Love Hemp Group PLC (AQSE:LIFE, OTCQB:WRHLF) announced it has been included on the Food Standard Agency’s (FSA) public list of cannabidiol (CBD) products.
Inclusion enables the consumer goods company to progress to the validation stage.
Featuring on the latest public list “endorses all of our submitted products and enables Love Hemp to continue to trade legally,” as well as “provide clarity for consumers”, the company said in a statement.
“The CBD industry in the UK has been largely unregulated, resulting in a lack of clarity for our consumers and we welcome progress made to date by the FSA,” said chief commercial officer Adam Pritchard.
“We continue to work closely with the FSA and look forward to the next stage of the process, proceeding to validation followed by full approvals."
The company highlighted that the announcement confirms that “Love Hemp is well-positioned to accelerate its growth plans with existing and prospective sales channels, high street retailers, business to business, alongside our own e-commerce platforms, direct to consumer”.
The process began two years ago, when the London-listed company submitted multiple individual products, with over £300,000 worth of investment to receive the best legal and scientific advice for a successful application.