Medicinal cannabis company Freyherr revealed plans on Friday to list on the NEX exchange in London, as regulation in Europe begins to relax.
The first day of trading is expected to be just a few weeks away on 30 July, Freyherr said in a company statement.
Freyherr International Group plc is the UK parent company of a business engaged in the production of medicinal cannabis, cannabis cultivation and the production of cannabis dosing and dispensing packaging. Operations are centred in Slovenia and the business mainly operates within the EU.
The laws concerning the use of medicinal cannabis are beginning to relax, and it is now legal for medical purposes in 22 countries within Europe. Additionally, six EU member states are expected to be announcing legislation later on this year, the latest being France.
By 2028, the European cannabis market could be worth up to €123 billion, according to the market intelligence firm Prohibition Partners.
The benefits of medicinal cannabis have become more widely accepted as the list of conditions that it can be used to treat continues to grow. Medicinal cannabis may help conditions such as epilepsy, glaucoma, Alzheimer’s, Crohn’s disease, Parkinson’s disease and chronic pain, in addition to assisting cancer patients having chemotherapy.
Freyherr emphasised that for international cannabis companies, Europe is one of the most difficult markets to enter as a result of its strict regulatory framework, complex licensing and trading requirements and cultural and societal nuances concerning the consumption of the drug.
Elsewhere in the cannabis industry, Sativa Group plc recently opened its first store of a planned national chain of CBD wellness retail stores. The first of these opened in Bath at the beginning of the month and provides a range of over 50 CBD products, offering consumers the opportunity to try CBD infused coffee and tea.