Almost 6,000 CBD Products Await Approval From UK Gov. Which Now Hold Shares in CBD Co.

The UK Food Standards Agency (FSA) gave preliminary approval to 2,445 new CBD products, reported Hemptoday.

Currently, there are approximately 543 companies listed by the FSA and 5,981 products that have a chance to be authorized.

The original deadline for applications was March 31, 2021, however, in April, the agency reopened the window for companies to apply for authorization of CBD products.

“Over 1,700 new products added to the list relate to applications which had been submitted to the FSA prior to the 31 March (2021) deadline, but which required further evidence from businesses to ensure the products met the public list criteria before they could be added,” the agency noted. “Around 700 products have been added to correct a clerical error.”

Meanwhile, the U.K. government has become a part-owner of a medical cannabis company after another 75 emergency start-up loans made during the pandemic were converted into shares, reported Bloomberg.

The government’s Future Fund, organized during the pandemic to provide finance to established start-ups, declared an equity stake in Grass & Co., a mail-order CBD company whose products are made from hemp.

The program made 1.14 billion pounds ($1.43 billion) of convertible loans to 1,190 companies.

Image via El Planteo.