CHARLOTTE, N.C.–(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.
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.