Vitamin D is included in some oral preparation to facilitate consumers obtaining the UK government recommended daily dose of this essential vitamin. Dragonfly also produces a CBD skin care range. www.dragonflycbd.com

SOURCE Dragonfly Biosciences Ltd