Codebase Ventures Inc. provides an update to investors on the focus of the Company’s cannabis industry subsidiary as management explores early stage opportunities in the UK and European CBD and medicinal cannabis markets.
“With our leadership team’s deep experience in the cannabis space, we believe that the UK is entering a period of acceptance to CBD and medicinal cannabis that was evident in Canada and North America 5-7 years ago,” said Mr. George Tsafalas, Codebase President and CEO. “That spells opportunity to our team, and on behalf of our shareholders, management and representatives have engaged in meetings in the UK specifically aimed at identifying and investing in early stage companies in the space that can benefit from both our capital and expertise.”
UK CBD and medicinal cannabis highlights:
- UK CBD wellbeing product category estimated to be worth 1B Pounds by 20251
- UK CBD market is larger than the total Vitamin D and Vitamin C market combined1
- It is estimated that 6 million adults have used CBD in the UK1
- 11% of the UK population consumed a CBD product within the last year1
- Support for cannabis legalization amongst CBD users is at 75%1
At this stage of market growth, the Company’s management team is seeking opportunities to invest in brands that have the potential to be market leaders in the minds of consumers, with growth opportunities throughout the UK and European countries with legal frameworks in place.