Hemply Balance Holding AB (publ) ("Hemply Balance" or "the Company") updates on the legal progress in the European cannabis market. Last week, the first pilot project in Switzerland was approved for the legalized sale of cannabis to adults in Basel, Switzerland.
Pilot project in Switzerland
The Federal Office of Public Health announced Tuesday last week that it had approved a pilot project that allows the legal sale of cannabis to adults in Switzerland. The project means that around 400 participants will be able to buy cannabis from selected pharmacies. The project aims to obtain information about cannabis users' consumption behavior when they purchase cannabis from legal sales channels. The pilot project is one of many that will take place in Switzerland.
Earlier in April, it was also reported that the UK was opening up to medical cannabis further. Prohibition Partners writes, among other things, that the number of people using medical cannabis in England increased by 425% during the first quarter of 2021 compared to the same period last year. While the use of medical cannabis is growing in the UK, the CBD market is also making significant progress in getting CBD approved as a new food in the UK, as the Company previously reported on: https://hemplybalance.com/press-releases/significant-legal-advances-in-the-cbd-market-enhance-growth-opportunities/
The Company views the development positively
When clear progress is made in the cannabis market, we can see parallel progress in the CBD market, where the prospect is that the EU will approve CBD as a new food. The Company is also optimistic about the development in Switzerland, where Hemply Balance currently retails at over ten well-known stores regarding sales of the Company's CBD products.
The different markets
- Legalization of cannabis use for adults – means legalization so that adult consumers can buy and use cannabis.
- Medical cannabis – means cannabis that a person is prescribed by a doctor in order to, for example, alleviate a disease condition.
- The CBD Market – CBD is one of over one hundred cannabinoids. CBD is extracted from industrial hemp and marketed in dietary supplements and beauty products, among other things. The company is active in this market and works with other cannabinoids such as CBG and CBN. The company's products are completely free from THC, and the CBD market should not be confused with the markets above, even if it is nearby markets.
"We look with confidence at the positive development that is currently taking place in Europe. The market is maturing at the rate we have calculated, which is favorable for the entire industry as reforms contribute to a clearer game plan for companies and consumers," says Jonas Lenne, CEO of Hemply Balance.
For further information, please contact:
About Hemply Balance Holding
Hemply Balance Holding AB (publ) owns two brands, Hemply Balance and Hemp Juice. The company is a health and wellnes company that developing, manufacturing, and commercializing innovative, safe, and high-quality products in three categories: dietary supplements, dietary supplements for pets, and beauty products. The focus is mainly on CBD and Adaptogens products and adds what we call "The Missing Ingredient." Commercially, the company prioritizes its e-commerce through its brands, Hemply Balance and Hemp Juice, with elements of strategic resellers and distributors. The company primarily addresses the European market, however, also with elements from the Japanese market. The Company is listed on NGM Nordic SME in Stockholm.
Augment Partners AB, tel. +46 8 604 22 55, e-mail: firstname.lastname@example.org is the Company's Mentor.
For more information, see the Hemply Balance website www.hemplybalance.com
 The First Sales of Legal Adult-Use Cannabis in Europe Are Due in 2022. Prohibition Partners: https://prohibitionpartners.com/2022/04/28/the-first-sales-of-legal-adult-use-cannabis-in-europe-are-due-in-2022/?utm_campaign=TECR7&utm_medium=email&_hsmi=60140397&_hsenc=p2ANqtz-_LtqjwWuZaj9eZCr3AQf5ROLCtjN-8FzU5LhHcT__YBu3Sy6gUslIH32O2mLj7TzaQOkjQxp6ETzbvqLgQmklfh0vSo5WTBciyAcb89Qo9TqWmqOE&utm_content=60140397&utm_source=hs_email
 The UK Is Opening Up to Medical Cannabis. Prohibition Partners: https://prohibitionpartners.com/2022/04/14/the-uk-is-opening-up-to-medical-cannabis/