Completion of investment in Kanabo Group plc

16 February 2021

Vela Technologies plc

("Vela" or "the Company")

Completion of investment in Kanabo Group plc

Further to its announcement on 2 February 2021, the Board of Vela (AIM: VELA) is pleased to note the admission of the enlarged share capital of Kanabo Group plc (formerly Spinnaker Opportunities plc) ("Kanabo") to the standard segment of the official list of the UK Listing Authority and to trading on the main market of the London Stock Exchange ("Admission") earlier today.

Following Admission, Vela's investment of £150,000 in Kanabo has completed and Vela holds approximately 0.6 per cent. of the issued share capital of Kanabo.

Further details on Kanabo are contained in Vela's announcement dated 2 February 2021, and in Kanabo's prospectus which is available at: http://kanabogroup.co.uk/.

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About Vela Technologies plc   

Vela Technologies plc (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. Vela's investee companies have either developed ways of utilising technology or are developing technology with a view to disrupting the businesses or sector in which they operate. Vela Technologies will also invest in already-listed companies where valuations offer additional opportunities.