- High Tide (HITI) welcomes Health Canada’s decision to begin consultations on a regulatory framework to permit cannabidiol as a medicinal ingredient in certain health products
- The consultation will seek input on regulatory or policy changes pertaining to non-prescription health products containing CBD
- High Tide boasts having an extensive experience in the international CBD sector
- High Tide Inc. (HITI) is unchanged trading at $1.83 per share as of 1:31 p.m. ET
High Tide (HITI) welcomes Health Canada’s decision to develop a regulatory framework to permit cannabidiol as a medicinal ingredient in certain health products.
The consultation will seek input on regulatory or policy changes pertaining to non-prescription health products containing CBD, including those intended for human use and/or animal use.
The decision to begin consultations followed the release of a Health Canada report detailing research-informed recommendations to permit the sale of non-prescription CBD products in certain over the counter settings.
“I am encouraged to see that Health Canada is taking these long-awaited steps towards the creation of regulations which will allow Canadian consumers to safely access non-prescription health products containing CBD… we have since been surpassed by numerous countries including the U.K., U.S., and Australia in making non-psychoactive CBD health products more broadly accessible to consumers,” Raj Grover, President and CEO of High Tide, said.
Grover believes this has prevented Canadian companies from capitalizing on growth opportunities related to CBD, possibly driving consumers towards alternative, unregulated sources of CBD.
High Tide boasts extensive experience in the international CBD sector as it provides global consumers access to safe, high-quality products.
“Our U.K.-based subsidiary, Blessed CBD, serves consumers in Germany and the U.K. through its e-commerce platform as well as through Amazon U.K., while our Wisconsin-based subsidiary FAB CBD sells hemp-derived CBD products for both human and pet use through its popular e-commerce platform in the U.S.,” Grover said.
High Tide Inc. (HITI) is unchanged trading at $1.83 per share as of 1:31 p.m. ET.