Touting itself as “just in time for Christmas,” a new public cannabis company focused on CBD in the health and wellness sector announced its IPO on Tuesday. Phivida Holdings Inc. (CSE:VIDA) bases their business model around hemp-derived cannabidiol (CBD) products. The company is hoping that investors will see more established companies as already having significant run-ups in share price, instead looking to grab those wanting a company with more growth potential.
In a statement released by the company on Tuesday, they praised the recent decision by the World Anti-Doping Association to reverse their stance on hemp-derived CBD, removing the substance from their banned list. According to Phivida, WADA’s decision opens up the company’s product line for use by elite-level athletes as well as the common everyday user. In a similar vein, the group behind Phivida also cited the World Health Organization’s recent report on the health