FinancialBuzz.com’s latest Behind the Buzz Show: Featuring Our Corporate Overview on World High Life PLC
The legal cannabis industry continues to grow around the world thanks to continuous legislative achievements in North America and Europe. Specifically, legalization of medical cannabis and its decriminalization in some countries has led to a noteworthy decrease in black-market activity, as people are shifting to legally purchasing cannabis for their medical as well as recreational use. Cannabidiol-based (CBD) products have also swiftly emerged and with their growing popularity, CBD is largely credited to various medical applications that are associated with these products. For example, full-spectrum CBD oil is considered to be a great source of Omega 3 and Omega 6; Omega 3 plays a vital role in creating hormones that regulate inflammation as well as contractions and relaxation of arteries. Overall, data by Grand View Research indicates that the medical segment held the dominant revenue share of the cannabis market, accounting for 71.0% in 2019. However, medical use of marijuana is strictly categorized as a medicine prescribed by a physician and the distribution of these medicines is regulated by the government.
The U.S. Food and Drug Administration famously approved Epidiolex, the first FDA-backed cannabis-based drug. However, the FDA also made clear that additional research is required in order to advance with more approvals. Notably, the Administration has since held numerous public hearings in order to further understand the efficacy of CBD. And while only one cannabis-based drug has been approved, the efforts of the FDA highlight that CBD is having a significant medical progression. Additionally, many industry experts believe that CBD could potentially become a medical breakthrough that could replace dozens of different traditional drugs on the market. “While those in the industry, medical professionals and the public all seem to be in favour of CBD as a medical product, the stringent regulatory barriers in place before any product can be fully licensed require, quite rightly, extensive testing and trials,” said Dr. David Dawit, Chief Scientific Officer at Eos Scientific, according to PositiveHealthOnline. “The future of CBD looks incredibly promising.”
About Love Hemp
Love Hemp is one of the UK’s leading CBD and Hemp product suppliers and has more than 40 product lines, comprising oils, sprays and vapes and a variety of edible and water-based CBD products. Love Hemp has established relationships with over 1,200 stores in the UK, including leading brands such as Ocado, Holland & Barrett and WH Smith.
About World High Life
World High Life was established by the founders of Supreme Cannabis (TSX:FIRE), and 1933 Industries (CSE:TGIF), both companies at the forefront of the legalized cannabis industry. LIFE was established to take advantage of the huge opportunities available in the UK and European legal cannabis space, which is set to be the largest in the world within five years.
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