Spinnaker Opportunities blazes its own trail in 'highly' supportive cannabis industry

AIM-listed investor Spinnaker Opportunities has been presented with a number of opportunities in its search for a suitable acquisition and reverse take-over target in the cannabis processing industry.

Spinnaker said it had "been active in expanding its networks and expertise in the sector" with a number of opportunities within the "highly" supportive industry currently being evaluated and developed.

Chairman Andy Morrison, said: "Investor appetite for the cannabis processing industry in Europe is strong and we are looking forward to delivering a suitable acquisition and RTO transaction as soon as we can."

In other news, Spinnaker announced that finance director Jonathan Bradley-Hoare had chosen to step down, effective immediately, as his accounting firm, Welbeck and Associates, was in the process of merging with a larger international firm.

Alan Hume will take his place on the board until a full-time replacement is found.

Discussing the board changes, Morrison added: "I thank Jonathan for his assistance in the founding and management of Spinnaker to date and wish him success in his next endeavours. He will remain a valuable friend of the company."

As of 1145 GMT, Spinnaker shares had lit up 8.09% to 5.08p.