cbdMD Seeks To Obtain Regulatory Approval From United Kingdom’s Regulatory Food Safety Agency (FSA)
November 05 2020 - 9:20AM
Business Wire
cbdMD, Inc. (NYSE American: YCBD, YCBD.PR.A), one of the
nation’s leading and most highly trusted and recognized cannabidiol
(CBD) brands, confirmed today that it is on track to submit its
Novel Foods Dossier with the United Kingdom’s Food Safety Agency
(FSA) by the required regulatory filing deadline of March 31,
2021.
“By allowing CBD product manufacturers to obtain a Novel Food
Authorization from the FSA, the UK is now leading the world in CBD
regulation. cbdMD believes it’s in a unique position to demonstrate
the safety of its products to the FSA and therefore we believe will
be one of the few CBD companies that will be allowed to continue to
sell their CBD products on UK’s retail store shelves after the
March 31, 2021 deadline. We know that major UK retailers have
delayed new CBD product introductions until CBD brands are cleared
by the FSA. cbdMD believes if it is successful in obtaining FSA
approval, it will have a competitive advantage and therefore a
significant opportunity for brand expansion in the UK market. We
believe that the expected successful completion of this regulatory
approval process provides cbdMD a valuable tool as we continue to
prepare for other regulatory approvals around the world,” said
Chief Marketing Officer, Ken Cohn.
cbdMD is working in conjunction with a leading food safety and
regulatory consultant in the UK to prepare the dossier which will
include detailed analysis of the quality and stability of our
product, our hemp sourcing and extraction controls, our labelling
and testing requirements, and the underlying intake and
toxicological data related to the safe consumption of the
proprietary cannabinoid blend ingredients in our cbdMD product
line. cbdMD believes this step is important as a precursor for its
preparation of its EU and FDA NDIN submissions.
About cbdMD, Inc.
cbdMD, Inc. is one of the leading, most highly trusted, and most
recognized cannabidiol (CBD) brands, whose current products include
CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD bath
bombs and CBD pet products. cbdMD is also a proud partner of
Bellator MMA and Life Time, Inc., and has one of the largest
rosters of professional sports athletes who are part of “Team
cbdMD.” To learn more about cbdMD and our comprehensive line of
over 100 SKUs of U.S. produced, Non-THC1 CBD products, please visit
www.cbdMD.com, follow cbdMD on Instagram and Facebook, or visit one
of the 6,000 retail outlets that carry cbdMD products.
1 Non-THC is defined as below the level of detection using
validated scientific analytical tools.
Forward-Looking Statements
This press release contains certain forward-looking statements
that are based upon current expectations and involve certain risks
and uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of words such as ''should,'' ''may,''
''intends,'' ''anticipates,'' ''believes,'' ''estimates,''
''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and
''proposes.'' These forward-looking statements are not guarantees
of future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
You are urged to carefully review and consider any cautionary
statements and other disclosures, including the statements made
under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on
Form 10-K for the fiscal year ended September 30, 2019 and Part II,
Item 1A. Risk Factors appearing in its Quarterly Report on Form
10-Q for the period ended June 30, 2020, both as filed with the
Securities and Exchange Commission (the "SEC") and our other
filings with the SEC. All forward-looking statements involve
significant risks and uncertainties that could cause actual results
to differ materially from those in the forward-looking statements,
many of which are generally outside the control of cbdMD, Inc. and
are difficult to predict. cbdMD, Inc. does not undertake any duty
to update any forward-looking statements except as may be required
by law. The information which appears on our websites and our
social media platforms, including, but not limited to, Instagram
and Facebook, is not part of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201105005666/en/
PR: cbdMD, Inc. Lauren Greene
Communications Specialist Lauren.Greene@cbdMD.com (843)
743-9999
Investors: cbdMD, Inc. John Weston
Director of Investor Relations John.Weston@cbdMD.com (704)
249-9515
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