Codebase Ventures Inc. has made a strategic investment in World High Life PLC, an investment company focused on CBD wellness and medicinal cannabis.
Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE, FSE:C5B, OTCQB:BKLLF), an investment company, today announces that its subsidiary, Code Cannabis Investments, has made a strategic investment in World High Life PLC (London NEX: LIFE), an investment company focused on CBD wellness and medicinal cannabis in the UK and Europe.
“We see the UK market for CBD and medicinal cannabis being where Canada was 5-7 years ago,” said Mr. Zach Stadnyk, President of Code Cannabis Investments. “Our overall vision is to find early stage investments in this space and drive results for our shareholders, deploying our experience and relationships. Our view that the UK is ripe for such investment is being corroborated by the interest shown by additional major Canadian cannabis companies such as Aurora and Supreme. In addition to the UK, this investment provides our shareholders with future exposure to the European CBD and cannabis market overall, which we anticipate will be larger than North America.”
- UK CBD market currently growing at double digits, expected to be approximately 1 billion pounds by 20251
- Medicinal cannabis estimated to be worth 58 billion euros by 2028 in Europe2
- Support for legalization of cannabis increases from 47% among total UK population to 75% among past year CBD users1
Code is making up to a $4 million (CAD) investment in World High Life PLC, an investment company with a strategic focus to invest in and/or acquire companies in the CBD wellness and medicinal cannabis industry. World High Life PLC will be applying experience its leadership has attained at the forefront of the legalized cannabis industry in North America, leveraging proven models for success in the CBD wellness and medicinal cannabis industry. Code will become one of the largest shareholders of World High Life at this stage, as it seeks investments in the space with liquidity and strong revenue growth.
About Codebase Ventures Inc.
The Company’s mission is to make strategic investments in emerging sectors and markets, including cannabis and technologies such as blockchain and cryptocurrencies, where innovative business models and technologies have the potential to be transformative and deliver the greatest value to shareholders.
Codebase Ventures Inc. is a hands-on team of entrepreneurial and technology experts who invest early in great ideas. The Company operates from the understanding that emerging sectors including cannabis and technology are evolving rapidly, bringing early opportunities for strategic investments that can deliver the exponential returns to shareholders.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Brian Keane, Director
Telephone: 1 (778) 806-5150 – TOLL FREE (877) 806-CODE (2633)
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.