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Kanabo Group (KNB) Shares Gain On First EU-GMP Production Line

Sam Boughedda
Sam Boughedda trader
Updated 25 Jun 2021

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Kanabo Group’s (LON: KNB) are climbing after the company announced that it has completed its first EU-GMP production line in partnership with Pure Origin Group.

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The production line marks the beginning of a complete product launch within Kanabo’s primary markets, with the company embarking on the second phase of its sales plan to increase revenue from the sale of CBD products.

Pure Origin created a dedicated production line for Kanabo’s CBD Wellness formulas using Kanabo’s equipment, production protocols and IP.

Kanabo CEO, Avihu Tamir, said: “In one month we have succeeded in a joint effort with the Pure Origin team to establish a EU-GMP production line for Kanabo’s medical-grade Hemp CBD line. This production is a key achievement that will bring a new quality of medical CBD vape products that were not previously available on to the UK market.”

Kanabo’s share price has gained over 1.8% on the news, climbing to 19.2p.

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Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.