Feb 3, 2021

Beckham-backed cannabis skincare firm to sell shares

A company backed by David Beckham, which uses compounds found in cannabis to make skincare and athletic products, plans to sell shares on the London Stock Exchange. The company makes its products in labs, rather than from plants. Two of the main active chemicals found in cannabis plans are cannabidiol - often used in skincare products - and tetrahydrocannabinol. Cellular Goods aims to sell products from September 2021, according to its website, which will make it the first firm of its kind to debut on the LSE. Cannabis companies can list on the LSE so long as they are medicinal, the Financial Conduct Authority watchdog decided last year. "The appetite for cannabinoid products is huge and the biosynthetic cannabinoids we will be exclusively using are cleaner, greener, purer, and frankly the future."

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