The American company C21 Investments Inc. has announced that it is filing an application to the Ukrainian State Service for Medications and Drugs Control [SSUMDC] to obtain a license for growing cannabis.
C21 Investments says that it has already been granted a license by the SSUMDC to import extracts and concentrates of raw cannabidiol or CBD, a naturally occurring cannabinoid constituent of cannabis, as well as the processing of CBD for medicine, the wholesale distribution of finished products and the re-export of CBD concentrates to Europe.
"We at C21 are excited to receive the first license issued in Ukraine and to expand into Europe,” the report says. The company has already opened a representative office in Kyiv, C21 Investment Ukraine LLC, in order to monitor activities and implement other business development opportunities in Europe.
According to the United States Register of Legal Entities and Individual Entrepreneurs, the company was registered on October 18. Its founder is Golden World Entertainment Ltd., a Canadian company, with an authorized capital of 27.91 million UAH ($967 000).
CBD extracts and products with a minimum content of the psychoactive component are legal in many countries of the European Union.