Love Hemp Group PLC Announces Response to the Latest FSA Novel Foods Update

Rhea-AI Summary

Love Hemp Group PLC (OTCQB: WRHLF) announced its inclusion in the Food Standard Agency's Public List of CBD products, marking a significant milestone in its regulatory journey. This acknowledgment allows Love Hemp to proceed to the validation stage, ensuring its products meet high-quality standards. The firm has invested over £300,000 in legal and scientific advice during a two-year compliance effort. The FSA's endorsement enhances consumer clarity and positions Love Hemp for growth across various sales channels, including e-commerce and retail.

Positive

• Inclusion in FSA's Public List enables progression to validation stage.
• Investment of over £300,000 for regulatory compliance shows commitment to quality.
• FSA endorsement enhances consumer clarity and confidence.
• Positioning for growth in existing and prospective sales channels.

Negative

• None.

LONDON, UK / ACCESSWIRE / April 1, 2022 / 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 £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."

-ENDS-

For further information please visit: www.lovehempgroup.com or contact:

Love Hemp Group Andrew Male Chairman & Director	+44 (0) 7926 397 675 andrew.male@lovehempgroup.com
Financial PR Tim Blythe/Madeleine Gordon-Foxwell BlytheRay	+44 (0) 207 138 3204 lovehemp@blytheray.com

About Love Hemp Group

Love Hemp Group is a brand-led consumer goods company focussed on health and wellness solutions for consumer use cases including sleep, pain, anxiety, stress and recovery. The Company is a pioneer in the UK-based premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics and topicals. The Company's range of products are sold online across 70 websites and in over 2,000 stores including some of the biggest retailers in the UK, such as Holland & Barrett, Boots and Ocado. Listed on the Aquis Stock Exchange (AQSE: LIFE) the Company recently changed its name to Love Hemp Group plc, from World High Life, to better reflect its focus on supporting the "best in class" CBD brand as it embarks on a wider expansion of its core business and offering.

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SOURCE: Love Hemp Group PLC

View source version on accesswire.com:
https://www.accesswire.com/695624/Love-Hemp-Group-PLC-Announces-Response-to-the-Latest-FSA-Novel-Foods-Update

FAQ

What does Love Hemp Group's inclusion in the FSA Public List mean for its future?

Inclusion in the FSA Public List allows Love Hemp Group (OTCQB: WRHLF) to move to the validation stage, potentially boosting its business operations and market presence.

How much has Love Hemp Group invested in regulatory compliance?

Love Hemp Group has invested over £300,000 in legal and scientific advice to ensure compliance with the FSA's requirements.

What are the implications of the FSA endorsement for Love Hemp's customers?

The FSA endorsement provides clarity and reassurance to consumers regarding the quality and safety of Love Hemp's CBD products.

How is Love Hemp Group positioned for growth after the FSA announcement?

Following the FSA announcement, Love Hemp Group is well-positioned to accelerate growth through various sales channels, including e-commerce and retail.