Elixinol Global Ltd
Elixinol Global Ltd (ASX:EXL; OTCQB:ELLXF) is a global leader in the hemp-derived CBD industry, researching, developing, marketing and selling Elixinol-branded, hemp-derived full and broad spectrum CBD products.
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Elixinol Global well-positioned for growth on back of positive cannabis regulatory decisions
Elixinol Global Ltd (ASX:EXL) (OTCMKTS:ELLXF) (FRA:E8M) has welcomed recent regulatory decisions that will open new distribution channels for the global hemp CBD company.
On December 3, the United Nations reclassified cannabis as a less dangerous drug, a decision which was shortly followed by a decision reversal from the European Union Commission on Narcotic Drugs, allowing the regulatory pathway for CBD as food.
EXL chief executive officer Oliver Horn said: "This means that in the future we can, through a Novel Foods application process, get CBD distributed through more countries and sales channels."
Luckily, the company already had a European application ready to go in June, which was paused when the EU decided to revisit CBD regulations.
Horn said: "The EU Novel Foods application we had was put on hold and we will now progress that application according to the yet to be confirmed EU timelines which we expect to occur early next year.
