The Vancouver company will distribute the 10mg CBD capsule through 841 Holland & Barrett stores
()(OTCMKTS:HRVOF), through its wholly-owned subsidiary Satipharm Ltd, announced Thursday it will distribute their proprietary Satipharm CBD Gelpell capsule in the UK and Ireland.
Harvest One, based in Vancouver, British Columbia, will distribute the 10mg CBD capsule through Holland & Barrett, Europe's largest retailer of nutritional supplements and wellness products.
The product will be sold in 841 Holland & Barrett stores and through the retailer’s website. The first shipment arrived in the UK on Wednesday, according to a statement.
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"This supply agreement is pivotal to our global strategy,” said Harvest One CEO Grant Froese. “Having a European health and wellness leader like Holland & Barrett trust and carry our product shows the investment in our manufacturing standards and commercial strategy is proving a success."
A spokesperson for Holland & Barrett noted that the CBD industry is growing rapidly in Europe, adding that Satipharm’s CBD capsules “give our customers a consistent measurable dose of CBD that can be easily taken throughout their day."
The CBD capsule, which is manufactured in Switzerland, is placed inside a hard gastro-resistant capsule ensuring the release of CBD in the small intestine. The product has undergone Stage I and Stage II clinical trials and is proven to have 30% higher bioavailability than other products on the market, according to Harvest One.
The vast majority of CBD is extracted from hemp, which is a cannabis plant that has trace amounts of THC (0.3% or less when dried), the psychoactive compound that gets people “high.”
Harvest One’s stock recently traded up 1.24% to $0.54 on the OTC markets but was down 1.37% to C$0.72 in Toronto.
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