COMPANY ESTABLISHES A STRATEGIC POSITION TO BENEFIT AS FAST-GROWING UK AND EUROPEAN MARKETS EMBRACE CBD AND MEDICINAL CANNABIS
VANCOUVER, BC, CANADA (September 16th, 2019) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF), an investment company, today announces that its subsidiary, Code Cannabis Investments, has made a strategic investment in World High Life PLC (London NEX: LIFE), an investment company focused on CBD wellness and medicinal cannabis in the UK and Europe.
“We see the UK market for CBD and medicinal cannabis being where Canada was 5-7 years ago,” said Mr. Zach Stadnyk, President of Code Cannabis Investments. “Our overall vision is to find early stage investments in this space and drive results for our shareholders, deploying our experience and relationships. Our view that the UK is ripe for such investment is being corroborated by the interest shown by additional major Canadian cannabis companies such as Aurora and Supreme. In addition to the UK, this investment provides our shareholders with future exposure to the European CBD and cannabis market overall, which we anticipate will be larger than North America.”
- UK CBD market currently growing at double digits, expected to be approximately 1 billion pounds by 20251
- Medicinal cannabis estimated to be worth 58 billion euros by 2028 in Europe2
- Support for legalization of cannabis increases from 47% among total UK population to 75% among past year CBD users1
Code is making up to a $4 million (CAD) investment in World High Life PLC, an investment company with a strategic focus to invest in and/or acquire companies in the CBD wellness and medicinal cannabis industry. World High Life PLC will be applying experience its leadership has attained at the forefront of the legalized cannabis industry in North America, leveraging proven models for success in the CBD wellness and medicinal cannabis industry. Code will become one of the largest shareholders of World High Life at this stage, as it seeks investments in the space with liquidity and strong revenue growth.