Britannia Secures Agreement with RST to Supply UK CBD Market
Toronto, Ontario–(Newsfile Corp. – January 17, 2022) – Britannia Life Sciences Inc. (CSE: BLAB) (“Britannia”) is pleased to announce the signing of a Master Services Agreement (“Agreement”) with Remediation Sciences and Technology PLLC (“RST”) pursuant to which it will supply compliant cannabinoid ingredients to the UK and European markets.
“We are excited to partner with RST to supply the UK and European markets with high quality cannabinoid products at a competitive cost,” said Peter Shippen, CEO of Britannia. “The ability to source a consistent supply of validated ingredients is critical to the continued growth of the UK market and a core element of Britannia’s market strategy. This Agreement positions Britannia to provide its customers with comprehensive product development solutions by offering validated and approved ingredients alongside our existing formulation, testing and regulatory compliance services.”
The UK is estimated to be the second largest CBD market in the world with 2021 sales of £690 million, according to industry reports.[i]
The UK is also moving towards becoming the world’s first regulated CBD market after the Food Safety Authority classified CBD as a “Novel Food” and established a rigorous approval process for all ingredients and finished products.