The European Court of Justice ruling provides that CBD is not classified as a narcotic drug, and that the French ban on hemp derived CBD contradicts European Union law. This decision opens the door for high quality, compliant CBD companies to operate in markets across the EU. Sativa Wellness Group plc (AQUIS:SWEL) welcomes this news as the Company operates CBD extraction and production facilities and markets, distributes and sells CBD products throughout the UK and the EU.
The Group have embraced the industry regulations in the UK and are on track with their extensive product range for the submission deadline in March 2021 of the UK FSA Novel Foods Accreditation which should now be, subject to the process resuming, an easy transition to the European FSA Novel Foods accreditation.
Sativa Wellness holds a unique ‘seed to consumer’ position in the market, offering consistent quality control of the cannabinoid, full traceability of ingredients, manufacturing and testing with the added reassurance to the customer that each batch is QR coded which tracks back to its testing report.
From this enviable position the Company has developed the ‘Goodbody’ brand – CBD you can trust. Under the Goodbody brand umbrella are the Goodbody Botanicals range for the everyday and pharmaceutical markets and the Goodbody Wellness brand, with its addition of Vitamin D, as a premium CBD brand for the health and beauty spa market.
The Goodbody range is available at retailers and direct to the consumer online through Goodbodystore.com and soon available in Europe. As part of our route to market the Company intends to focus on retail listings and selling directly online within Europe.
“We welcome the news of the EU’s highest court ruling. As a UK and European company that is committed to working with regulators and delivering the highest quality CBD wellness products, this news helps to enable our expansion plans. We currently own extraction and production capabilities in Europe and see this large market as a key driver for our growth for not only our CBD isolate and distillate ingredients, but also for our Goodbody CBD brands!” said Henry Lees-Buckley, CEO of Sativa Wellness.
