By Kristy Dorsey
A Scottish CBD company is gearing up to open its first retail shops following the appointment of two new non-executive directors.
Perth-based Voyager Life, which is also preparing for a listing on the pan-European Aquis Growth Market, will open its first store in St Andrews in the middle of next month. A second shop from a shortlist of other Scottish sites is expected to open soon thereafter.
Set up in November 2020 by chief executive Nick Tulloch, Voyager sells cannabidiol (CBD) and hemp seed oil products such as nutritional supplements, oils and soaps. The market for CBD, which comes from hemp but is not psychoactive, has been growing as an alternative for managing conditions such as anxiety, insomnia and chronic pain.
Mr Tulloch, who previously worked for US-based CBD company Zoetic International, said Voyager expects to join the Aquis market within the next six weeks. He added that the company will be looking to raise a relatively modest sum, as it is already “quite well-funded” after raising £874,000 on Seedrs in February 2021, followed by £741,000 in private funding in April.
The latter included £100,000 from Greencare Capital, an Aquis-listed investment company focused on medicinal cannabis and related areas.
Voyager employs six people and will add a new head of sales next month. It currently sells its products through its own and third-party websites, with each new retail shop creating five additional jobs.
The company has also appointed Jill Overland and Nikki Cooper to its board of directors, while Mark Underwood joins as head of sales.
READ MORE: Hundreds seek help from Stirling medical cannabis clinic in first week
Ms Overland has more than 25 years of experience working in senior finance roles and is currently responsible for finance and corporate services at UK oil and gas company Cuadrilla Resources.
Ms Cooper is a solicitor whose roles have included general counsel at Ora Capital Partners, and in corporate finance at N+1 Brewin. She is also founder of health supplement brand Inner Me Limited.
Voyager chairman Eric Boyle said: “These high-quality hires add to the momentum at Voyager and Jill and Nikki each bring significant amounts of relevant experience to the board. Their appointments reflect our robust approach to assurance and compliance as the strong foundations upon which we are building the brand and the business.
“Jill’s experience as a finance and business services director and Nikki’s experience in the supplement industry and in supporting companies on corporate transactions will help achieve Voyager’s commercial objectives post-IPO.”
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