High Tide Inc., a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that its UK-based subsidiary, Blessed CBD, has been included in the Food Standards Agency’s (FSA) public list of cannabinoid (CBD) products permitted for sale to consumers. This is a key milestone on Blessed’s path to full authorization, expected no later than 2023, and cements its position as one of the UK’s most popular and compliant CBD brands. Only those products included on the list have been authorized by the FSA to stay on the market, in line with the UK’s Novel Food requirements.
According to the Association for the Cannabinoid Industry (ACI), “the UK is now the second largest market for consumer CBD, behind only the US,” with total sales of £690 million in 2021,” representing a doubling since 2019.1
“This compliance milestone solidifies Blessed’s position as a leader within the regulated UK CBD market, and comes on the heels of its recent entry into Germany, the EU’s largest cannabis market,” said Raj Grover, President and Chief Executive Officer of High Tide. Both of these milestones further validate our strategy of pursuing diversified revenue streams both from a product and geographic perspective,” added Mr. Grover.
“Our inclusion on the FSA public list is a major milestone for Blessed and is a tribute to the hard work put in by our team to meet rigorous compliance requirements,” said Vithurs (V) Thiru, Founder of Blessed CBD. “With this news, UK consumers can rest assured that they will continue to have access to our top rated hemp-derived CBD products, added Mr. Thiru.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 113 current locations spanning Ontario, Alberta, Manitoba, and Saskatchewan. High Tide was featured in the third annual Report on Business Magazine’s ranking of Canada’s Top Growing Companies in 2021 and was named as one of the top 10 performing diversified industries stocks in the 2022 TSX Venture 50™. The Company is also North America’s first and only cannabis discount club retailer, featuring Canna Cabana, Meta Cannabis Co., and Meta Cannabis Supply Co. banners, with additional locations under development across the country. For more information about High Tide Inc., please visit www.hightideinc.com.
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1 Source: ACI press release March 31, 2022 |
ABOUT BLESSED CBD
Enigmaa Ltd., operating as Blessed CBD, is one of the leading online retailers of hemp-derived CBD products in the U.K. The company provides a hemp-derived CBD marketplace with a wide variety of high-quality products and formulas, affordable pricing, rapid dependable shipping, and surprisingly personable customer service. Blessed CBD has been featured as the best UK CBD brand in several publications including The Mirror, Reader’s Digest, and Maxim Magazine.
