Hill Dickinson advises first medical cannabis cultivator Hellenic Dynamics on successful LSE listing

Life Sciences law firm Hill Dickinson has advised the board of Hellenic Dynamics plc (formerly UK SPAC plc) on its successful acquisition of Hellenic Dynamics SA, a Greek company involved in the cultivation and production of THC-dominant strains of medical cannabis flowers designed to be prescribed by doctors, and its admission to trading on the Main Market of the London Stock Exchange.

The deal represents a landmark development, as Hellenic Dynamics will become the first medical cannabis cultivator to obtain a Main Market listing.  

Hellenic Dynamics will develop and operate its 40,000 square metre cultivation licence from its 195,506 square metre facility located near Thessaloniki in Northern Greece.  The company will aim to distribute medical cannabis products to Germany, as Europe’s largest medical cannabis market.  

The listing process was led by Hill Dickinson’s London Corporate team with the support of the Piraeus office which was able to provide local advice in connection with the acquisition process.  

Davinder Rai, CEO of Hellenic Dynamics said:

“As the first medical cannabis cultivator to join the LSE’s Main Market, Hellenic Dynamics, was subject to an extensive regulatory process, which Hill Dickinson expertly helped us to navigate and their unparalleled knowledge and experience of working in the medical cannabis sector gave the Board of Hellenic Dynamics full assurance that we would be able to achieve this ambitious milestone for our business and the cannabis industry.”

Jack Delaney, a partner in Hill Dickinson’s London Corporate team, commented on the transaction:

“We are delighted for Hellenic in completing this important transaction and we wish them every success as they commence operations cultivating and producing medical cannabis, and seeking to distribute their products into Germany, which remains the largest medical cannabis market.  It is an exciting period for the cannabis industry as there remains significant opportunities for growth and a realistic prospect of increased liberalisation of cannabis laws across Europe, which businesses like Hellenic stand to capitalise on.”

The deal team consisted of Jack Delaney (Partner, London), Oliver Hart (Paralegal, London), Victor Oliynik (Associate, London), Jasel Chauhan (Partner, Piraeus) and Anthony Paizes (Partner, Piraeus).