Seed Innovations Limited Food Standard Agency's Public List of CBD Products
April 05 2022 - 1:01AM
RNS Non-Regulatory
TIDMSEED
Seed Innovations Limited
05 April 2022
Seed Innovations Ltd / AIM: SEED / Sector: Closed End
Investments
5 April 2022
SEED Innovations Limited ("SEED" or the "Company")
Food Standard Agency's Public List of CBD Products Update
SEED Innovations Ltd, the AIM quoted company investing in fast
growing and industry leading businesses with a focus on the medical
cannabis, health and wellness space, is pleased to note the recent
update by the UK Food Standard Agency ('FSA') with a list of
cannabidiol ('CBD') products permitted to stay on the market in
England and Wales, pending further consideration.
A number of CBD products sold by some of SEED's portfolio
companies, have successfully been included on the FSA's list of CBD
products linked to novel food applications, enabling them to
continue in the market and progress through the validation
stage.
This follows a two-year cooperation between the FSA and the
Association for the Cannabinoid Industry, the UK's CBD sector trade
body.
Products from investee companies Yooma Wellness Inc. ('Yooma'),
South West Brands Limited ('SWB'), and CiiTECH Limited ('CiiTECH')
have been included in the update by the FSA.
Highlights
-- Portfolio companies Yooma, SWB, and CiiTECH have featured on
the FSA's list of CBD products that may stay on the market in
England and Wales
-- Products which appear on the list are linked to novel food
applications which the FSA already validated or considered that are
sufficiently progressing towards validation
-- The UK becomes one of the first countries to regulate the
sale of CBD products as foodstuff to consumers
Alfredo Pascual, VP of Investment Analysis of SEED, commented: "
We are very encouraged to see the inclusion of a number of our
investee companies' products within the FSA's public list of CBD
products that may stay on the market in England and Wales. The hard
work being carried out by our portfolio companies to meet the UK's
legal and regulatory requirements indicates a high level of level
of commitment to quality and safety, bringing much needed clarity
to consumers.
"We welcome regulatory certainty in the sector and look forward
to further progress as the sector continues to establish
itself."
Further information from the Food Standard Agency can be found
at https://data.food.gov.uk/cbd-products/landing
***ENDS***
For further information on the Company please visit
www.seedinnovations.co or contact:
Ed McDermott SEED Innovations E: info@seedinnovations.co
Lance de Jersey Ltd
James Biddle Beaumont Cornish T: (0)20 7628 3396
Roland Cornish Limited,
Nomad
------------------- -------------------------------
Isabella Pierre Shard Capital T: (0)20 7186 9927
Damon Heath Partners LLP
Broker
------------------- -------------------------------
Catherine Leftley St Brides Partners E: info@stbridespartners.co.uk
Isabelle Morris Ltd,
Financial PR
------------------- -------------------------------
Notes
SEED Innovations is an AIM quoted investment company focused
primarily on disruptive high growth life sciences and technology
businesses particularly within the medical cannabis arena. The
Company's strategy is to identify early-stage opportunities that
have an upcoming investment catalyst and grow its portfolio in
terms of value whilst limiting the number of investee companies to
a level where relevant time can be devoted to each.
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END
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