Conquering a nascent cannabis market can be difficult, both for investors and for cannabis companies, but World High Life PLC (NEX:LIFE) brings decades of experience from the North American market and applies it to the burgeoning European cannabis sector.
Emblem Cannabis Corp., a wholly-owned subsidiary of Aleafia Health Inc. (TSX: ALEF, OTC: ALEAF, FRA: ARAH) (“Aleafia Health” or the “Company”), has secured two license changes from Health Canada to increase processing capacity and enable the sale of new cannabis product formats at its processing facility in Paris. The changes apply to the licensed and operational site in Paris, where all of the company’s extraction, packaging and order fulfillment is performed for both Canadian and international distribution.
As a result of the license changes, Emblem Cannabis Corp is now authorized to manufacture and distribute new cannabis product formats and has licensed production space to do so. “These license changes are well timed, increasing the versatility of our Paris facility while ensuring that we can move immediately to the production of new cannabis 2.0 formats,” said Geoffrey Benic, CEO of Aleafia Health. “The additional processing capacity will also allow us to accelerate the production of hemp oil-based products from our latest outdoor crop.”
The first license change increases the company’s ability to produce finished cannabis products by approving work such as extraction, packaging and labeling in four rooms that were previously only approved for cannabis cultivation. The change doubles the licensed processing area of the Paris plant. The second license change allows the company to produce and sell food, topics and extracts for the Canadian market.
Following the issuance of the amended license and completion of the relevant application, Health Canada has submitted its Site Evidence Package (the “SEP”) for the Phase 2 expansion of its Paris processing facility. In the final phase of the Company’s application for a license change regarding the planned expansion, the SEP clarifies that the facility is operational and meets all Health Canada requirements.
The Phase 2 expansion in Paris, a 30,000 square foot facility, is entirely focused on the extraction, production, packaging and distribution of high-margin, value-added cannabis health and wellness products. The extension has been specifically designed to meet the European Union’s Good Manufacturing Practices (“EU-GMP”) certification requirements.
EU-GMP certified facilities have the highest level of pharmaceutical quality and the assurance of certification (together with applicable import and export permits) will enable Aleafia Health to start exporting medical cannabis products to the European Union market.
Because the North-American cannabis market becomes increasingly crowded and there are major issues regarding the oversupply in Canada, more and more investors and cannabis companies are eyeing the burgeoning European cannabis market.
World High Life – the expert in conquering new frontier markets
World High Life PLC (NEX:LIFE) is a UK-based investment cannabis company, founded by two experienced North-Americans, the owners of the successful companies Supreme Cannabis (TSX:FIRE) and 1933 Industries (CSE:TGIF). The founders of WHL have decades of experience in the cannabis business and now bring their know-how to the nascent European cannabis market.
WHL’s main focus is to identify and acquire cannabis companies from the UK and other European countries with the potential to become dominant players within a few years. In this regard, World High Life has just acquired UK’s leading CBD company Love Hemp Ltd. in a transaction valued at 9 million GBP.
Love Hemp produces a variety of CBD products such as sprays, vapes, oils, edibles, CBD-infused beverages, and cosmetics and sells its products in 1,200 UK high street stores. Additionally, the company has groundbreaking partnerships with big networks such as Boots, Tesco, Superdrug and Sainsbury’s. With Love Hemp, WHL plans to expand into other European markets, starting with Germany in 2020.
Investors have the unique opportunity of investing in a portfolio of top cannabis companies, by purchasing a single stock. The European cannabis market will soon become one of the most valuable cannabis sectors in the world, and World High Life is set to dominate it. The company offers a second chance to investors who missed out on the Canadian boom.