Update on ingestibles product range

RNS Number : 1183J

Cellular Goods PLC

22 April 2022

 

The information contained within this announcement is deemed by the Company to constitute inside

information stipulated under the Market Abuse Regulation (EU) No. 596/2014, as retained as part of

the law of England and Wales. Upon the publication of this announcement via the Regulatory

Information Service, this inside information is now considered to be in the public domain.

Press release

22 April 2022

Cellular Goods PLC

('Cellular Goods' or 'the Company')

Update on ingestibles product range

Further to the announcement of 13 April 2022, the Company has now received correspondence from Trading Standards and has agreed to suspend sales of its ingestibles range with immediate effect.

The Company is disappointed with this development and will continue to engage with the Food Standards Agency (FSA) given its ingestible products are identical to products which are entitled to remain on the market.

While the Company believes that ingestibles are an important part of the overall market, Cellular's product marketing activity to date has focused on the non-ingestible products in the Company's 'Look Better' skincare range which remains unaffected.

Anna Chokina, Chief Executive Officer of Cellular Goods, said : "We are disappointed by the FSA's stance. We will continue to engage with the regulator as we believe our products are safe, of a high quality and appropriate to be on the market. We hope the matter can be resolved soon."

For further information please contact:

Cellular Goods
Anna Chokina Chief Executive Neil Thapar Investor Relations	via Tancredi [phone] [phone]
Tennyson Securities
Corporate Broker Peter Krens	[phone]
Novum Securities
Corporate Broker Colin Rowbury Jon Belliss	[phone]
Tancredi Intelligent Communication
Media Relations Helen Humphrey Gabriela Amaya Garcia Charlie Hobbs [e-mail]	[phone] [phone] [phone]

About Cellular Goods PLC:

Cellular Goods is a UK-based wellness company that provides premium products based on lab-made cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid-powered wellness products. The initial focus is on three product verticals: Function Better, Feel Better and Look Better. These three verticals encompass Cellular Goods' premium CBG skincare and CBD ingestible and topical athletic recovery products, with the first products launched in December 2021 initially through the Company's website. The Company's shares are listed on the main market of the London Stock Exchange. www.cellular-goods.com  

 

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