Hilltop Leaf Holdings Ltd is a private medicinal cannabis cultivation and extraction business focused on producing full‑spectrum cannabinoid oils, active pharmaceutical ingredients and cannabis-based medicinal products for the European market. The company aims to create upwards of 50 jobs and to establish a fully integrated medicinal cannabis operation, including a plant in Scotland. Hilltop closed a Seed Enterprise Investment Scheme (SEIS) round, subscribing 20,000,426 shares at 10 pence each and raising gross proceeds of £2m. The SEIS raise comprised equity subscription shares sold to individual SEIS investors and new shareholders under the SEIS tax-relief framework. The funds are being invested in early greenhouse construction (to capitalise on a prior £735,000 South of Scotland Enterprise grant from 2020), quality management systems, a pilot product-development project and the company’s licence application process. Management says the capital is a vital step toward realising strategic goals, converting plans into reality, and maintaining governance and science-led delivery for patients. Hilltop Leaf Ltd was founded by William Ewart, his father Neil Ewart, and Hamish Clegg and is building a private medicinal cannabis cultivation and extraction operation to produce medicinal oil. The company has planning permission from Dumfries and Galloway Council and says construction is already underway on an 11,000 sqm factory expected to be completed by the end of March. South of Scotland Enterprise (SOSE) has provided £690,000 in capital investment to support the build. Hilltop expects to create more than 50 jobs across technical, quality assurance, agricultural and operational roles as it scales. Management has appointed a Qualified Person (QP) and is preparing quality management systems while engaging with the Medicines and Healthcare products Regulatory Agency and the Home Office. The team plans to raise additional external private funding to expand the business and make medicinal cannabis widely available as an affordable treatment option.

Total raised

$4M

Funding rounds

2

Latest round

Seed

Latest activity

May 2021