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Jamaican venture eyes market flotation

Successful entrepreneur Alexandra Chong has launched her new cannabis venture Jacana and is looking to eventually float on the London Stock Market.

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5 years ago

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Chong sold her women-only dating app Lulu to industry giant Badoo in 2016, saying she was focusing on her “passion project” of creating the “champagne of cannabis”.

Last year, Jacana got the backing of a roll call of leading investors – among them venture capitalists Eileen Burbidge and Bill Tai alongside former Microsoft executive Mich Mathews. Ms Chong, who grew up in Jamaica, said she had seen first-hand how cannabis can help overcome “chronic pain, sleep issues, epilepsy, and transform lives” and was “certain” medicinal cannabis would take off in the UK.

The company raised an initial $20 million to cultivate, develop and distribute certified medical cannabis which is currently being naturally grown at Jacana’s flagship 4.4 million square foot (100 acre) farm in St Ann, Jamaica.

Ms Chong said it was eyeing a London flotation but gave no timeline, when asked by City A.M.

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