In North America, the cannabis sector has experienced ups and downs in the wake of relaxing regulations. Meanwhile, a new frontier market is opening up in Europe, and World High Life PLC (NEX: LIFE), is among the first cannabis companies to take full advantage of this opportunity.
When Florida residents approved the use of medical cannabis in 2016, the market has been growing rapidly. Florida currently represents the second fastest-growing medical cannabis market in the United States, according to actualidadradio.com. In one year, the number of patients who consume cannabis for medical purposes doubled. That also leads to a greater number of people who want recreational use to be legalized, explained Marijuana Business Daily.
Kristin Petrik, one of Florida’s 400,000 patients who have medical permission to smoke cannabis, says there are many more resources now. “From when we started in 2016 until now, the medical cannabis program has changed things completely,” she said.
In this regard, the political group Make It Legal Florida, continues to collect signatures with the goal of reaching 766,000, which are necessary to bring full cannabis legalization in front of voters, in November 2020.
For those who are in favor of cannabis legalization, the initiative will allow the use, regulated sale and purchase of cannabis from the age of 21, as well as authorizing people to grow it at home for personal use.
However, not everyone supports the proposal. For example, the group Moms Against Drugs, who, through its spokesperson, Miriam Menendez, says that places like Washington DC, where recreational use of cannabis is allowed, have seen the number of accidents increase considerably.
So far, the medical use of marijuana is permitted in 33 states of the United States.
World High Life plans to become the main player in the emerging European cannabis market
Following on the steps of the North-American cannabis market, a new frontier market is opening. The nascent European cannabis market has huge potential and cannabis companies, as well as investors, are turning their attention towards it.
One UK-based cannabis investment company that plans to become the world’s biggest CBD and medical cannabis player is World High Life PLC (NEX:LIFE). Founded by two highly experienced North-Americans, the owners of Supreme Cannabis ( TSX:FIRE) and 1933 Industries (CSE:TGIF), WHL brings the experience from the North-American cannabis market and applies it to the lucrative European cannabis sector.
World High Life is not just another cannabis company, it’s an investment company that focuses on identifying and acquiring companies from UK and other European countries that have the potential to dominate the cannabis sector in a few years. Many investors missed out on the opportunity of the Canadian cannabis market, but Europe represents a second chance for them. By purchasing a single stock, investors will have access to a portfolio of top companies from UK and other European countries.
Recently, World High Life has purchased Love Hemp, the UK’s leading CBD company, in a transaction valued at 9 million GBP. Love Hemp products are now on the shelves of 1,200 UK high street stores. Additionally, they have agreements with big networks such as Boots, Tesco, Superdrug and Sainsbury’s. The two companies are planning the expansion to other European markets, starting with Germany in 2020.
European countries are starting to take the lead in the cannabis industry. As a result, there is an increased interest among investors who want to capitalize on the trends they missed on the US cannabis market.