Canadian cannabis company sets sights on London
A Toronto cannabis company has outlined its ambitions for the UK market with the launch of a new investment platform based in London.
The Supreme Cannabis Company will open Supreme Heights, a platform intended to explore opportunities in the CBD and wellness markets in both the UK and Europe.
Supreme Heights will make investments in high-growth companies in the industries, with a focus on premium CBD offerings.
CBD, or cannabidinoil, is an increasingly popular choice for managing conditions such as chronic pain. It is an active ingredient in cannabis but is widely and legally available in the UK, particularly as an oil or a liquid that is vaped.
By some measures CBD is one of the fastest-growing industries in the UK, with estimates suggesting that there are over 250,000 users of the substance - a figure that doubled in 2017 alone.
Commenting on the launch of Supreme Heights, Supreme Cannabis CEO Navdeep Dhaliwal said: "The rapidly evolving CBD markets in the UK and Europe present compelling investment opportunities given the promising environments for new health and wellness companies to establish differentiated brands and capture meaningful market share.
"Supreme Heights is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space.
"Supreme Heights will benefit from our experience launching some of the most premium cannabis brands in Canada and from the strong leadership and the deep industry connections of our UK partners. We look forward to driving value for Supreme Cannabis shareholders through this investment platform."