David Beckham invests in CBD skincare company

Growth op

David Beckham-backed Cellular Goods PLC, a U.K.-based provider of premium consumer products based on biosynthetic cannabinoids, is hoping to become the first company of its kind to join the main market of the London Stock Exchange (LSE). The listing “will provide us with the profile, credibility and access to global capital to drive our growth,” chief executive Alexis Abraham notes in a company statement . If successful, Cellular Goods is expected to be valued at about £20 million ($35 million) and would become “the first LSE-listed ‘pure-play’ consumer cannabinoid brands company and the first to use biosynthetic cannabinoids,” the statement claims. Former NFL superstar and cannabis advocate Ricky Williams debuts new podcast Mary Berry ‘absolutely shattered’ over bogus ads using her image to promote cannabis oils and creams Dog the Bounty Hunter unleashes new CBD-infused products “The company will apply for a standard listing and raise approximately £8 million ($14 million) through an initial public offering (IPO) for its ordinary shares that will include a retail offer,” the company reports. The IPO’s net proceeds will be used to finalize both the development and launch of a range of premium-quality consumer products based on biosynthetic cannabinoids. Premium skincare and topical athletic recovery products will be initial focus of Cellular Goods, with offerings being “available through partnerships with leading online and physical retailers and direct-to-consumers through the company’s website.” By making its CBD in the lab, Cellular Goods is expected to avoid any kerfuffle over THC. Currently in the U.K., it is illegal to consume, cultivate, produce and distribute cannabis that is “unlicensed for non-medical or non-industrial purpose” in the country, according to The Conversation . Indeed, supplying or producing the Class B drug can land a person 14 years in jail, an unlimited fine or both. The Cellular Goods statement notes…

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Source : David Beckham invests in CBD skincare company

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