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DENVER, June 03, 2019 (GLOBE NEWSWIRE) -- Elixinol issued the following statement regarding the public FDA hearing in Washington, D.C. on Friday, May 31.
“We support the FDA’s intentions, we want consumers to make educated decisions, and we want the market to universally supply CBD that’s free of metals, molds and pesticides and safe for consumers. Additionally, we support the industry’s intentions to develop best-in-class standards, like those of the U.S. Hemp Authority, whose seal of approval means the brand has been through a stringent review of processes, procedures and employee training. We’re proud to be one of the first brands to be U.S. Hemp Authority certified. Now that the hearing has ended, we will wait for the outcome to unfold, hoping to see the FDA takes strides in their acceptance of hemp-derived CBD. FDA permitting hemp-derived CBD oil as a food additive will open the floodgates of CBD-infused food and drink, as we see industry projections that U.S. CBD sales will climb from a $600 million-dollar market in 2018, to a $22 billion market by 2022, as cited by Green Entrepreneur.”
Colorado-based Elixinol, co-founded by Paul Benhaim, hemp entrepreneur since 1991, is widely regarded as one of the most influential CBD brands in the world. With a proven track record of growing and extracting premium-quality hemp, Elixinol is one of the few CBD hemp extract brands with complete seed-to-sale control over its products. Elixinol also conducts rigorous third-party laboratory testing and quality control. Elixinol distributes hemp-derived CBD products in 40 countries globally including North and South America, throughout Europe, Asia, and the Pacific Region under its own label as well as bulk CBD and wholesale CBD. Elixinol’s parent company EXL (elixinolglobal.com) is publicly traded on the Australian Securities Exchange and on the U.S. OTC (ASX:EXL, OTCQX: ELLXF). More information available at Elixinol.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6604a9ea-0b5a-4baf-b965-a19536d636c6