The New Leaf Opportunities campaign has today made two major announcements including news that CBD company Ciitech has joined the campaign as a partner.
The company joins the campaign alongside current partners Volteface, Ince, Kanabo, Spinnaker Opportunities & Hanway Associates.
CiiTECH is a cannabis company that focuses on discovering, developing and commercialising cannabis products for wellness markets. Their flagship product Provacan is widely available in the UK and across Europe.
The group also released details of the campaign’s first event, taking place virtually on the evening of Thursday, January 28th. Attendees will hear from all campaign partners and it is expected that further details around the aims and objective of the campaign will come to light. A keynote speaker is due to be announced in the coming days.
The coalition spans expertise in policy, law, markets, cannabis consultancy and innovations in the CBD sector. The campaign is highlighting the economic benefits of investment in the UK, with the FCA recently announcing that cannabis companies will be allowed to list on the London Stock Exchange.
Speaking at length about the New Leaf Opportunities campaign, CEO Clifton Flack said: Ciitech is delighted to join the New Leaf Opportunities campaign, which is doing fantastic work in highlighting the benefits of investment, both foreign and domestic, in the medical cannabis and CBD space.
As we face economic turmoil off the back of Covid and Brexit, the Treasury should be looking towards emerging industries such as CBD and medical cannabis. On the path to economic recovery these industries provide not only as a source of taxable revenue, but to provide jobs in the wellness sector, increase access for patients and improve product quality for consumers.
Speaking about the scope of the opportunity, and the unique situation of the UK post Brexit, Flack continued:
The CBD market alone in the UK has been estimated by Savills to currently be worth £300 million per year, with this rising to £1 billion by 2025. New Leaf Opportunities wants to capitalise on this growth and drive business through this country.
The UK has an advantageous position given the regulatory clarity given by the FSA around CBD, starting on March 31st. By coupling robust compliance with smart investment in strong brands, the UK can steal a march on the EU and other competitors in the global industry.
Discussing reasons for joining the campaign, Flack highlighted an interest in developing innovations in the sector and firmly believes that further investment in the space will improve patient and consumer experience.
Investment in the cannabis space will also accelerate exciting innovations, with further finance allowing companies to investigate a variety of potential medicinal uses of CBD through improved research and development.
This campaign is rightfully calling on the government to make the United Kingdom a central hub for cannabis companies to operate in, opening a new leaf of economic opportunities in 2021.
The campaign has released details of their first public event, due to take place on the evening of Thursday, January 28th. Further details and free tickets can be found via this link.
This piece was written by Ant Lehane, Head of Communications at Volteface.