Connect with us

CBD

ACMD releases new advice on THC levels in consumer CBD products

The report suggests that the dose of each cannabinoid should not exceed 50 micrograms.

Published

on

Study finds CBD mislabelling taking place in US industry

A new report from the Advisory Council on the Misuse of Drugs (ACMD) has outlined its recommendations to the UK Government on establishing guidelines for the CBD industry

The ACMD published its recommendations for the appropriate levels of THC in individual servings of CBD, on Friday 17 December.

It has suggested that the dose of each controlled phytocannabinoid ‘should not exceed 50 micrograms per unit of consumption’,

The current limit is set as 0.2 or 0.3 per cent per serving of CBD, although many have debated that this is too low, with some other European counties already introducing a 0.05 per cent limit, such as the Netherlands.

Now, in the new report, the ACMD has said that an increase to 0.05 per cent was ‘unlikely to produce any harmful effects.’

It went onto suggest there may be a need for additional testing around the area of vaping to determine if CBD could, at extreme heat, be converted into THC.

The report follows the establishment of a working group by the ACMD to examine the appropriate levels of THC in products as well as advise the government on establishing a legal framework for CBD products.

The group consulted CBD industry professionals, analytical laboratories, reviewed literature and issued a public call for evidence. They also sought information regarding testing from the Government Chemist’s Team and Defence Science and Technology Laboratory.

The result was a series of recommendations including the THC-level increase. The report also noted that setting a single concentration limit to all consumer CBD products would not be appropriate.

Dr Parveen Bhatarah, regulatory and compliance lead at ACI  and CBC, met with the ACMD and consulted on the report.

Speaking with Cannabis Wealth, she said the ACMD has gone beyond what she was expecting.

“ACMD’s report released today is certainly a step in the right direction. I am so pleased that the ACMD team have accepted all our ACI recommendations, touching analytical, manufacturing, environmental and economic aspects of the CBD industry,” Dr Bhatarah commented.

Although she added that the ACMD has not clarified what the maximum dosage allowed should be.

“Speaking as a scientist, the limit of 50µg for Delta-9THC (combined with THA) in a single-serving of CBD consumer product needs little more clarity, as it could be open to misinterpretation without a maximum per day limit or similar,” she said.

“However, I do agree it has to be taken into account, with the maximum daily limit of no more than 70mg per day for CBD by FSA.”

Look out for further insight and reaction from the industry via Cannabis Wealth next week.

CBD

Swiss CBD investment company secures £26.23m funding

Pharma Tech Holding has obtained a capital commitment agreement from LDA Capital.

Published

on

Swiss CBD investment company secures £26.23m funding
Home » News » ACMD releases new advice on THC levels in consumer CBD products

Pharma Tech Holding SA has secured a CHf30m (£26.23m) investment from global investment group LDA Capital Ltd – with expertise in cross-border transactions including the agriculture, Agri-tech, and CBD industries – which will support its portfolio investments.

Pharma Tech Holding SA invests in innovative businesses with high technological value and scalability potential, mainly in Switzerland and Europe, with a focus on the health-tech, agri-tech, and functional food.

The CHf30m investment from LDA Capital will allow the company to invest and support its portfolio company Blue Sky Swisse SA, which focuses on the extraction of natural active principles from vegetable matrices, vegetable waste, and renewable sources to deliver B2B products under the form of CBD oil, terpenes and waxes. 

Read more: New cannabis-themed ETF launches

The factory, located in Biasca, will be built with state of art of extraction technology using supercritical CO2, and will be self-sufficient through the use of solar photovoltaic panels and district heating. 

CEO at Pharma Tech Holding, Sabina Del Nigro, commented: “We’re thrilled with this partnership and are so glad that LDA Capital recognises the value of Pharma Tech Holding and its portfolio company, with the aim of creating one of the most innovative hubs for health-tech, agri-tech and functional food.”

Blue Sky Swisse will make high-quality CBD due to a proprietary extraction process, starting from the farming, performed under strict control and culminating with the immediate freezing of the flowers after harvest. 

It will also sell “all natural” formulations to increase bioavailability and will invest in the agricultural raw material chain, as well as creating an aeroponic greenhouse in Ticino, to deliver a high-quality GMP pharmaceutical CBD oil.

LDA Capital agreed to commit an amount of up to CHf30m in cash within a maximum of three years. This Capital Commitment will be released based on drawdowns by Pharma Tech Holding, which Pharma Tech Holding has the right to exercise at its sole discretion.

Continue Reading

CBD

Tenacious Labs acquires CBD pet company Rover’s Wellness 

The acquisition is part of Tenacious Labs buy-and-build strategy.

Published

on

Tenacious Labs acquires CBD pet company Rover’s Wellness 
Home » News » ACMD releases new advice on THC levels in consumer CBD products

Tenacious Labs has diversified into the pet care market with the acquisition of Rover’s Wellness, which specialises in THC-free CBD.

Tenacious Labs has stated that the acquisition of Rover’s Wellness represents an important milestone in its strategy to become a leading consumer products group globally.

