EuroLife Brands acquires global rights to portfolio of CBD-infused food products in 75 jurisdictions
EuroLife Brands Inc (CSE:EURO) (OTCMKTS:EURPF) told shareholders on Thursday that it has acquired the global rights to CBD food products in over 75 jurisdictions.
The move bolsters the Toronto-based company’s portfolio of CBD products to include hot sauce, olive oils and other related foodstuffs.
CEO Sean Moniz said that the company’s research showed a “significant market opportunity” throughout Europe for CBD-infused food products.
READ: EuroLife Brands’ top executives return to Europe to close acquisition of largest hemp facility in Germany
“Our first priority is to successfully launch within the European Union and then move to other friendly CBD jurisdictions,” Moniz said in a statement. “We are working towards facilitating a favourable distribution setup as we prepare to take our products to market.”
Eurolife told investors that the CBD food products will be competitive in a growing global market category of sauces, dressings and condiments. Data collected by Global Industry Analysts indicate a current global annual market value of around US$5.2 billion, according to information provided by Eurolife.
Global Industry Analysts also projects the market to grow by US$11.7 billion over the next five years, with Europe adding nearly US$748 million to the region’s value in that time period.
The cannabis company said it plans to leverage its position in Europe to generate sales and capture market share with its new CBD-infused portfolio in cannabis-friendly jurisdictions across the continent.
“More and more countries are recognizing the health and wellness benefits of CBD infused products, creating a significant opportunity for EuroLife,” the company said in a statement.
Shares of Eurolife closed 12.5% higher on Thursday in Canada at nearly C$0.05 and 10% higher over the counter at US$0.03.
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/911417/eurolife-brands-acquires-global-rights-to-portfolio-of-cbd-infused-food-products-in-75-jurisdictions-911417.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).