cbdMD Enters the UK Market with Debut on Amazon UK, Offering High-Quality CBD Solutions for Wellness and Self-Care
Charlotte, North Carolina--(Newsfile Corp. - April 12, 2023) - cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBDpA), one of the nation's leading, highly trusted and widely recognized CBD companies, announces the successful launch of its Novel Food validated premium hemp-derived CBD products on Amazon.co.uk in the United Kingdom ("Amazon UK"). cbdMD gummies, tinctures, and topicals are now available on Amazon UK and qualify for next day delivery through Amazon Prime. The Company is continuing to work to expand our product listing on Amazon UK and anticipate adding to the portfolio in the future.
cbdMD is one of only a handful of companies approved to sell CBD products in the Amazon UK CBD pilot program due to its validated Novel Foods application. Brands approved to sell CBD through Amazon UK are required to pass compliance checks by Amazon and now must have a credible application for Novel Foods Authorization which has been validated by the United Kingdom's Food Standards Agency. cbdMD was one of the first companies to receive validation of our Novel Foods Authorization application and is currently in active Risk Assessment. As of February 2023, a total of 132 products were in active risk assessment, of which 84 products were cbdMD, therefore, over 60% of the products that have made it through the first round of review for the UK government were cbdMD's. This speaks to the quality and safety of the cbdMD product portfolio and the strides that cbdMD has taken to prove this domestically and internationally.
"We are excited about expanding cbdMD's reach beyond our dedicated UK website and making our products more accessible to consumers in the United Kingdom. We believe there is significant opportunity to grow our market share in the UK and joining Amazon's unmatched platform is a big step in driving growth in this market," said Ronan Kennedy, CEO of cbdMD. "This is another example of developing a diverse revenue base that adds new channels and expands our international presence. Our investments in safety, science and efficacy continue to help us expand the brand both at home as well as international markets to win the trust of consumers and retail partners alike," added Mr. Kennedy.
About cbdMD, Inc.
cbdMD, Inc. is one of the leading and most highly trusted and recognized hemp-derived cannabidiol (CBD) brands with a comprehensive line of U.S. produced, THC-free1 CBD products as well as Full Spectrum and Delta 9 THC products. The cbdMD brand currently includes high-quality, premium CBD products including tinctures, gummies, topicals, capsules, sleep aids and more. The Company's Paw CBD brand includes formulated pet products including tinctures, chews and topicals in varying strengths. To learn more about cbdMD and the complete line of products, please visit www.cbdmd.com, or in the UK at www.uk.cbdmd.com, follow cbdMD on Instagram and Facebook or visit one of the thousands of retail outlets that carry cbdMD products.
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified using words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict. You are urged to carefully review and consider any cautionary statements, including but not limited to expectations on our UK business or Amazon UK performance, and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2022 as filed with the Securities and Exchange Commission (the "SEC") on December 15, 2022 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.
1 THC-free is defined as below the level of detection using validated scientific analytical tools.
Ronan Kennedy, Interim CEO & CFO
+1 (704) 445-3064
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162140