Elixinol Global Ltd (ASX:EXL) (OTCQB:ELLXF) has been notified by the European Industrial Hemp Association (EIHA) that both full-spectrum and natural isolate products of EIHA’s Novel Food Consortium partners can remain for sale on the UK market.
Both applications have passed the key administrative check by the UK Food Standards Agency (FSA).
Official validation will be granted upon results of toxicological studies on both CBD and THC1, expected in the coming months.
In the meantime, it will be business as usual for Elixinol UK sales.
New opportunities for customer contracts
Elixinol executive director and global chief executive officer Oliver Horn said: “This is excellent news from the UK.
“The FSA’s response means we can continue to operate on a business as usual basis for now, while the toxicological work is being undertaken.
“It removes a short-term risk and will open up new opportunities for customer contracts.
“We will keep the market appraised as this matter develops further over the coming months.”
The FSA had set a deadline of March 31, 2021, for CBD businesses such as Elixinol to submit valid novel food applications to permit the continued sale of CBD products in the UK.
As a partner of EIHA’s consortium, Elixinol’s products are now supported by a valid novel food application.
The FSA had confirmed to EIHA that the applications were considered to be compliant with the administrative requirements.
The official validation will be granted only upon results of the undergoing toxicological studies on both CBD and THC1, expected in the coming months.