Sativa Wellness Group is a dual-listed CBD group, with a listing on both the London Aquis Stock Exchange and the Canadian Securities Exchange #SWEL. London South East were joined by CEO Henry Lees-Buckley, and he gave us an overview of his own Sativa business and the cannabidiol wellness and medicinal markets. If you are interested in finding out more about the CBD sector watch this interview as Henry gives us a very good primer.
"The CBD market in the UK is still reasonably immature although its beginning to gain traction over the last three or four years. It's no surprise if I say that North America and the US in particular is well ahead of us where it is a very well known and accepted product, and the regulatory environment is beginning to adapt to it in the uk.
And the difference between hemp and marijuana-based CBD products? "Hemp is part of the cannabis family and is low in THC, the psychoactive component in marijuana. So hemp is typically low in THC and marijuana higher. THC is typically a controlled substance as it is in the UK here , and all of our products are THC-free. We have a scientifically-based process to ensure no THC.
The UK's Food Standards Authority is launching a Novel Foods accreditation process in March 2021, which includes CBD products. This is welcomed by Sativa. "We have designed our company to take the regulatory high road, to comply with all the regulatory requirements, unlike many of our competitors. We have been working with the Home Office from day one and have a low THC growing licence for hemp. We actually have a high THC licence to grow high THC for medicinal marijuana for the research project we have with Kings College in London.
"We embrace that because it requires companies to have quality control of their product and be compliant for things such as THC. You may be surprised to hear that there are products out there which have far too much THC in it, and others which are advertised as CBD which have very little or no CBD in it. The industry is evolving and we are adapting to it - having always taken the regulatory high road. We have a host of products in the process and see higher regulation as a very good thing indeed."