Bod's CBD and hemp oil preparation is Generally Recognised as Safe (GRAS) Adhering to Strict U.S. Regulations.
Bod Australia Limited (ASX: BDA) is pleased to advise that an independent expert panel has unanimously concluded that Bod's CBD and hemp oil preparation is Generally Recognised as Safe (GRAS) in specified food products in accordance with the stringent US Food and Drug Administration (FDA) safety guidelines.
Achieving Self-Affirmed GRAS status is a major achievement for Bod and means that the Company's proprietary (patent pending) extract is now considered safe for use in a wide range of food supplement and beverage applications. This supports Bod's introduction of its CBD and hemp range into the USA.
The regulatory approval follows nine months of planning and preparation by the Company and a stringent review of its operating, extraction, and formulation processes by an independent panel of highly qualified experts in the USA.
Bod will immediately progress the launch of approximately 10 new products in oil and soft gel capsule formats for the US market under existing brands in collaboration with exclusive global partner and Swisse Wellness parent company, Health and Happiness Group Ltd.
Bod and H&H Group will launch products directly to consumers through ecommerce platforms as well as with recognised retailers in the US. H&H Group has an established presence in the USA and the Company expects to generate significant revenue from the launch of its products in this
market. Production of first products is expected to commence in the coming months, which will also coincide with first purchase orders from H&H Group.
The US is a large and important market for us, and we look forward to our expansion into this market.Jo Patterson, CEO of Bod
CEO Jo Patterson said: "Bod is the first ASX-listed company to secure GRAS approval for its extracts and joins a number of top-tier CBD and hemp focused companies, including Charlotte's Web (TSX:CWEB) as leaders in delivering innovative and safe products to the US market.
"We expect to launch approximately 10 new products under H&H Group brands with production commencing and first revenues materialising from initial purchase orders in the coming months.
"Bod looks forward to providing regular updates on the receipt of initial purchase orders from H&H Group and the proposed product launches."
To learn more about Bod Australia, visit their company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
Get the Latest Marijuana News &
Content in your Inbox!
All your support helps The Green Fund keep writing content for all you
marijuana enthusiasts and potential pot stock investors