RE: RNS1 Apr 2022 10:44
Love Hemp Group PLC
("Love Hemp", the "Group", or the "Company")
Love Hemp responds to the latest FSA Novel Foods update
Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), the brand-led consumer goods company focussed on CBD health and wellness solutions, is pleased to announce that it has been included on the latest update from the Food Standard Agency's ("FSA") Public List of CBD products, enabling Love Hemp to progress through to the validation stage in due course.
Love Hemp has worked hard to ensure that our products are of the highest quality standards and meet all requirements as stipulated by any regulatory body. The FSA's latest Public List endorses all of our submitted products and enables Love Hemp to continue to trade legally. Importantly, the FSA's decision also provides clarity for consumers.
Love Hemp had submitted multiple individual products at the beginning of this process, two years ago, and has invested initially over Β£300,000 to ensure it received the best legal and scientific advice for a successful application. As part of the manufacturing and production process, Love Hemp is one of the few brands with an in-house Quality Assurance team which gathers and catalogues invaluable product and study data to ensure quality control.
Yesterday's announcement from the FSA confirms that Love Hemp is well positioned to accelerate its growth plans with existing and prospective sales channels, high street retailers, business to business, alongside our own e-commerce platforms, direct to consumer.
We are happy to provide any further detail that may be requested by the FSA and look forward to the next stages of this process. We also echo our congratulations to the other CBD brands that have been included on the FSA's Public List.
Adam Pritchard, Chief Commercial Officer of Love Hemp, said: "We note today's update from the FSA and are delighted with the results. As an award-winning and trusted CBD brand we have always been committed to creating the highest quality, 100% natural, products. The CBD industry in the UK has been largely unregulated, resulting in a lack of clarity for our consumers and we welcome progress made to date by the FSA. We continue to work closely with the FSA and look forward to the next stage of the process, proceeding to validation followed by full approvals."
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