World High Life PLC (LON:LIFE) has said that in accordance with its investment strategy and building on momentum from its Love Hemp subsidiary, it is now “actively considering” investment targets in the medicinal cannabis space.
The company said potential targets include new technologies, pharmaceuticals, synthetic cannabinoids, cannabidiol (CBD) and hemp with potential for wide applications in multiple jurisdictions.
Within this scope, World High Life said it intends to invest in and scale “innovative, early stage” uses of cannabinoids which have existing approvals in place to benefit patients and users.
“There are compelling opportunities to achieve our mandate, improving quality of life and wellness through innovations in medicinal cannabis, synthetic pharmaceutical derivatives, CBD and Hemp, with a number of investment opportunities that our team is actively pursuing”, World High Life chief executive David Stadnyk said in a statement.
“The Love Hemp team is doing terrific work, advancing its business model under difficult circumstances, due to [coronavirus], and growing on many fronts. That momentum has allowed our World High Life team to become more active on the investment side of our business as we see tremendous opportunities, especially in the cannabinoid pharmaceutical space”, he added.