Highlands Natural Resources PLC (LON:HNR) has agreed a deal to supply cannabidiol to a group developing CBD-infused wound dressings.
Under the two-year agreement it will provide the hemp-derived ingredient to Cellulac, a company 9.35% owned by AIM-listed Integumen PLC (LON:SKIN). It will then be used in the Wound pHase and STOER range of wound care and skin care products.
"With over 110 varieties of hemp, there is a requirement to provide quality hemp-derived CBD to meet specifications for the medical, cosmeceutical and pharmaceutical sectors, grown under supervised quality-controlled conditions,” said chairman Robert Price.
"Our state-of-the-art, 33,000-foot indoor hemp growing facility in Colorado, US, offers the quality and consistency grade needed to meet those requirements.
“We welcome the recognition of the quality products and the opportunity to collaborate with Cellulac and Integumen to deliver consumer products for wound care and skin care consumer products in the shortest possible time."
Shares in Highlands jumped 12% to 7.52p in morning trading.
