With double the population of Canada and the US, the European legal cannabis market is set to become one of the largest in the world. As the European countries are slowly opening their doors to hemp based products, cannabis companies, like World High Life PLC (NEX: LIFE), are rushing to be the first to benefit from the new emerging sector.
In Austria, Lukas Tanzer and Christoph Pegutter have installed one of the first hemp vending machines in Innsbruck. Their company Canna-Alp, based in Rum, sells high-quality certified (cannabidiol) CBD products, including flowers from the hemp plant, pollen, oils, as well as hemp cosmetics. Everything in their product range is 100% natural and legal, as the (tetrahydrocannabinol) THC value is below 0.3% and is therefore allowed for sale in Austria.
The Austrian Narcotics Law allows CBD-based products, because, although they are made from the hemp plant, they do not cause intoxication. In contrast, recreational drugs like hashish or marijuana contain more THC than allowed. One gram of Canna-Alp flowers costs between €7.50 and €10, depending on the variety. The products are available at selected Gutmann petrol stations, Shell petrol stations (Sonnpark), as well as in the company’s online shop or from its recently installed vending machine in Innsbruck.
The two entrepreneurs have received a lot of positive feedback for their project. “Customers are happy with the products and say that they relax or feel less pain after taking it,” said Pegutter. The two entrepreneurs came up with the idea of hemp products through Lukas. “I had strong pain due to two herniated discs. In 2015 I tried CBD products for the first time, and since then I feel much better,” said Tanzer. Two years later, the two entrepreneurs started planning, and in 2018 the company was founded.
They have been planning to expand with vending machines for nine months. “It wasn’t easy to find building owners who wanted a hemp machine in the hall,” Tanzer said. The company is planning to install another vending machine in the city center in mid-January, probably near Marktgraben.
World High Life is eyeing the opportunities in the emerging European CBD market
As the legal cannabis and CBD market in Europe is expanding, experienced companies are eyeing huge financial opportunities legalization can bring. World High Life Plc (NEX:LIFE) is an investment company founded in 2015 by two highly experienced North Americans, the owners of Supreme Cannabis (TSX:FIRE) and 1933 Industries (CSE:TGIF).
WHL’s main focus is on identifying and acquiring the most promising cannabis companies operating in medical and CBD sectors. By doing so, WHL aims to become the main legal cannabis business player in the European market which is likely to become one of the largest in the world. The continent has more than double the population of Canada and the US combined.
WHL has made the first step in their quest to conquer the European cannabis market by acquiring UK’s leading CBD company, Love Hemp. The partnership will allow WHL to enter Germany next.
Investors should keep a close eye on World High Life, as the company offers a unique opportunity to access a portfolio of top cannabis companies from the UK and other European countries, by purchasing a single stock.