Goodbody Health Subsidiary Granted UK Home Office Controlled Drugs Licence
Goodbody Health Inc. (CSE:GDBY)(OTCQB:GDBYF) announced that its subsidiary, PhytoVista Laboratories, has received a controlled drugs licence to manage Schedule 1 Controlled Drugs. This development follows UK regulatory efforts aimed at enhancing the cannabis product testing framework, moving towards a fully compliant market. PhytoVista is among a select group of UKAS-accredited labs allowed to perform these activities. CEO Geremy Thomas highlighted the significance of this achievement in promoting a reliable consumer cannabinoid market.
- PhytoVista Laboratories awarded a controlled drugs licence for Schedule 1 Controlled Drugs, enhancing regulatory compliance.
- PhytoVista is one of a few labs accredited by UKAS for specialized cannabinoid product testing, indicating strong industry positioning.
- The announcement aligns with UK authorities' initiative to create a trusted consumer cannabinoid industry.
- None.
VANCOUVER, BC / ACCESSWIRE / April 11, 2022 / Goodbody Health Inc. (CSE:GDBY)(OTCQB:GDBYF) ("Goodbody Health" or the "Company") is pleased to announce that its subsidiary, PhytoVista Laboratories, has been granted a controlled drugs licence that allows the company to handle up to Schedule 1 Controlled Drugs. This comes as the UK authorities look to the regulation of the UK consumer cannabinoid product testing infrastructure ahead of wider compliance within the industry.
The FSA have released the list of products associated with a credible Novel Food application and we expect the industry to continue to move to a fully regulated market that the Consumer can trust.
PhytoVista is one of a small number of laboratories accredited by the UK National Accreditation Service (UKAS) with extended provisions to carry out these specialist activities.
Geremy Thomas, Executive Chairman, said: "After significant hard work and investment, we are delighted to be recognised and awarded this highly controlled and regulated licence. PhytoVista continues to be a material part of the Government's commitment to create a compliant, consumer cannabinoid industry."
The Directors of the Company accept responsibility for the contents of this announcement.
On behalf of the Board of Directors,
| Marc Howells Chief Executive Officer Goodbody Health Inc. +44 (0) 20 7971 1255 enquiries@goodbodyhealth.com www.goodbodyhealth.com | Anne Tew Chief Financial Officer Goodbody Health Inc. +44 (0) 20 7971 1255 enquiries@goodbodyhealth.com www.goodbodyhealth.com |
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release. This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Goodbody Health's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" "plan is" or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur", "will be achieved" or "shortly". The forward-looking information and forward-looking statements contained herein include, but are not limited to: UK authorities looking to the regulation of the UK consumer cannabinoid product testing infrastructure ahead of wider compliance within the industry; the expectation that the industry to continue to move to a fully regulated market.
Although Goodbody Health believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. This is due to the fact Novel Food application leads to the industry moving to a fully regulated market that leads to future demand for this service.
Goodbody Health does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
SOURCE: Goodbody Health Inc.
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FAQ
What is the significance of Goodbody Health's subsidiary receiving a controlled drugs licence?
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