BOD Australia Ltd - Bod and Health & Happiness Group launch first CBD products in the UK
BOD Australia Ltd (ASX:BDA)

Bod and Health & Happiness Group launch first CBD products in the UK

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Published Dec 16, 2019

What happened?

What's Happened

Bod Australia Limited ("Bod", ASX: BDA) has successfully launched its first CBD products to market in the UK. Products are now live in the United Kingdom under new premium brand CBII (www.cbii-cbd.com). This is part of the Company’s collaboration and exclusive licencing agreement with Health & Happiness Group Ltd.

What is CBII?

CBII has been established as a new H&H Group brand to distribute, market and sell premium CBD and hemp products to consumers. The CBII product suite includes a range of full spectrum CBD oil products derived from European Good Manufacturing Practice (GMP) hemp extracts in varying strengths (100mg, 200mg and 500mg).

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How will sales be generated?

The products are currently available to consumers in the United Kingdom through E-commerce channels. Bod and H&H Group will expand into traditional retail within the country in the coming months. As part of the binding licencing agreement between the two parties, H&H Group will initiate marketing and brand campaigns to drive product uptake and awareness in the UK.

CEO's summary

Jo Patterson CEO of BOD Australia Ltd has provided a statement.
Jo Patterson
Jo Patterson
CEO, BOD Australia Ltd

“This is an exciting development and a major milestone for Bod as it marks the commercialisation of our CBD consumer products and unlocks the benefits associated with the Company’s agreement with H&H Group. Having our products launched through a consumer focused, premium brand leaves Bod well positioned to capitalise on a rapidly growing market segment. We are confident that product uptake will be strong and this will underpin revenue growth for Bod. Product development initiatives remain ongoing and we are excited to have the opportunity to introduce additional lines through the CBII brand and others in the coming months. These new products will help grow market share and provide additional revenue streams for the Company.”

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Analysts thoughts

SmallCapInsider from Mawson Graham provides perspective on this recent announcement.
SmallCapInsider
Written by SmallCapInsider
Published Dec 16, 2019

This announcement is significant for BOD because it demonstrates that they have begun leveraging their strategic relationship with major shareholder H&H Group which was announced mid-2019. This development will likely lead to an additional revenue stream for BOD that is light on working capital. The U.K. is only one of the target markets that BOD wanted to focus on with its H&H partnership, with other countries of interest in the near term being the USA, France, Italy and the Netherlands. Furthermore this expansion into the U.K. also comes following BOD's announcement to expand its MediCabilis™ sales into the U.K. through a medicinal cannabis distribution agreement with PCCA Ltd.

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