Medical marijuana company set to list on JSE in a first for SA

Cilo Cybin Holdings claims the distinction of being the first entity in South Africa to obtain both medical cannabis cultivation and manufacturing licenses.

Established in 2018, the biotech company is now set to list on the Johannesburg Stock Exchange and is eyeing a US listing in a few years' time as well.

Cilo Cybin has become the first cannabis company to receive approval for a listing on the JSE - it joins the AltX on 25 June as a special purpose acquisition vehicle (SPAC).

It's further aiming for future growth through new acquisitions in the biotech and medical cannabis sectors over the short term.

On The Money Show, founder and CEO Gabriel Theron says while they do supply a small CBD range locally, their focus is on export markets.

These markets only really opened up for them mid-2023 Theron adds, after a 'long and very tedious' journey to get where they are now.

"Since then it's been going from strength to strength. The biggest market currrently for us is Australia."

"We're also now looking at getting into the European market and we've had quite a bit of interest from countries as recently as today to get our products into those markets."

Gabriel Theron, CEO - Cilo Cybin

Cylo Cybin is still the only fully vertically integrated cannabis company in South Africa, Theron says.

And while it is actually a very strong market, there are still regulatory hurdles to overcome despite some recent progress, he adds.