Studying CBD
No Result
View All Result
  • Home
  • CBD
  • About CBD
  • What is CBD
  • Home
  • CBD
  • About CBD
  • What is CBD
No Result
View All Result
Studying CBD
No Result
View All Result
Home What is CBD

Industrial hemp player stays ahead of the curve with CBD import deal

Peter F. by Peter F.
September 9, 2019
in What is CBD
38 1
0
Industrial hemp player stays ahead of the curve with CBD import deal
32
SHARES
359
VIEWS
Share on TwitterShare on Facebook

[ad_1]


While Australian law does not yet permit the import of CBD products to the general market without the requisite licences, hemp group ECS Botanics (ASX: ECS) is getting ahead of its moment.


The Tasmania-based company has signed an exclusive memorandum of understanding (MoU) with Disruption Labs to distribute, sell and import the company’s hemp-derived CBD dietary supplements.


Disruption Labs owns 100 per cent of subsidiary Reset Bioscience, a CBD company based in Texas which has developed the THC-free organic hemp-derived product.


ECS managing director Alex Keach says the deal positions the company well for the moment CBD products are available legally for general consumption in Australia, or for when ECS acquires the correct licences.


“This is an exciting initiative for ECS. With its nanotechnology formulation, we view Reset’s hemp derived CBD product as unique in a marketplace that is rapidly growing and highly attractive,” says Keach.


While the import of Reset’s products into Australia is not permitted, given CBD is classified as a schedule 4 drug, if ECS is able to obtain the necessary licences under the Australian Special Access Scheme it may be possible for the company to import the dietary supplements.


“However, the legislative framework is uncertain and the parties would not conduct any such activities without obtaining the necessary authorisations and moving forward to a binding agreement,” says ECS.


“Accordingly, the purpose of the MOU is for ECS and Disruption Labs to form a preliminary business relationship, to investigate and exchange information to ensure ECS is best placed to take part in the opportunity to sell, distribute and import CBD products in Australia and the Asia Pacific region in the future (should the legal landscape become more favourable and in the event that ECS can obtain all the necessary licences and permits to meet the relevant legal requirements).”

RELATED  Lack of regulation leaves CBD users on their own - News - The Independent


ECS traditionally works in the field of agribusiness and hemp food, and has the requisite growing and manufacturing licences for hemp. It also has licence applications pending with the Office of Drug Control to cultivate and manufacture medicinal cannabis.


Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.


Business News Australia



[ad_2]

Source link

Tweet8Share13Share3Share
Peter F.

Peter F.

We study the effects of cannabidiol (CBD), a non-psychoactive component of cannabis that does not produce the high associated with smoking or using it."There is a lot of debate on the health effects of marijuana and the use of cannabinoids, which are a group of compounds found in marijuana that have anti-inflammatory, pain-relieving, anti-nausea and anti-emetic properties. However, there is a lack of solid scientific evidence to guide us in the application of cannabis therapeutics."

No Result
View All Result
  • Privacy Policy
  • Contact
  • About us

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. You consent to our cookies if you continue to use our website.. For more information contact Info@sdmediagrp.comContinuePrivacy policy