Medicinal cannabis investment firm World High Life has announced a £9m deal to buy British cannabis oil brand Love Hemp, as it seeks to grow its European business. World High Life intends to fund the deal in part through a £5m share placing. Based in London, Love Hemp's cannabidiol (CBD) and hemp products are stocked by the likes of Sainsbury's, Ocado, Holland and Barrett and WH Smith. A growing number of cannabis companies have either listed or are seeking floatations in London, hoping that the UK will be at the forefront of the sector's expansion in Europe, with a particular focus on Germany. While the regulatory situation in the UK remains a disincentive, Love Hemp's products are said to be a safe bet as they do not include the mild-altering chemical THC (tetrahydrocannabidinol).