The acquisition sees the group diversify into the high-growth pet care market for the first time. CBD pet care, according to Prohibition Partners, is expected to see global sales of products reach $424.4m (~£350.83) by 2024, representing a CAGR of 18.6 per cent.

Read more: Tenacious Labs to move headquarters to Jersey

As part of the acquisition, RaChelle Baca-Lobre will join Tenacious Labs as global director of sales – pet division and CPG wholesale and private label. Tenacious has stated that Baca-Lobre’s personal passion for CBD-enriched pet care, as well as her experience in managing a fast-growing brand, will prove invaluable for the Group as it looks to scale up its pet care division over the coming months.

Read more: Tenacious Labs CEO discusses its acquisition of Press Pause

 CEO and co-founder of Tenacious Labs, Nicholas Morland, commented: “We are delighted to welcome RaChelle and her team to Tenacious Labs. 

“Since launching in 2018, Rover’s Wellness has grown rapidly, launching genuinely market-leading products which have been well received by customers across the US. This acquisition will enable us to kick-start our pet care division, while combining RaChelle’s expertise and Tenacious Labs’ high quality manufacturing capabilities to significantly scale up Rover’s Wellness. 

“We look forward to working with her closely over the coming months and years.

Tennessee-based Rover’s Wellness creates high quality products containing all natural, non-GMO ingredients including 100 per cent certified organically grown hemp. The company was founded by Baca-Lobre in 2018 after her own pet was diagnosed with cancer. Rover’s Wellness offers a range of oils, topical salves and treats which use CBD to support joint flexibility and mobility, ease anxiety and promote positive long-term health for dogs, cats and equine.

A core part of the brand’s approach is its commitment to testing and transparency. Leveraging a “seed to sale” approach, Rover’s Wellness works directly with growers and uses state-of-the-art nano technology to extract CBD before purity testing. 

Each batch is tested by a certified industrial hemp laboratory, both before and after production, with all lab-results published on its website. This process ensures that none of Rover’s Wellness products contain THC – the psychoactive ingredient in cannabis which is harmful to animals.

Baca-Lobre said: “I am excited to join Tenacious Labs, a group which reflects my desire to create safe, natural and quality products, underpinned by third-party laboratory testing. 

“We have enjoyed great success to date, and I believe that by harnessing Tenacious Labs’ best-in-class manufacturing facilities, marketing expertise, and operational support, we can unlock more exciting growth opportunities for Rover’s Wellness and the group’s broader pet care division.”

Tenacious Labs has now completed three acquisitions since launching 12 months ago, including female-focused CBD brand Press Pause and high-quality white-label manufacturer SZM LLC — now operating as TL Manufacturing. The group has also continued to expand, now employing 35 people around the world as it looks to scale up.

Continue Reading

CBD

SEED Innovations ramps up investment in South West Brands

The company has now invested a total of £500,000 in South West Brands.

Published

on

SEED Innovations ramps up investment in South West Brands
Home » News » ACMD releases new advice on THC levels in consumer CBD products

SEED Innovations has invested a further £50,000 in CBD company South West Brands Limited.

The investment by SEED Innovations has been made as part of a funding round by London-based South West Brands to raise up to £1m. 

Focusing on making investments in the medical cannabis, health and wellness spaces, Guernsey-based SEED Innovations made its last investment in South West Brands of £150,000 in 2021, bringing its toady investment in South West Brands to £450,000.

Read more: All female-led South West Brands to list on London Stock Exchange

South West Brands, which recently saw its Botanic Lab drinks and supplements added to the UK Food Standard Agency list of CBD products permitted to stay on sale in England and Wales, has recently had two of its products listed in major UK retailers. 

Its LoveMeMeMe brand is now stocked in Asos and its FEWE brand will be stocked in Superdrug from September.

CEO of SEED, Ed McDermott, commented: “We have seen some considerable progress made by the team at South West Brands over recent weeks with the launch of their two brands for sale in to Superdrug stores and online at ASOS. 

“The products have received a fantastic reception by consumers in what is fast becoming a burgeoning FemTech sector where South West Brands are leading the charge.

“Generating early revenues, with the products now increasingly available, we anticipate seeing a fast uptick in wholesale sales which will further lead to additional product development and hopefully support for the products availability outside of the UK.

“We are pleased to continue to support Rebekah Hall and her team as they build a credible, sustainable and scalable wellness business developing and commercialising their brands.”

CEO of South West Brands, Rebekah Hall, said: “The progress SWB has made in the short time since launch is just the beginning of where we believe our brands can reach. In particular, we are at an exciting juncture in the provision of female wellness solutions with increased awareness infiltrating mainstream audiences and building commercial traction with mainstream retailers. 

“With further funding in place, including the support from SEED, we look ahead to continued growth in the UK as well as commercial opportunities in other markets, including the US. “

The investment is by way of a three year, 8 per cent Convertible Loan Note (CLN), and SEED has agreed to convert £50,000 of the 12 month, 8 per cent CLN subscribed for in July 2021 into this three year, 8 per cent CLN.

Continue Reading
Sign up for the Cannabis Wealth newsletter

Recent Posts

[class^="wpforms-"]
[class^="wpforms-"]