Cellular Goods plans to launch on the London Stock Exchange.
DB Ventures, an investment firm owned by David Beckham has a stake in the company.
Cellular Goods plans to start trading in September 2021 and is valued at around £20 million (over $27.4 million).
While cannabis remains illegal in the UK, CBD is a legal controlled substance.
The news comes as the British demand for CBD products booms.
A British CBD skincare and athletics nutrition company is making plans to launch on the London Stock Market, the first of its kind on the UK stock exchange to offer shares to investors.
Cellular Goods PLC specializes in “cannabinoid (CBD) products for skin, movement and daily living”, as well as nutritional products that aid athletic recovery. The company produces synthetic CBD in labs rather than sourcing it from the cannabis plant itself.
The company has been valued at £20 million (over $27.4 million) and is projected to make £8m (around $11m) when it starts its retail venture in September 2021.
Where does David Beckham fit into all this?
You might know David Beckham as the successful soccer player who led England into World Cup battles or the hunky man who gets his photo taken in tight white Calvin Klein boxers. Either way, he’s a global star and someone who doesn’t do business to make a loss. He has several established businesses, all profitable in their own right.
Now the man, the myth, and the legend is eyeing the cannabis industry.
Earlier this month Cellular Goods sold a stake to investment firm DB Ventures, which is owned by David Beckham. He is understood to be a believer in the health and wellness properties of CBD, which has enjoyed a boost in demand in the UK during the pandemic.
Alexis Abraham, chief executive of Cellular Goods, said, “We are delighted to be the first pure-play consumer cannabinoid company to list on the LSE” (London Stock Exchange).
“The last few years have seen massive growth and awareness of the importance of wellness and self-care and we believe that cannabinoids will prove to be the king of wellness ingredients,” he added.
The Importance of CBD Companies Being on the Stock Market
To be honest, the greatest part of CBD companies being on the stock market is money. Money drives everything. It allows companies to broaden their product range, innovate new products, and invest in marketing, safety processes, and research and development
Without sufficient funds, CBD brands either sink like the Titanic or simply float along slowly and aimlessly.
We hope Cellular Goods is successful and use the money to build and innovate user-friendly and effective CBD products.
CBD is Legal in the UK but Marijuana Use Remains Restricted
Of the two main parts of the cannabis plant—tetrahydrocannabinol (THC) and cannabinol (CBD)—THC is illegal in the UK, while CBD as an isolated cannabinoid is legal, provided it’s sourced from hemp and not high-THC marijuana.
Studies have shown that strong variants of CBD have proved effective in controlling epilepsy, with some patients reporting a 40% reduction in seizures. However, the UK restricts the strength of CBD sold in the country by limiting each product’s THC content to 1mg, an amount unlikely to cause any intoxication or “high” feeling to the user.
The use of cannabis for medical reasons was legalized in the UK in November 2018, but remains under tight restrictions.
Other Celebrities Diving Into the World of Cannabis & CBD
Jay-Z is a newcomer to the cannabis industry. In 2019, he became Chief Brand Strategist for Caliva, a vertically integrated cannabis supplier, producer, and delivery service located in sunny San Jose, California. Caliva later merged with other Cali-based companies and went under the name TCPO Holding Corp. He became Chief Visionary Officer in late-2020. Now? Jay-Z owns his own cannabis company called Monogram selling a range of artisan cannabis flower and pre-rolls.
The former Grease star has battled cancer three times and puts the success of her third fight down to cannabis and other herbal remedies. With the help of her husband, a renowned health cannabis producer and advocate, she doses a mixture of CBD and THC via an oral tincture named Olivia’s Choice, believing it helps with pain, anxiety, and sleep-related issues.
Mike Tyson is the boxing world’s bad guy who infamously took a bite out of Evander Holyfield’s ear during a championship title match in 1997. Now, he’s a little more on the chill side. So chill, in fact, he’s in an industry that promotes ultimate chill and relaxation. In 2017, he started building Tyson Ranch, a cannabis-centered resort that reportedly makes over $700,000 per year.