Toronto, Ontario, Canada, April 01, 2022 (GLOBE NEWSWIRE) -- Yooma Wellness Inc. ("Yooma") (CSE: YOOM, AQSE: YOOM), a global vertically integrated wellness platform that develops and markets a portfolio of CBD and wellness brands, is pleased to announce that the Company's wholly owned subsidiary, Vitality CBD and its extensive product range have successfully been published on the UK Food Standard Agencies (FSA) Novel Foods approved list for CBD.
The increased compliance in the sector is welcomed by the company, which helps ensure that only fully compliant products are available for purchase. Those not included on the FSA’s CBD Novel Food register will subsequently have to be taken off sale in the UK.
Phillip Glyn, Commercial Director of Vitality, said: “After 18 months of work and investment, Vitality CBD is delighted and proud to be included on the Novel Food Public List. It is an important milestone for the company and will add further credibility to being one of the most trusted CBD brands in the UK.”
Jordan Greenberg, CEO of Yooma, said: “Yesterday’s update by the FSA is welcome news and moves us ever closer to receiving full authorisation for Vitality’s products. Yooma’s position as a vertically-integrated manufacturer and distributor of CBD products means we are well placed to capitalise on the growing demand for these products across the UK and Europe. We look forward to receiving the results of the toxicology report and updating shareholders on our further progress.”
About Vitality CBD Limited
Vitality CBD is the most widely stocked brand of CBD in the UK with products distributed in national retailers such as Boots, Tesco, ASDA and Lloyds Pharmacy. Vitality CBD is also prominent on E-commerce retailers such as Amazon, eBay, Very & Ocado. The Vitality CBD product portfolio has over 60 SKUs including oils and sprays in a wide range of flavours and strengths, edibles, and a specially developed and formulated range of CBD skin care cosmetic products.
About Yooma Wellness Inc.
Yooma's mission is to build a vertically-integrated global leader in the manufacturing, marketing, distribution, and sale of wellness products including hemp seed oil and hemp-derived and cannabinoid (CBD) ingredients. The company leverages strategically curated sales channels and ecommerce networks to deliver a diverse mix of wellness products through operating subsidiaries in the United States, United Kingdom, France and Japan. Learn more at www.yooma.ca.
Media Contact:
Jordan Greenberg
Email: jgreenberg@yooma.ca
Phone: 1-512-823-1678
Notice regarding Forward Looking Statements
All information included in this press release, including any information as to future financial or operating performance and other statements that express management’s expectations or estimates of future performance, other than statements of historical fact, constitute forward-looking information or forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws and are based on current expectations, estimates and projections. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans relating to the future. Wherever possible, words such as “will”, “growing” or the negative of these words or other variations thereof, have been used to identify such forward-looking statements. Specific forward-looking statements include, without limitation, all disclosure regarding the potential impact of being listed or not listed on the FSA’s CBD Novel Foods register, and the anticipated growth in demand for CBD products in the UK and across Europe.
There are many risks and uncertainties that may affect forward-looking statements including, among others, regulatory risk in each jurisdiction in which Yooma and its subsidiaries do or intend to operate; the uncertainties, effects of and responses to the COVID-19 pandemic; reliance on licenses; competition; dependence on senior management and key personnel; general business risk and liability; regulation of the CBD industry; changes in laws, regulations and guidelines; compliance with laws; limited operating history; unfavourable publicity or consumer perception; product liability, risks related to intellectual property; product recalls; difficulties with forecasts; management of growth; litigation; changes in demand for CBD and wellness products; competition; changes in Yooma and its subsidiaries’ relationships with their commercial partners; and other risks. Although the forward-looking statements contained herein reflect management's current beliefs and reasonable assumptions based upon information available to management as of the date hereof, Yooma cannot be certain that actual results will be consistent with such forward-looking information. Yooma cautions you not to place undue reliance upon any such forward-looking statements. Yooma disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Nothing herein should be construed as either an offer to sell or a solicitation to buy or sell securities of Yooma.
